It seems that not even Superman can save ailing publisher Midway, as an SEC filing has revealed that unless the Mortal Kombat creator can pony up $150 million within fifty days, it faces bankruptcy.
At last count on October 31, Midway had a $10.3 million cash total. It is currently looking for “strategic and financial alternatives” to its money woes. Unless it can find one of these alternatives to liquidation, it’s a potential fatality for the troubled company.
At the beginning of the month, we reported that the majority of the company’s shares had been sold for a measly $.00012 per share. This caused the overall share price to drop by 40%, meaning that shares in Midway now cost 23 cents apiece.
No amount of desperately editing MK vs. DC for a Teen rating will save Midway now.
