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Company News Interplay explores strategic alternatives

Vault Dweller

Commissar, Red Star Studio
Developer
Joined
Jan 7, 2003
Messages
28,023
Tags: Herve Caen; Interplay

Which means that they are not dead yet, unfortunately. Here is the <a href=http://biz.yahoo.com/prnews/040420/nytu250_1.html>official press-release</a>.
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<blockquote>IRVINE, Calif., April 20 /PRNewswire-FirstCall/ -- Interplay Entertainment Corp. (OTC Bulletin Board: IPLY - News) announced today that it has retained the investment bank SG Capital to assist with an evaluation of strategic alternatives designed to enhance value to Interplay's shareholders. SG Capital will provide, among other services, assistance with the Company's financing efforts as it attempts to secure additional capital for product development and operations. SG Capital will also assist the Company with general business strategy and advice regarding potential strategic transactions, including a possible sale of the Company or its operating units.
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Commenting on the announcement, Interplay's Chairman and Chief Executive Officer Herve Caen said, "Management and the board do not believe that our current share price reflects the true value of the operations of our company. Accordingly, we have engaged SG Capital to explore strategic alternatives to improve and maximize shareholder value. We believe that their experience, capabilities and market focus fit the needs of Interplay and that SG Capital is uniquely qualified to assist the Company in this effort."
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Mr. Caen continued, "With Interplay's recent return to profitability and the strong performance of our industry as a whole, management and the board believe that the time is right to explore strategic opportunities for a much-improved Interplay."</blockquote>Much-improved?
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Saint_Proverbius

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Next stop, liquidation. Investment banks are like seeing returns, and returns aren't something Interplay provides. When your assets are greater than the value of the company itself, that's what investment banks will see.
 

Spazmo

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They really ought to make companies list references before offering them bail outs like this. Someone ought to have warned this poor bank what a turd IPLY is. Or maybe SG Capital is looking to get into the game publishing business?
 

Saint_Proverbius

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SGC is just putting up money in Interplay in hopes they'll see a return on what they give out. Basically, we're talking about a loan here, but in addition to the loan, SGC will also have a stake in what Interplay does and probably a little control over what Interplay does.

It's kind of funny seeing Herve Caen trumpetting how Interplay is now profitable again, considering they didn't pay half a million dollars worth of rent the last three months. They laid off a huge chunk of developers that they'll need for the future development of titles as well. Since most of those were laid off and quit during the last quarter of 2003, and those two games Interplay released Q1 2004 were done by then, there really wasn't much overhead for those titles during Q1.

It's basically like not paying bills while holding on to paychecks for a few months while you're not working, and claiming you're making $45,000/year without having to work.
 

fremdkoerper

Novice
Joined
Jan 8, 2004
Messages
3
watch out...

watch out for their new CRPG "Capital Tycoon" which basically plays like an excel sheet to appeal to the mainstream office worker.

it all makes me through up...
 

Saint_Proverbius

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D'oh.. I need to pay more attention. The recent announcement was for Q4 2003, because they haven't released the Q1 2004 yet, which is why the SEC is getting pissy with them and adding that "E" at the end of IPLY.
 

Human Shield

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Coming 2005, First Union Bank will make you its bitch...

Fallout 3: Income Generating Venture #381
 

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