The Midway saga has only gotten stranger since the company declared bankruptcy back in February. With Wheelman largely in the hands of Ubisoft, and the Mortal Kombat team reportedly considering a split, the ill-fated publisher is fast running out of cash. And that's just the beginning.
According to a heavily redacted statement obtained by GamePolitics (you can find the full text there), Midway is set to run out of cash by June, with no titles due to launch in that window that could provide an influx of cash. Worse, they've apparently overstated the value of the Mortal Kombat franchise.

And there's more.

According to the documents, Midway has been operating at a loss for most of the decade, with CitiGroup being unable to find anybody interested in acquiring the publisher in 2008. When Mark Thomas purchased Midway, he initially offered $1,000,000, then lowered his offer to a mere $100,000 after reassessing the risks. It shows just how bad things were that Midway jumped at the offer, with the deal being finalized quickly.

All of this, and that's just the stuff that hasn't been redacted. Wonder if Mark Thomas wishes he could have his $100K back?