In recent SEC filings, Herve Caen managed to just wish away Interplay's debt, and now fully intends on developing the Fallout MMORPG that he's been talking about.
Apparently Interplay is trying to get funds through some sort of shady offshore dealings:
Interplay Entertainment Corp. (IPLY.OB) today filed a Form
8-K with the SEC announcing the Company has engaged a Paris-based
investment bank to conduct an offshore Private Placement of its common
stock. The offering of newly issued shares for an amount of at least
(euro)20 million and up to (euro)50 million in total will be reserved
exclusively to non US based accredited investors.He intends on using this to fund production of FOOL:
significantly reduced our debt over the past two years, we are now in
an improved position to raise capital. This private placement will be
another critical step toward the funding and development of our Fallout
property into a Massively Multiplayer Online Game, which represents our
plan for growth in the coming years.
How in the name of God is Interplay still able to do this?