More bad news for developers Midway, as new owners AHS release financial documents showing that AIG aren't the only company out there good at losing money;
It is beyond dispute that the Debtors [Midway] have an immediate need to access and use AHS's Cash Collateral. Nor can it be disputed that, based upon the Debtors' 13 week forecasted Budget, the Debtors are hemorrhaging [sic] cash at an alarming rate. Indeed, the Debtors' Budget indicates that between February 9, 2009 and May 4, 2009, the Debtors will burn through approximately [US]$12,392,598 in cash representing an approximately 75% depletion of its cash reserves.
Midway have a plan to claw their way through their bankruptcy proceeding however, they've decided to sell their Mortal Kombat intellectual property. If all goes well, they'll be able to pull themselves out of financial trouble and go back to developing any number of their other massively successful IP's, the names of which have escaped us at the moment.