Atari Has been Sold (100% Facts)

Atari Has been Sold (100% Facts)

Post by djne » Wed, 11 Mar 1998 04:00:00



They should have just put it on ebay.


> Actually for $5000 about 50 of us would be FIGHTING for it :)

--
Visit my new web page at:
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Atari Has been Sold (100% Facts)

Post by Joe F » Thu, 12 Mar 1998 04:00:00



Quote:

>Hello to all,
>Its real, its true and its official, Atari has been
>sold!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

>Curt Vendel
>Atari Prototypes & Vaporwares Site
>www.atari.nu

Here is the link, if you're interested:

http://www.sec.gov/Archives/edgar/data/941167/0001047469-98-009085.txt

-Joe

 
 
 

Atari Has been Sold (100% Facts)

Post by Sire » Thu, 12 Mar 1998 04:00:00


Quote:>>Its real, its true and its official, Atari has been
>>sold!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
>Here is the link, if you're interested:

>http://www.sec.gov/Archives/edgar/data/941167/0001047469-98-009085.txt

You know, I've seen some trades that are that complicated. o.o;

- Siren

 
 
 

Atari Has been Sold (100% Facts)

Post by John Schnittke » Thu, 12 Mar 1998 04:00:00


Cool! Now A toy company(Hasbro) owns Atari!!!

 
 
 

Atari Has been Sold (100% Facts)

Post by tom co » Thu, 12 Mar 1998 04:00:00


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<SEC-DOCUMENT>0001047469-98-009085.txt : 19980310
<SEC-HEADER>0001047469-98-009085.hdr.sgml : 19980310
ACCESSION NUMBER:               0001047469-98-009085
CONFORMED SUBMISSION TYPE:      8-K
PUBLIC DOCUMENT COUNT:          2
CONFORMED PERIOD OF REPORT:     19980223
ITEM INFORMATION:              
ITEM INFORMATION:              
FILED AS OF DATE:               19980309
SROS:                   NASD

FILER:

        COMPANY DATA:  
                COMPANY CONFORMED NAME:                 JTS CORP
                CENTRAL INDEX KEY:                      0000941167
                STANDARD INDUSTRIAL CLASSIFICATION:     COMPUTER STORAGE
DEVICES [3572]
                IRS NUMBER:                             770364572
                FISCAL YEAR END:                        0202

        FILING VALUES:
                FORM TYPE:              8-K
                SEC ACT:                
                SEC FILE NUMBER:        001-14442
                FILM NUMBER:            98560313

        BUSINESS ADDRESS:      
                STREET 1:               166 BAYPOINTE PARKWAY
                CITY:                   SAN JOSE
                STATE:                  CA
                ZIP:                    95134
                BUSINESS PHONE:         4084681800

        FORMER COMPANY:
                FORMER CONFORMED NAME:  JT STORAGE INC
                DATE OF NAME CHANGE:    19960508
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<DESCRIPTION>FORM 8-K
<TEXT>

<PAGE>

-
------------------------------------------------------------------------------
--
-
------------------------------------------------------------------------------
--

                          SECURITIES AND EXCHANGE COMMISSION
                                WASHINGTON, D.C. 20549

                                   ----------------

                                       FORM 8-K

                CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
                           SECURITIES EXCHANGE ACT OF 1934

                                    DATE OF REPORT
                          (DATE OF EARLIEST EVENT REPORTED)

                                  FEBRUARY 23, 1998

                                   JTS CORPORATION
                (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)

           DELAWARE              COMMISSION FILE NUMBER      77-0364572
(STATE OR OTHER JURISDICTION OF         0-21085            (IRS EMPLOYER
INCORPORATION OR ORGANIZATION)                           IDENTIFICATION NO.)

                      166 BAYPOINTE PARKWAY, SAN JOSE, CA 95134
             (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES, INCLUDING ZIP CODE)

                                    (408) 468-1800
                 (REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE)

-
------------------------------------------------------------------------------
--
-
------------------------------------------------------------------------------
--

<PAGE>

Item 2.   Acquisition or Disposition of Assets.
- ------------------------------------------------

     On February 23, 1998, JTS Corporation (the "Company") sold substantially
all of the assets of the Company's Atari Division, consisting primarily of
Atari
home computer games and the intellectual property rights and license
agreements
associated with such games (the "Atari Assets"), to HIACXI, Corp. ("HIAC"), a
wholly-owned subsidiary of Hasbro Interactive, Inc., for $5,000,000 in cash.  
The purchase price was determined based upon arm's-length negotiations between
the Company and HIAC.  The Atari Assets were acquired by the Company in July
1996 when the Company merged with Atari Corporation.  There is no material
relationship between HIAC and the Company, any of its affiliates, any director
or officer of the Company, or any associate of any such director or officer.

