Interplay: No Assurances

A new SEC filling from Interplay, with a rather curious take on the present state of the company:

We have sold “Fallout” to a third party and have obtained a license back which could allow us to create, develop and exploit a “Fallout” Massively Multiplayer Online Game . We are planning to exploit the license back of “Fallout” MMOG. The Company continues to seek external sources of funding, including but not limited to, incurring debt, the selling of assets or securities, licensing of certain product rights in selected territories, selected distribution agreements, and/or other strategic transactions sufficient to provide short-term funding, and achieve our long-term strategic objectives.

Our business and industry has certain risks and uncertainties. During 2007, we sold an asset and we started design work of a MMOG. There can be no assurance we can successfully develop a “Fallout” MMOG.

Oh yes, no assurance indeed:

As of December 31, 2007, our cash balance was approximately $1.1 million and our working capital deficit totaled approximately $2.3 million. We have some significant creditors that comprise a substantial proportion of outstanding obligations that we might not be able to satisfy. There is a balance owing to
Atari Interactive, Inc. (“Atari”) of approximately $1 million, and we may be unable to satisfy this debt which became due on March 31, 2008.[…]

We are planning to exploit our license back of “Fallout” MMOG and are reviewing the avenues for securing financing of at least $30 million to fund its production but no assurance can be made that we will be able to do so, and our license back may as a result be terminated.

They also talk about making MDK, Earthworm Jim, Dark Alliance and Descent games, on their new facilities in Beverly Hills, that they now have a development crew ( with Jason Anderson) and more people working for them in France.

But no assurances about anything, this is Interplay…

Spotted at NMA, more news about Interplay soon.

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