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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): JULY 23, 1997
THE 3DO COMPANY
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(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
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DELAWARE 0-21336 94-3177293
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(STATE OR OTHER JURISDICTION OF (COMMISSION FILE NUMBER) (I.R.S. EMPLOYER IDENTIFICATION NO.)
INCORPORATION OR ORGANIZATION)
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600 GALVESTON DRIVE
REDWOOD CITY, CA 94063
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(ADDRESS, INCLUDING ZIP CODE, OF PRINCIPAL EXECUTIVE OFFICES)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (415) 261-3000
NOT APPLICABLE
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(FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)
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Item 5. OTHER EVENTS
On July 24, 1997, the 3DO Company (the "Registrant") announced the
execution of a second addendum (the "Second Addendum") to the Technology License
Agreement (the "M2 Agreement") entered into by the Registrant and Matsushita
Electric Industrial Co., Ltd. ("Matsushita") in December 1995, as amended in
April 1996 pursuant to an addendum (the "Addendum"), pertaining to the 64-bit
technology known as "M2" (the "M2 Technology"). Under the Second Addendum, the
Registrant relinquished its rights to develop and distribute software and
peripherals that are compatible with hardware products incorporating the M2
Technology, and gave up its right to develop and distribute M2-compatible
authoring systems. In addition, the Registrant relinquished its right to receive
royalties with respect to Matsushita's potential use of the M2 Technology, as
well as certain other rights. In exchange, Matsushita has returned to the
Registrant all of the approximately 3.2 million shares of the Registrant's
common stock that it previously owned. The Second Addendum also references the
deferral and/or reduction of certain amounts due from Matsushita to the
Registrant and references certain changes in the dates for delivery by the
Registrant to Matsushita of certain milestones under the Addendum, subject to
the Registrant meeting its milestone delivery obligations.
There can be no assurance that the Registrant will be able to meet its
milestone delivery obligations as referenced in the M2 Agreement, as amended, or
even at all, or that, if the Registrant meets its milestone delivery
obligations, Matsushita will pay all or any of the reduced and/or deferred
payments on time or at all. The failure of the Registrant to meet its amended
milestone delivery obligations or the failure of Matsushita to pay the amounts
due under the M2 Agreement, as amended, would have material, adverse effects on
the Registrant's revenues and resulting financial performance. These and other
risks associated with the Registrant's business are described in "Risk Factors"
in Registrant's Annual Report on Form 10-K for the year ended March 31, 1997
filed with the Securities and Exchange Commission.
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Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
The 3DO Company
By: /s/ TERRENCE SCHMID
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Terrence Schmid
Chief Financial Officer
Date: August 8, 1997
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