3DO Secures Credit Line, But Faces Possible Stock Delisting

3DO, which announced last week that it may be delisted from the Nasdaq market, said today that it has arranged for a new two-year revolving credit line that it hopes will fund the firm through fiscal 2003.
The $15 million credit line, from GE Capital Commercial Services, is secured by accounts receivable, inventory and other unspecified assets. The credit line is contingent on raising $4.6 million in additional equity or debt financing by October 1, which CEO Trip Hawkins would personally provide if needed. The company's shares, which currently sit at 46 cents, are in violation of Nasdaq rules. 3DO was warned last week that it faces delisting unless the share price rises to over $1, and the firm is considering a reverse stock split to bring its share price above that minimum. On the brighter side, last week 3DO said that it will return to profitability in the quarter which ended June 30 and expects to beat street estimates for net revenue, net income, and earnings per share.

Latest Jobs


Vancouver, BC, Canada

Bladework games

Remote (United States)
Senior Gameplay Engineer

University of Canterbury

Christchurch, Canterbury, New Zealand
Academic in Game Arts and Animation

Fred Rogers Productions

Hybrid (424 South 27th Street, Pittsburgh, PA, USA
Producer - Games & Websites
More Jobs   


Explore the
Advertise with
Follow us

Game Developer Job Board

Game Developer


Explore the

Game Developer Job Board

Browse open positions across the game industry or recruit new talent for your studio

Advertise with

Game Developer

Engage game professionals and drive sales using an array of Game Developer media solutions to meet your objectives.

Learn More
Follow us


Follow us @gamedevdotcom to stay up-to-date with the latest news & insider information about events & more