2 3 Major Updates after the intial post. Interplay looks to be trying to develop a new Descent title, among other games!
Title of the post also updated.
Let me preface this by saying that I am not an expert and don't really know what Interplay's latest SEC filing means. That said:
Interplay has filed a SC 13G/A form with the SEC, detailing what appears to be a massive sale of shares to one Frederic Chesnais and MicroProse. According to this WikiAnswers response, this form is meant to be used to "to report beneficial ownership of 5% or more of a class of securities. It is used by passive and some institutional investors."
From what I can surmise from the SEC filing, 9,199,117 shares went to Frederic Chesnais and another 8,799,117 shares went to his company MicroProse.
Does this mean that Herve Caen is looking to dump Interplay to new ownership? I have no idea, but hopefully one of you reading this can tell the DAC community more about what this filing means and the impacts it might have on Interplay.
You can view the whole filing here.
Update 1: I asked Interplay investor Orionquest what this filing actually means. First:
If you own 5% or more of the shares of any public company, you are required to file with the SEC stating that you do so and what is your intention of ownership which has been stated as non controlling by
FREDERIC CHESNAIS who is
"The reporting person beneficially owns 7,121,634 shares of common stock, all of which are held by Microprose, LLC, of which the reporting person is the managing director, a warrant to purchase 1,677,483 shares of common stock, also held by Microprose, LLC, and a warrant to purchase 400,000 shares of common stock which is held by Interactive Game Group, LLC, of which the reporting person is the managing director"
I then asked, for clarification purposes, if that meant Chesnais now owns 5% or more of Interplay. Orionquest responded by saying:
Not recently I think. He's just filing to state his ownership status. If you have time you could dig up his previous filings to see any difference.
If anyone is up for digging through the old SEC filings for Interplay to make more sense of Chesnais' current ownership stake, that would be great. As for me, it's dinner time and the wife is cooking Spaghetti Bolognese.
Update 2! These are coming quick! Interplay investor Frymuchan offers further clarification on the DAC forums:
there are a little over 100 million shares of Interplay out there. The fact that Fredrick Chesnais is buying more shares of Interplay and will soon own 10% or so of Interplay which is very good news for stockholders. Fredrick, through I2G, agreed to fund 4 of Interplay's games through his company. He was granted shares for this and options to purchase more shares, and he gave Interplay some worthless IP, submarine something or another, as part of the deal. Basically, the stock deal and options for Fredrick are a reward for getting 4 new Interplay games funded (this isn't confirmed yet, but this stock purchase makes it very, very likely that everything worked out, otherwise Fredrick would not have bought more shares). the games are Descent, Earthworm Jim, Dark Alliance, and MDK (I think MDK, don't remember on that one).
A new Descent game would be fantastic. That was one of the first great games I ever played.
More Interplay shares have moved around in massive quantities to Austin W. Marxe and David M. Greenhouse, according to this new SEC filing. Looking closely at the filing, Marxe and Greenhouse are involved in numerous companies, including offshore Cayman investments. Interplay invester Frymuchan again clarifies:
also looks like these jokers own almost 10 percent as well. from what I'm seeing, these guys (company) has over half a billion invested. There is something big brewing, most likely positive, but all this money stuff confuses me. anyone have a good understanding of the two latest filings by Fredrick Chesnais and these guys? Herve has had a relationship with these guys for quite some time. he has money guys on the board who also seem tied in with these guys.
looks like good news but not sure how it all fits in,
mpany Main View
Name: MARXE AUSTIN W & GREENHOUSE DAVID M
City: NEW YORK
View Filing Period:
Portfolio Summary View Filing
Filing Report Date : 2009-09-30
Total Value : $678,544,000
Total Value Change : $86,578,000
Securities Held Change : -24
All Securities Held : 383
New Positions : 6
Closed Positions : 15
Increased Positions : 20
Unchanged Positions : 72
Decreased Positions : 39
Half a billion dollars in investments? Wow. If Interplay saw even 20% of that, they'd be back on their feet like nothing happened.