Item 8.01 Other Events
Monthly Operating Report
As previously disclosed, on December 19, 2012, THQ, Inc. (the "Company") and
certain of its subsidiaries, (together with the Company, the "Debtors") filed
voluntary petitions for relief under Chapter 11 of the United States Bankruptcy
Code (the "Chapter 11 Case") in the United States Bankruptcy Court for the
District of Delaware (the "Bankruptcy Court").
On February 5, 2013, the Debtors filed their monthly operating report for the
reporting period of December 19, 2012 through December 29, 2012 (the "December
2012 Report") with the Bankruptcy Court and submitted the December 2012 Report
to the Office of the United States Trustee. The December 2012 Report is
furnished with this Current Report on Form 8-K as Exhibit 99.1.
The December 2012 Report contains unaudited financial information that has not
been reviewed by independent accountants, is limited to the Debtors and is in a
format prescribed by applicable bankruptcy laws. The financial information
related to the Debtors included in the December 2012 Report has been prepared to
conform with specific instructions from the U.S. Trustee and is not presented in
accordance with generally accepted accounting principles ("GAAP") or SEC
regulations applicable to financial statements contained in periodic reports
filed with the SEC. Preparation of the Debtors' financial statements in
accordance with GAAP could result in material reconciliations and adjustments to
certain financial information presented in the December 2012 Report.
The December 2012 Report also may contain information for periods that are
different from those contained in the reports the Company has filed pursuant to
the Securities Exchange Act of 1934, as amended (the "Exchange Act").
Such information also may not be indicative of the financial condition or
operating results of the Company and its subsidiaries for the periods reflected
in the Company's financial statements or in its reports pursuant to the Exchange
Act, or of future results. The financial information in the December 2012 Report
is not presented on a consolidated basis and does not present the consolidated
results of the Company. Accordingly, the financial statements in the December
2012 Report cannot be compared with the consolidated financial condition and
results of operations that the Company has reported in its Exchange Act filings.
Investors and potential investors should not place undue reliance upon the
information contained in the December 2012 Report, which was not prepared for
the purpose of providing the basis for an investment decision relating to any of
the securities of the Company.
While every effort has been made to assure the accuracy and completeness of the
December 2012 Report, errors or omissions may have inadvertently occurred and
the Company reserves the right to amend the December 2012 Report as necessary.
Further information about the Company's bankruptcy process is accessible at the
Kurtzman Carson Consultants Internet site at http://www.kccllc.net/thq. In
addition, documents filed in connection with the Chapter 11 Case (other than
documents filed under seal or otherwise subject to confidentiality protections)
will be accessible at the Bankruptcy Court's Internet site,
www.deb.uscourts.gov, through an account obtained from Pacer Service Center at
1-800-676-6856. Additional information may also be found at the Company's
website at www.thq.com.
Press Release
On February 26, 2013, the Company issued a press release, which is incorporated
herein by reference, relating to the Company's plan to sell the remainder of its
intellectual properties via a court-supervised sale process. A copy of the press
release is filed herewith as Exhibit 99.2.