Everyone's favorite semi-dead company has once again filed their quarterly report (albeit it very late) with the SEC. Interplay's latest filing showcases only the finest selection of debt, mismanagement, and litigation available. Herve and Interplay are being sued by just about everyone, even the Frenchies, and they barely have any money. I think this snip from the filing sums it all up:
As of June 30, 2005, we had a working capital deficit of approximately 17million, and our cash balance was approximately $.03 million. We currently have no cash reserves and are unable to pay current liabilities. We cannot continue in our current form without obtaining additional financing or income.
For a little taste of what might be in the near future:
We have substantially reduced our operating expenses. We need to reduce our continuing liabilities. We have to raise additional capital or financing. If we do not receive sufficient financing we may (i) liquidate assets, (ii) sell the company (iii) seek protection from our creditors including the filing of voluntary bankruptcy or being the subject of involuntary bankruptcy, and/or (iv) continue operations, but incur material harm to our business, operations or financial conditions. These conditions, combined with our historical operating losses and our deficits in stockholders' equity and working capital, raise substantial doubt about our ability to continue as a going concern.
Please, just die soon so we can all get on with whatever it is we do. Either that, or open your damn forums. Those are your only two options, Mr. Caen.