Item 7. Financial Statements and Exhibits.
- -------------------------------------------

     (a)  Financial statements of business acquired.

          Not applicable.

     (b)  Pro forma financial information.

          Unaudited Pro Forma Condensed Combined Financial Statements of the
          Company.

     (c)  Exhibits

     99.1 Asset Purchase Agreement, dated February 23, 1998, between the
Company
          and HIAC.  

                                      SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, JTS
Corporation has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                             JTS CORPORATION
Date:  March 9, 1998                         BY /s/  Joseph Prezioso

                                             ----------------------------
                                             Joseph Prezioso
                                             Chief Financial Officer

<PAGE>

                                 JTS CORPORATION AND
                        THE DISPOSITION OF THE ATARI DIVISION

                 UNAUDITED PRO FORMA CONDENSED FINANCIAL STATEMENTS

     The following unaudited pro forma condensed financial statements give
effect to the disposition of the Atari Division which was consummated on
February 23, 1998.  The accompanying pro forma condensed balance sheet as of
November 2, 1997 assumes that the disposition of the Atari Division by the
Company took place on November 2, 1997.  The accompanying pro forma condensed
statements of operations for the year ended February 2, 1997 and the nine
months ended November 2, 1997 assumes that the disposition took place as of
the beginning of the periods.  The pro forma condensed statements of
operations do not include the effect of any nonrecurring charges directly
attributable to the disposition.  The results are not necessarily indicative
of what would have occurred had the disposition actually been made at the
beginning of each of the respective periods presented or of future operations
of the Company.

<PAGE>

                                 JTS CORPORATION AND
                        THE DISPOSITION OF THE ATARI DIVISION

                     UNAUDITED PRO FORMA CONDENSED BALANCE SHEET
                                    (IN THOUSANDS)

<TABLE>
<CAPTION>

              AS OF NOVEMBER 2, 1997

 -------------------------------------------------

 HISTORICAL          PRO FORMA              PRO

    JTS             ADJUSTMENTS            FORMA
<S>                                                                            
 <C>                  <C>                <C>
                              ASSETS                                          

CURRENT ASSETS:
  Cash, and cash equivalents and                                        
   restricted cash. . . . . . . . . . . . . . . . . . . . . . . . . . . .      
 $   1,986           5,000 (b)           $   6,986
  Trade and other receivable. . . . . . . . . . . . . . . . . . . . . . .      
     6,644                                   6,644
  Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .      
     7,463                                   7,463
Prepaid and other current assets. . . . . . . . . . . . . . . . . . . . .      
     1,006                                   1,006

 ---------                               ---------
         Total current assets . . . . . . . . . . . . . . . . . . . . . .      
    17,099                                  22,099

EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET . . . . . . . . . . . . . . . .      
    26,440                                  26,440
OTHER INTANGIBLES . . . . . . . . . . . . . . . . . . . . . . . . . . . .      
       383                                     383

 ---------                               ---------
TOTAL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .      
    43,922                                  48,922

 ---------                               ---------

 ---------                               ---------
                    LIABILITIES AND STOCKHOLDERS' DEFICIT

CURRENT LIABILITIES:
  Bank line of credit and short-term borrowing. . . . . . . . . . . . . .      
 $   8,833                               $   8,833
  Accounts payable -- Trade . . . . . . . . . . . . . . . . . . . . . . .      
    60,553                                  60,553
  Accrued liabilities . . . . . . . . . . . . . . . . . . . . . . . . . .      
    23,836                                  23,836
  Current portion of capitalized lease obligations and long-term debt . .      
     3,152                                   3,152

 ---------                               ---------
              Total current liabilities . . . . . . . . . . . . . . . . .      
    96,374                                  96,374
LONG-TERM LIABILITES. . . . . . . . . . . . . . . . . . . . . . . . . . .      
    52,305                                
...

read more »

 
 
 

Atari Has been Sold (100% Facts)

Post by John Schnittke » Thu, 12 Mar 1998 04:00:00


I wonder what plans Hasbro has for atari. Theres' $$ in the arcade
division and home console games division. Hehe MAybe we'll see a new
atari console; then again maybe not hehehe.

 
 
 

Atari Has been Sold (100% Facts)

Post by Keith Scroggi » Thu, 12 Mar 1998 04:00:00


Now, the question is, will Hasbro Interactive do anything worthwhile with
Atari.  I did notice that the computers were specifically listed as being
part of the deal.  It makes me curious that they specifically mentioned
the computers (8-bit, ST, Falcon, and TOS), so does that mean there is
some plan to use this for something?  I mean, $5 million for Atari is a
good chunk of money.  I wonder who we can get to tell more of this deal.  
Sure enough $5 mil is not worth it for Atari's management......  

