Yesterday <a href="http://www.gamepolitics.com/2009/04/09/court-document-midway-will-run-out-cash-june">GamePolitics.com reported that </a> Midway Games's mysterious current owner <b>Mark Thomas</b> has filed a document last week before a hearing with the <a href="http://www.deb.uscourts.gov/">US Bankruptcy Court - District of Delaware </a>. In this new document there are many mentions of Midway's current cash flow situation and how the whole sale of Midway came to be. You can read the document <a href="http://media.libsyn.com/media/gamepolitics/Midway_-_BK_-_Mark_THomas_rebut_4-7-09.pdf">here</a>.
The document states that the company will run out of money come <b>June</b> while <a href="http://kotaku.com/5206125/court-documents-show-midway-may-be-out-of-cash-real-soon">Kotaku states</a> that <b>Midway Games</b> has told them that they can exist until <b>August</b> at the current rate. Also mentioned in the article is the statement that Marc Thomas feels that Midway has overstated the value of the <b>Mortal Kombat franchise</b>. The contents of that section are <a href="http://en.wikipedia.org/wiki/Sanitization_(classified_information)">redacted</a> for it is very sensitive information at this time still because of possible other negotiations going on behind the scenes. So there isn't much to learn about there at this time.
Midway still has until <b>June 11th, 2009</b> to file their <b>Plan of Reorganization</b> with the courts. At that time we will all have a better idea of Midway's plans to hopefully escape from their current financial woes, including where and how they'll be able to finance the company's budget moving forward. Until then, we at <b>TRMK</b> wish all our friends at <b>Midway Games</b> and the <b>MK Team</b> the best in making it through this tough time.
The document states that the company will run out of money come <b>June</b> while <a href="http://kotaku.com/5206125/court-documents-show-midway-may-be-out-of-cash-real-soon">Kotaku states</a> that <b>Midway Games</b> has told them that they can exist until <b>August</b> at the current rate. Also mentioned in the article is the statement that Marc Thomas feels that Midway has overstated the value of the <b>Mortal Kombat franchise</b>. The contents of that section are <a href="http://en.wikipedia.org/wiki/Sanitization_(classified_information)">redacted</a> for it is very sensitive information at this time still because of possible other negotiations going on behind the scenes. So there isn't much to learn about there at this time.
Midway still has until <b>June 11th, 2009</b> to file their <b>Plan of Reorganization</b> with the courts. At that time we will all have a better idea of Midway's plans to hopefully escape from their current financial woes, including where and how they'll be able to finance the company's budget moving forward. Until then, we at <b>TRMK</b> wish all our friends at <b>Midway Games</b> and the <b>MK Team</b> the best in making it through this tough time.