Item 1.03. Bankruptcy or Receivership.

On May 1, 2009, the Registrant's wholly owned subsidiary, Empire Interactive Europe plc ("Empire"), entered into administration under the jurisdiction of the High Court of Justice, Chancery Division, Bristol District Registry, in the United Kingdom (the "Court"). Empire filed a Notice of appointment of an administrator, certain persons associated with KPMG LLP, as Empire's administrators effective May 1, 2009.

Administration is the United Kingdom's insolvency process, which is governed by the Enterprise Act 2002. A company must be insolvent as defined in the Insolvency Act 1986 in order to qualify for administration. Administration is designed to enable a business to be held together while plans are formed either to put in place a financial restructuring to rescue the company, or to sell the business and assets to produce a better result for creditors than would be achieved in a liquidation. Empire has sold its intellectual property assets to New World IP, LLC No recovery for unsecured creditors is anticipated form the sale these assets. Empire is subject to the protection of the Court and creditors' enforcement actions will be automatically be stayed while the administrators formulate plans to sell the remaining assets.

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