May 5, 2007
Left Behind’s ruptured rapture
Left Behind Games, an ailing company that sells—or, rather, is struggling to sell—a fundamentalist video game where Christian kids get to slaughter unbelievers, is now laying waste to its own:
Left Behind Games Inc. (LBG) – the company responsible for the controversial video game Left Behind: Eternal Forces – has been doing a bit of house cleaning as they have made significant changes in their management.
The company has already seen the resignation of senior vice president David J. Klein, and has ended the employment of previous president, Jeffrey S. Frichner. LBG CEO Troy Lyndon also asked that the company’s three other board members resign last Friday.
Taking over as interim co-chairs of the board of directors will be Michael A. Knox and Leslie N. Bocskor, who have had many years experience in the media and gaming industry.
“I am excited about the company’s future as it extends its presence as a leader in the family values, faith-based and inspirational media and entertainment marketplace,” said Bocskor in a statement.
The recent cuts are most likely a result of the negative earnings that the company has been seeing in the past year, although the reasons for the change have not been explicitly revealed.
In February, the developer of LBG reported a $4.1 million loss for its third quarter, which ended on Dec. 31, on revenues of $2.2 million for the first six weeks of the game’s sales.
“Upon ratification of the board or the company’s shareholders, this appointment of interim Co-chairs will take affect,” explained Lyndon in a statement. “Both Knox and Bocskor have media entertainment and public company management experience that we desperately need.”
“Desperate” is a pretty good description of Left Behind—and, I’m guessing, its flatlined investors (see chart). But Lyndon’s statement is more interesting for what it leaves out. The company apparently still owes close to three-quarters of a million dollars in deferred salaries to some of its officers. And on March 31st it was due to pay a similar sum in royalties to bible publisher Tyndale House, from which it licenses the game. No word from the company on whether this was actually paid.
Anyone taking bets on when Lyndon will be forced out, or when Left Behind will file for Chapter 11?
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