Maybe Hasbro has a game system in the works and wants to use the Atari
label.......

I'm sure in the coming months rumors will start to appear everywhere!

: Hello to all,

:      I was given an email earlier this morning from an individual who
: gave me a link for the Techstocks website, within the website it
: reference that JTS had filed an 8K form for the sale of assets,
: specifically Atari to Hasbro Interactive.

:    I decided the only way to know for sure if this was fact or fiction
: was to go to the source, since JTS is a publicly traded I went to the
: SEC site at www.sec.gov

:   So go to www.sec.gov, go to the Edgar Archives, select 8K and type in
: JTS for the ticker and Viola!!!   You get for February 23, 1998 the sale
: of most Atari assests to
: Hasbro for (GET THIS!!!) only $5,000,00!!!

: Its real, its true and its official, Atari has been
: sold!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

: Curt Vendel
: Atari Prototypes & Vaporwares Site
: www.atari.nu

 
 
 

Atari Has been Sold (100% Facts)

Post by Johnny Zymurg » Thu, 12 Mar 1998 04:00:00


$5 million is actually a very small sum of money for the name alone, if the
right people can act upon the right memories of the right consumers.  That
the computer lines are included is either complementary or central to their
plans; that's what we'll be watching for.  Don't necessarily expect anything
right off the bat.  Many wise investors, seeing an opportunity, act well in
advance of any plans, buying when others are fleeing... a la Warren Buffet
buying 20% of worldwide above-ground silver reserves recently.  He's just
waiting... he can afford to.

I thought I recently heard that Hasbro was laying off several hundred
employees and closing a plant.  I wonder if the Atari purchase has anything
to do with this.  Could be a refocusing of their management's vision.
Hmmm... an Atari web-box?  No reason you can't sell one today for $99.


>Now, the question is, will Hasbro Interactive do anything worthwhile with
>Atari.  I did notice that the computers were specifically listed as being
>part of the deal.  It makes me curious that they specifically mentioned
>the computers (8-bit, ST, Falcon, and TOS), so does that mean there is
>some plan to use this for something?  I mean, $5 million for Atari is a
>good chunk of money.  I wonder who we can get to tell more of this deal.
>Sure enough $5 mil is not worth it for Atari's management......

>Maybe Hasbro has a game system in the works and wants to use the Atari
>label.......

>I'm sure in the coming months rumors will start to appear everywhere!


>: Hello to all,

>:      I was given an email earlier this morning from an individual who
>: gave me a link for the Techstocks website, within the website it
>: reference that JTS had filed an 8K form for the sale of assets,
>: specifically Atari to Hasbro Interactive.

>:    I decided the only way to know for sure if this was fact or fiction
>: was to go to the source, since JTS is a publicly traded I went to the
>: SEC site at www.sec.gov

>:   So go to www.sec.gov, go to the Edgar Archives, select 8K and type in
>: JTS for the ticker and Viola!!!   You get for February 23, 1998 the sale
>: of most Atari assests to
>: Hasbro for (GET THIS!!!) only $5,000,00!!!

>: Its real, its true and its official, Atari has been
>: sold!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

>: Curt Vendel
>: Atari Prototypes & Vaporwares Site
>: www.atari.nu

 
 
 

Atari Has been Sold (100% Facts)

Post by Ralph Barbagal » Thu, 12 Mar 1998 04:00:00


        Considering Hasbro's success with the Frogger remake (as lousy
as it was, it did sell), I bet Hasbro is just chomping at the bit to
re-release some of Atari's back catalog in anticipation of similar
success.  Somehow I doubt Hasbro will do anything with the hardware, but
who knows.  Maybe they will incorporate it into some kind of toy, like
a Pico-style device.
--

"I have known many game designers; they encompass a broad range of
personalities. Yet all these disparate people share one common trait;
they all sport towering egos."--Chris Crawford, 1987.

 
 
 

Atari Has been Sold (100% Facts)

Post by Steven L C » Thu, 12 Mar 1998 04:00:00



Quote:>Now, the question is, will Hasbro Interactive do anything worthwhile with
>Atari.  I did notice that the computers were specifically listed as being
>part of the deal.  It makes me curious that they specifically mentioned
>the computers (8-bit, ST, Falcon, and TOS), so does that mean there is
>some plan to use this for something?  I mean, $5 million for Atari is a
>good chunk of money.  I wonder who we can get to tell more of this deal.  
>Sure enough $5 mil is not worth it for Atari's management......  

