Well, it had to happen:
Microprose have just announced that they have run out of money and have
gone into liquidation. Sad for GP2, looks like it may never be released
at all. :(
R.
Well, it had to happen:
Microprose have just announced that they have run out of money and have
gone into liquidation. Sad for GP2, looks like it may never be released
at all. :(
R.
> Well, it had to happen:
> Microprose have just announced that they have run out of money and have
> gone into liquidation. Sad for GP2, looks like it may never be released
> at all. :(
>Well, it had to happen:
>Microprose have just announced that they have run out of money and have
>gone into liquidation. Sad for GP2, looks like it may never be released
>at all. :(
>R.
Patience is a virtue.
Erick J. Davis
Microprose in liquidation? More like rolling in dough.
Ashraf
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> Well, it had to happen:
> Microprose have just announced that they have run out of money and have
> gone into liquidation. Sad for GP2, looks like it may never be released
> at all. :(
> R.
Mike T.
>>Well, it had to happen:
>>Microprose have just announced that they have run out of money and have
>>gone into liquidation. Sad for GP2, looks like it may never be released
>>at all. :(
>>R.
> Hello Richard,
> It does not really matter what happens to Microprose as the F1GP 2 will
>actually be released by Spectrum Holobyte which purchased Microprose early
>last year. I am sure that after everyone has their copy of F1GP 2 all the
>delays that we have all exprienced will all but be forgotten.
So do the F1 cars still float for 30 seconds when they flip over? How is
realism compared to ICR2. A good framerate only gets you so far.
Hey, we are not talking "Battle Cruiser 3000 AD" are we? :-) To Geoff's
credit, World Circuit was pretty late too. And it completely kicked ass.
I really do expect the same with GPII.
> Erick J. Davis
> Well, it had to happen:
> Microprose have just announced that they have run out of money and have
> gone into liquidation. Sad for GP2, looks like it may never be released
> at all. :(
> R.
So, where did these liquidation rumors start? Probably from the Nasdaq's
insistence that
Spectrum Holobyte raise its net worth to continue trading on the
exchange. Following is a
copy of Spectrum Holobyte's news release on this issue from last Friday.
NEWS RELEASE NEWS RELEASE NEWS RELEASE NEWS RELEASE
ALAMEDA, Calif., June 21 /PRNewswire/ -- Spectrum HoloByte, Inc. (Nasdaq:
SBYT),
a world-wide interactive entertainment company, today announced it has
received commitments
from foreign investors to privately purchase approximately $10 million
of its Common Stock.
The
price of the shares so committed is at a 12% discount off the five-day
trailing average
trading price
of the Company's common shares from the date of such commitments. The
Company expects to
close such private sales prior to June 28, 1996.
In addition, the Company has entered into an agreement to issue 750,000
shares of Series B
Convertible Preferred Stock in order to retire $6 million principal
amount of its outstanding
Convertible Subordinated Debentures, which are not due until the year
2002. The Series B
Preferred Stock will be convertible into an equivalent number of shares
of the Company's
Common Stock.
Stephen M. Race, Chief Executive Officer, commented, "The Nasdaq
National Market System
requires the Company to maintain at least $4 million of tangible net
worth. On March 31,
1996,
the Company had a solid balance sheet, with $35.4 million in cash and a
3:1 current ratio.
Despite
this balance sheet strength, the Company had negative tangible net
worth. The Company raised
private equity and reduced its debt to comply with Nasdaq's request that
it achieve
compliance
with the net tangible assets requirement by July 12, 1996 in order to
remain listed on the
National
Market System. The $16 million balance sheet improvement we were able to
achieve more than
makes up for the March 31, 1996 shortfall. The Company intends to take
similar measures if
required to offset any operating losses in the current quarter. The
Company does not believe
that
the private placement and debt exchange were necessary from an
operational standpoint or to
bolster liquidity. We do believe, however, that remaining on Nasdaq
National Market is in the
best
interests of our shareholders."
--
No, Toto, I don't think we're
in Kansas anymore.
..Woof
\____|>
/\ /\
--
No, Toto, I don't think we're
in Kansas anymore.
..Woof
\____|>
/\ /\
Yea right, I guess GP2 is going to just disappear after it has taken 2 1/2
years to develop. There is nothing that can stop this game from coming out
now, Microprose or No Microprose.
Mark