UncannyGarlic said:
Elven6 said:
Why can't Masthead have $30 million? They do have investors after all who could loan them cash.
It's not so much a rumor as speculating by putting two and two together, Masthead was providing financing for the MMO and Interplay had some cash themselves.
I'm almost certain that Interplay claimed that the amount specified was unreasonable in the injunction and yes, it's unlikely that an independent studio who have yet to produce any products could get $30 million for another company's product. I'm almost positive that Masthead isn't even a publicly traded company so a bank load seems like the most likely source of funding aside from publishers (who wouldn't fund FOOL since it already has a publisher, amongst other reasons).
So far all we have to go on about Interplay securing the funding is their word, something which isn't worth a whole lot with Herve at the helm. I haven't seen a single financial statement which shows the funding.
Masthead has private investors (going by their site) so there is a possibility that they were able to raise the $30 million required. Nothing far fetched about that at all, they have been working on Earthrise for quite some time now and as we all know, you need a few millions to develop an MMO and launch it successfully so it's entirely reasonable that Masthead has some great funding behind them.
If funding is coming from Masthead I don't think Interplay would have to report it to the SEC since Masthead is a third party that isn't owned by Interplay.
The amount would be unreasonable for a company like Interplay since they didn't have very much at all with them at the time. It's difficult to go 0-100 within such a short time span. Herve in his pitch was relying on investments to get the job done, I guess the shape of the company and the economy didn't bring in the cash like he had hoped.
That being said, was Herve signing the contract a stupid move? I don't think so, like I've said before, Interplay today is in a far better position with or without the Fallout MMO than they were a few years back when liquidation was likely the only solution.
Interplay was already on a downhill spiral long before Herve became CEO or Titus acquired majority share of the company. People seem to forget Interplay began facing financial difficulties in the mid 90s long before Titus came onto the scene.
I don't know Herve so I can't speak on his behalf (or anyones for that matter) but Titus was a publishing giant that rivaled companies like EA, Acclaim, Midway, etc in its heyday. The brand to this day still holds a lot of sway in Europe in terms of following. Titus the Fox, Prehistorik Man, etc have some pretty dedicated followers. While they couldn't save it in the end, they did manage to run it successfully for nearly twenty years. While it's impossible to deny a few unwise decisions (in hindsight) were made under Titus, I wouldn't discount their abilities entirely.
Fallout aside, on the financial side of things Interplay seems to be making some interesting progress. They are developing internally again, publishing IP's,
And who is this Corinth I keep hearing about?