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Interplay still not paying employees, stock drops
Company News - posted by Saint_Proverbius on Sat 29 May 2004, 02:35:03Tags: Herve Caen; Interplay
Odin over at No Mutants Allowed is reporting that Interplay has once again failed to issue paychecks on time today. Today was supposed to be pay day, but since the company has no money and the paychecks issued on 5/14 for the 4/30 period kind of bounced a bit. So, technically, Interplay is now three pay periods behind in their payroll.
Also of note, IPLYE.OB is down to 4.5 cents/share, and dropped a full 2 cents upon openning today, openning at it's lowest point this 52 week period. The SEC added the "E" back to the symbol again because the company has yet again gone delinquent on filing it's earnings report for Q1 2004 even after filing for an extension.
Given that this situation is now being reported in newspapers, it looks as if the sale of the company Herve Caen and the shareholders were hoping for is less and less likely considering the amount of money it's going to owe in back pay in addition to any fines the government might place on the company for these things only adds to the risk of purchasing it.