5 million is chump change for Hasbro, especially after just having
purchased Tiger Electronics last month (Feb 9th) for 335 million.
Which leads me to....

Quote:>Maybe Hasbro has a game system in the works and wants to use the Atari
>label.......

My conspiratorial mind is highly curious if there might end up being
some form of game.com / Atari collaboration now.  Perhaps use the Lynx
technology to give the Com a much-needed shot in the arm?

Quote:>I'm sure in the coming months rumors will start to appear everywhere!

Why wait months when we can start now?  :)

_____

Slight's Unofficial game.com Homepage:
http://www.fastservers.net/~slight/gamecom/index.html

 
 
 

Atari Has been Sold (100% Facts)

Post by Brian Wikle » Thu, 12 Mar 1998 04:00:00




> >Now, the question is, will Hasbro Interactive do anything worthwhile with
> >Atari.  I did notice that the computers were specifically listed as being
> >part of the deal.  It makes me curious that they specifically mentioned
> >the computers (8-bit, ST, Falcon, and TOS), so does that mean there is
> >some plan to use this for something?  

Not necessarily, the agreement merely spells out that Hasbro gets all
the
assets of Atari, from video games to computers.  It doesn't mean Hasbro
is
going to release computers, just says they now own all the
rights/patents/etc.
to the computer line.

Essentially, JTS is transferring everything under the Atari label to
Hasbro.

Quote:

> My conspiratorial mind is highly curious if there might end up being
> some form of game.com / Atari collaboration now.  Perhaps use the Lynx
> technology to give the Com a much-needed shot in the arm?

who knows, but Hasbro has been trying to do their own game system for
God knows
how long...

They started with the VCR based system (Sewer Shark, Night Trap were
spawned from) and
not to long ago, where experimenting with an elaborate Virtual Reality
system that
suddenly went away......

I'm sure we'll know something perhaps by E3........

my best guess...

-Brian

*opinions are mine, not my employer*

 
 
 

Atari Has been Sold (100% Facts)

Post by Dan Mazurowsk » Thu, 12 Mar 1998 04:00:00



> I wonder what plans Hasbro has for atari. Theres' $$ in the arcade
> division and home console games division. Hehe MAybe we'll see a new
> atari console; then again maybe not hehehe.

Atari does NOT have an arcade division. It's a long story, but the end
result of it all is that Atari Games, the arcade game maker, is now a
division of Williams (maker of Defender, Sinistar, etc...).

As for a new Atari console... I wonder if Hasbro is a Project X
licensee?

--
Check out my video game retrospect web site!

http://home1.gte.net/smedley/index.htm

To reply via e-mail, edit my ID.

 
 
 

Atari Has been Sold (100% Facts)

Post by Dan Mazurowsk » Thu, 12 Mar 1998 04:00:00



> I mean, $5 million for Atari is a
> good chunk of money.

Not really. Consider the staggering number of patents and licenses
involved. Hell, just look at those "key marks" that are mentioned - the
Atari name, Fuji logo, Centipede, Crystal Castles, Yar's Revenge, and so
on, and so on! That alon is worth a ton of bucks. (Well, to me anyway!)

Quote:

> Maybe Hasbro has a game system in the works and wants to use the Atari
> label.......

That would be my guess.

--
Check out my video game retrospect web site!

http://home1.gte.net/smedley/index.htm

To reply via e-mail, edit my ID.

 
 
 

Atari Has been Sold (100% Facts)

Post by Jay Tilt » Fri, 13 Mar 1998 04:00:00


Didn't Hasbro already inherit the corpse of Coleco?  Fif* years
after the 1982 home video game wars, the two big players end up as
bunkmates. :)
--
Jay Tilton

 
 
 

Atari Has been Sold (100% Facts)

Post by Keith Scroggi » Fri, 13 Mar 1998 04:00:00


: 5 million is chump change for Hasbro, especially after just having
: purchased Tiger Electronics last month (Feb 9th) for 335 million.
: Which leads me to....

Atually, for all that Atari embodies, $5 million is dirt cheap.  The
question is, did they finally get rid of the Tramiel family...

: My conspiratorial mind is highly curious if there might end up being
: some form of game.com / Atari collaboration now.  Perhaps use the Lynx
: technology to give the Com a much-needed shot in the arm?

Why would they want to do something with the Lynx, although it probably
was the cheapest portable game technology they could get, could make them
cheap now...

: Why wait months when we can start now?  :)

Basically I see three scenarios....

1) They wanted the games, to follow the froger path...
2) They wanted the name for a new game system or other application...
3) They couldn't pass on the price with all of the pack ins they are
getting....  all of Ataris technology and patents for the last 20 years....

 
 
 

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