Originally Posted by CountChocula
I was actually looking forward to the South Park game.
Is it possible they decided to adapt it for next gen consoles?
Farrell said it best in June: "I've been doing this long enough to know that …at the end of the day, the product will drive the stock price," he said.
Overshadowing all of this is the lingering threat that THQ might not have the money to ride out those delays. The company has already drawn $21 million from its line of credit – and its cash reserves are down to $36 million.
It has tapped Centerview Partners to help it raise capital and address the August 2014 due date of its $100 million 5% convertible senior notes. (But as the company acknowledged in its earnings, "there can be no assurance that the evaluation of strategic and financing alternatives will result in a transaction or financing, or that, if completed, said transaction and/or financing will be on attractive terms.")
"Strategic alternatives" is one of those business phrases that usually means the company is shopping itself around for a buyer. So, while it's hoping things will get better, they could get a lot worse – a lot quicker.
Once more, let's harken back to that June conversation:
"We want to show the shareholders that the heavy lifting is done," said Farrell at the time. "The last six months have been an exercise in great pain and suffering. We feel like we're getting there. We've taken a lot of negative things in the press – and frankly a lot of that was deserved. This company has changed. We have strong, new leadership. … It's starting to come together."