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Technology Stocks : 3DO: Hot Games for Hot Machines (THDO) -- Ignore unavailable to you. Want to Upgrade?

To: (Bob) Zumbrunnen who wrote (4069)	8/21/2002 7:30:22 AM
From: Glenn Petersen	Read Replies (1) \| Respond to of 4081

3DO Stockholders Approve Reverse Stock Split REDWOOD CITY, Calif., Aug. 20 /PRNewswire-FirstCall/ -- The 3DO Company (Nasdaq:THDO) announced that stockholders approved a one-for- eight reverse split of its common stock at a Special Meeting held today, with well over ninety percent of the outstanding shares voting in favor of the proposal. The reverse split will be effective as of the close of business on Thursday, August 22, 2002, and 3DO's common stock will begin trading under the split adjustment when the market opens on Friday, August 23, 2002. 3DO's common stock will continue to be traded under the symbol THDO. 3DO anticipates that following the reverse stock split, its common stock will trade at a price that is higher than Nasdaq's $1.00 per share minimum bid price requirement, a price that must be maintained in order to satisfy Nasdaq's continued listing requirements. However, there can be no assurance that, after implementation of the reverse stock split, the common stock will trade at eight times the market price prior to the reverse stock split or above the $1.00 per share minimum bid price. 3DO currently meets the other Nasdaq National Market listing requirements. About The 3DO Company The 3DO Company, headquartered in Redwood City, Calif., develops, publishes and distributes interactive entertainment software for personal computers, the Internet and advanced entertainment systems such as the PlayStation(R)2 computer entertainment system, and the Nintendo GameCube(TM)and Game Boy(R) Advance systems. 3DO has also been licensed to develop and publish interactive entertainment products compatible with the Xbox(TM)video game system from Microsoft Corp. More information about The 3DO Company and 3DO products may be found on the Internet at www.3do.com. The statements contained in this release that are not historical facts are "forward-looking statements" that are subject to risks and uncertainties. 3DO cannot predict whether the reverse stock split will increase the market price for 3DO's common stock; whether the market price per new share of 3DO common stock after the stock split will rise in proportion to the reduction in the number of old shares of 3DO common stock before the reverse stock split; whether the reverse stock split will result in a per share price that will attract brokers and investors who do not trade in lower-priced stocks; whether the market price per new share will either exceed or remain in excess of the $1.00 minimum bid price as required by Nasdaq; or that 3DO will otherwise meet the requirements of Nasdaq for continued inclusion for trading on the Nasdaq National Market. The market price of 3DO's common stock will also be based on 3DO's performance and other factors, some of which are unrelated to the number of shares outstanding. Factors which could cause the Company's results to differ materially include, without limitation, the timely development and commercial release of the Company's products and recognition of revenues, unanticipated expenses, unexpected conversion of preferred stock or exercise of warrants and options, popularity of the Company's brands, and the consequences of competitive factors in the marketplace. Sales of hardware platforms may not correlate to sales of the Company's products. Further information on potential factors which could affect such forward-looking statements and the Company's financial results are described in the Company's filings with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2002, and the Company's Definitive Proxy Statement on Form DEF 14A. The Company expressly disclaims any obligation to update any forward-looking statement to reflect events or circumstances occurring after the date hereof. NOTE: 3DO, and the 3DO logo, are trademarks or registered trademarks of The 3DO Company in the U.S. and other countries. Xbox is a trademark of Microsoft Corporation in the United States and/or other countries. "PlayStation" and the "PS" Family logo are registered trademarks of Sony Computer Entertainment Inc. TM, (R), Game Boy Advance and the Nintendo GameCube are trademarks of Nintendo. (C) 2001 Nintendo. All other trademarks belong to their respective owners. MAKE YOUR OPINION COUNT - Click Here tbutton.prnewswire.com SOURCE The 3DO Company CO: 3DO Company ST: California SU: prnewswire.com 08/20/2002 20:14 EDT

To: (Bob) Zumbrunnen who wrote (4069)	5/29/2003 8:40:29 PM
From: Glenn Petersen	Read Replies (1) \| Respond to of 4081

3DO files for bankruptcy, looking to sell assets By Ben Berkowitz LOS ANGELES, May 28 (Reuters) - Video game publisher 3DO Co. <THDO.O> on Wednesday said it had filed for Chapter 11 bankruptcy protection and would seek to sell either the company or its assets. Redwood City, California-based 3DO, which has struggled to gain a foothold in the competitive games business and has relied on Chief Executive Trip Hawkins for recent funding, said it filed for bankruptcy protection in federal court in northern California. In a statement, Hawkins said 3DO was pursuing either a sale of the company or its assets and expected to continue to operate as it worked through the Chapter 11 bankruptcy process. "This filing gives us more time to complete transactions in the interest of our stakeholders," Hawkins said in a statement. "While we hope that this news will generate additional new opportunities, at this point we are focused on pursuing either the sale of the entire company or the sale of its assets." The company had said two weeks ago it was exploring its options, including a merger or selling publishing rights to its games in progress, after a sales drop in the March quarter left it unable to fully tap its credit facility. On May 8, in documents filed with securities regulators, 3DO said it had warned its staff of mass layoffs that were expected to be conducted in July. In a research note in February assessing the state of the industry and the financial prospects of the publicly traded game companies, Banc of America Securities analyst Gary Cooper said 3DO had no value as an acquisition target. The company, which has been criticized in the gaming press for its multiple "Army Men" games, has drawn attention for the game "Four Horsemen of the Apocalypse," a violent adventure title. It has also been praised for its "High Heat" baseball game franchise. Shares in 3DO closed up 9 cents at $1.33 on the Nasdaq before the bankruptcy filing was announced. The company avoided being delisted from the Nasdaq last year by conducting a one-for-eight reverse split of its stock. Hawkins, who founded 3DO in the early 1990s, became an industry legend for starting Electronic Arts Inc. <ERTS.O>, now the world's largest independent games publisher, in the 1980s. In December, Hawkins himself agreed to provide the company a bridge loan of up to $10 million. The executive, educated at Harvard and with a work background at Apple Computer Inc. <AAPL.O>, is well-known in the industry for his passion and high-profile projects. In the book "Game Over," author David Sheff recounts the tale of a 1989 meeting at EA during which, under pressure from financial advisers, Hawkins removed his shoe and began pounding it on the table, in the style of former Soviet leader Nikita Khrushchev. However, 3DO was started not as a games company, but rather as a game-console designer. It created the specifications and underlying technologies and then licensed them to companies like Panasonic and Goldstar to be turned into multimedia entertainment devices. The consoles were hurt by high prices and a limited lineup of titles compared to rival platforms at the time. 3DO eventually exited the console business and turned strictly to game software. 05/28/03 22:08 ET Copyright 2003 Reuters Limited. All rights reserved.