Mad Catz, the prominent peripherals company that has been designing arcade sticks and other esoteric accessories since 1989, could soon face the prospect of closure if its income does not increase significantly.
In late June, the corporation offered a warning to investors, explaining that it had failed to meet a monthly target that had been implemented as a failsafe by its credit lender, Wells Fargo.
Because Mad Catz was unable to generate as much money as Wells Fargo had asked, the bank was given the option to call in its loan. Had this occurred, Mad Catz may not have been able to continue as a going concern.
However, on June 23, Well Fargo waived Mad Catz' violation, and entered into a new agreement with the corporation that will carry on until July 31, 2016.
But Mad Catz, which has been losing money for three years straight since 2011, said it requires "significant contributions from anticipated sales of products related to the Rock Band 4 video game."
Mad Catz is co-publishing the Harmonix-developed title. The company also manufactures arcade boards for , Mad Catz claims that it has overcome a major hurdle by securing a new line of credit. Initially the company will be loaned $20 million, which could increase to $35 million from September in order to ship Rock Band 4.
Karen McGinnis, chief financial officer at the company, claimed that part of the reason it needed to issue a credit warning was because of the necessity to use unequivocal language in financial documents. She claims that the reality of the situation is far more nuanced and positive.
For the financial year that ended in March 2015, Mad Catz posted a net income of $4.7 million. Representatives for the corporation were unavailable at the time of going to press.
Electronic Arts is removing a swarm of online videos revealing key gameplay details of its biggest game of the year, with GameSpot, DICE general manager Patrick Bach discussed the pressure of fan expectations placed on the studio.
"You want Battlefront to be as good as the films, which means that if we don't do that, players will be very upset. They will be very clear about that fact," he said.
Recently, publisher Activision announced a , although the problems have since been resolved.
This information comes via NeoGaf, but since use of the codes is technically a form of theft, we're not providing a direct link. We'll update this story with any comments from Activision, Bungie, or Red Bull when they become available.
This week Europe gets F1 2015, Xbox One owners get SMITE while PS4 owners get Pneuma and Skullgirls 2nd Encore. The Red Solstice comes out of early access and Rocket League explodes its way into our hearts.
As with the game's Japanese release, it appears there will be two separate physical releases of . The game is officially due out in North America and Europe at some point in 2016.
[UPDATE] According to . Specifically, players are having trouble connecting to the game, which is a critical issue for such an online-heavy game.
According to the PSN support site, other features such as PlayStation Video and the PlayStation Store are also experiencing issues at the moment.
We'll continue to monitor this situation and update this story accordingly. Are you experiencing any PlayStation Network issues right now? Let us know in the comments.
Games Done Quick joins GameSpot to speedrun Bastion, Ori and the Blind Forest, Castlevania: Symphony of the Night, Roundabout and Half-Life 2 Highway 17 in just over 2 hours!
P.T., the teaser/demo for and the Oculus Rift virtual reality headset, and is planned for later in 2016. You can check out the 13-minute prototype video below.
Anki has announced that Anki Overdrive, its new racing game, will begin shipping on September 20 in the US, Canada, UK, and Germany. Like its predecessor, Anki Drive, this is a racing game with a twist: It features a physical track that has toy cars racing along it.
In addition to returning game modes like the self-explanatory Race and Battle (cars can be equipped with virtual weapons, as in a kart-racing game), Overdrive introduces two new modes. Time Trial has you trying to set the best lap time possible, while King of the Hill tasks players with being in first place for the longest amount of time.
Also new to Overdrive is a modular track. With the pieces included in the starter kit, you're able to build eight different tracks. This number grows further by buying expansion kits; what start out as relatively simple arrangements can turn into something much more elaborate, like what you see below.
Overdrive is played using a mobile device by downloading the Overdrive app. The cars can be (virtually) customized with new weapons and upgrades, and Anki--which is a robotics and AI company, rather than a game developer--claims the AI "allows each car to fully control itself on the track and use diverse strategies to fight to the finish."
later this year, but it comes at a cost. In addition to the iOS or Android device each player needs, the starter kit is priced at $150. This comes with 10 track pieces, two cars, a charging platform, and a tire-cleaner. Unspecified new modes and features will be released for free post-launch, and the game supports tracks and cars from Anki Drive.
Call of Duty: Advanced Warfare's Supremacy DLC, the latest map pack to come to the game, is available now for map packs. There's still another content drop, called Reckoning, planned for Advanced Warfare. Activision hasn't said anything about the upcoming map pack, but keep an eye on GameSpot for news as it becomes available.