Interplay Entertainment announced today the earnings for the quarter ending September 30, 2007. They reported income of roughly $500,000, or $.006 per share, compared to income of $1.6 million, or $.02 per share, for the same period in 2006. Revenue was also down 86 percent year-on-year to $47,000. Revenue for the nine-month period ending September 30, 2007 decreased nearly 900 percent to $5.9 million, mostly because 2006 revenues spiked with the sale of the Fallout IP.
"This quarter marks an important milestone in the company's difficult turnaround period of the past three years," commented, Interplay Chairman and CEO Herve Caen. "We are now focused on a two-pronged growth strategy. As we are working to secure funding for the development of a Massively Multiplayer Online Game (MMOG) based on the popular Fallout franchise, we are at the same time exploring ways to leverage our impressive portfolio of gaming properties through sequels and various development and publishing arrangements."
Caen went on to note that the company is resuscitating its in-house game development studio and has hired Jason Anderson, veteran of Fallout 1 and 2, as creative director of an unannounced MMOG.
View: Original Story @ Gamedaily
"This quarter marks an important milestone in the company's difficult turnaround period of the past three years," commented, Interplay Chairman and CEO Herve Caen. "We are now focused on a two-pronged growth strategy. As we are working to secure funding for the development of a Massively Multiplayer Online Game (MMOG) based on the popular Fallout franchise, we are at the same time exploring ways to leverage our impressive portfolio of gaming properties through sequels and various development and publishing arrangements."
Caen went on to note that the company is resuscitating its in-house game development studio and has hired Jason Anderson, veteran of Fallout 1 and 2, as creative director of an unannounced MMOG.
View: Original Story @ Gamedaily
Link: Interplay 10-Q filing (SEC).
Excript
On April 4, 2007 the Company entered into an Asset Purchase Agreement
("the APA"
Software LLC, a video game developer and publisher ("Bethesda"
"Fallout", intellectual property which was owned by the Company ("the IP"
Under the APA, the Company sold all of its rights to the IP to
Bethesda. Under the License Back , the Company obtained an exclusive license,
under certain conditions, to use the IP for the purpose of developing an
Interplay branded Fallout Massively Multiplayer Online Game ("MMOG"
NOTE 7. SUBSEQUENT EVENT
In October 2007 Bethesda paid the final installment of the
consideration due the Company under the APA.
In other words, Interplay sold all the Fallout IP rights to Bethsida and then licenced it lack from Bethsida for their stiull-vaporware FOOL (FallOut OnLine) game (the purpose of which is to Fool investors into ponying up casy to save Herve Caen & Co. from bankrupcy.)
Last edited by Croquant on 14 Nov 2007 - 05:38
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