Take-Two Interactive CEO Kelly Sumner sold 5,000 shares of stock ...
Take-Two Interactive CEO Kelly Sumner sold 5,000 shares of stock in his company for $132,300 and 25,000 shares for $662,500, SEC filings revealed Mon. SEC filing Fri. indicated Sumner had sold additional 5,000 shares for $132,300 (CED Sept 23…
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p7). Meanwhile, in 10-KSB filing last week, competitor eGames included independent auditors’ report dated July 24 that offered grim forecast for that game publisher. Auditor -- Philadelphia-based Stockton Bates -- said: “The company has a stockholders’ deficit at June 30, 2001, suffered a net loss and incurred negative cash flows from operations for the year ended June 30, 2001, and no longer has a credit facility available for future borrowings. These matters raise substantial doubt about the company’s ability to continue as a going concern.” In filing, eGames CEO Gerald Klein and CFO Thomas Murphy certified accuracy of company’s financial report as required by Sarbanes-Oxley Act of 2002. Separately, in SEC filing by 3DO last week, that game maker said it planned to hold annual stockholders’ meeting at its Redwood City, Cal., hq at 3 p.m. Oct. 16. Agenda is to include election of 2 class A directors for 3-year terms; vote on 2002 stock plan; vote to increase number of shares of common stock reserved for issuance under 1994 Employee Stock Purchase Plan by 375,000; confirm reappointment of PriceWaterhouseCoopers as independent auditor for fiscal year ending March 31, 2003.