
As if things couldn't get any worse for
Midway, current court documents show that the trouble publisher may deplete its cash reserves by June of this year. Here is a statement to the courts by owner
Mark Thomas:
Moreover, the Debtors have conceded that if they continue consuming the cash at the current rate, the Debtors' cash will be depleted by late June 2009...Furthermore, the Debtors do not have any new, major video game releases which could have provided an influx in cash between now and June 2009.
The document also states that
Midway overstated the value of the
Mortal Kombat franchise, and that
Citigroup was hired by
Midway last year to find potential buyers of the company but was unsuccessful.
Source:
http://www.gamepolitics. ... -cash-june