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Party was over before DR left!
Turn out the lights the parties over................
Mad Catz® Makes Voluntary Assignment in Bankruptcy under the Bankruptcy and Insolvency Act (Canada)
SAN DIEGO, March 31, 2017 (GLOBE NEWSWIRE) -- Mad Catz Interactive, Inc. (the “Company”) (OTC Pink:MCZAF) announced that, with the authorization and approval of its Board of Directors, it and its subsidiary, 1328158 Ontario Inc., made a voluntary assignment in bankruptcy on March 30, 2017, pursuant to the provisions of the Bankruptcy and Insolvency Act (Canada). Pursuant to the assignment in bankruptcy, PricewaterhouseCoopers Inc. (“PWC”) has been appointed as the trustee in bankruptcy of the Company’s estate. The Company’s wholly-owned subsidiary, Mad Catz, Inc., ceased operations and also has filed a voluntary petition for relief under chapter 7 of the United StatesBankruptcy Code to initiate an orderly liquidation of the assets of the Company. In addition, certain of the Company’s other subsidiaries have filed or will file for liquidation under comparable legislation in their countries of origin.
The Company also announced that all of the directors and officers of the Company have resigned effective as March 30, 2017.
As previously disclosed, the Company’s Board of Directors formed a special committee in 2016 to explore and evaluate strategic alternatives intended to maximize shareholder value, including a sale of the Company. The Company hired a financial advisor in connection with evaluating and pursuing strategic alternatives. The Company has been consistently pursuing its operational plan with the aim of increasing revenue and improving working capital.
The Board of Directors made the decision to have the Company make a voluntary assignment in bankruptcy after considering various strategic alternatives, the interest of various stakeholders of the Company as well as a number of other factors. The Board of Directors has been advised by the Company’s financial advisor and management that no viable strategic alternative in respect of a sale of the Company or other corporate sale transaction is being made available to the Company by any third party. In addition, the Board of Directors has also been advised that the Company’s lenders will not increase the amount of its credit facilities beyond the current levels.
Karen McGinnis, President and Chief Executive Officer, stated that, “Regrettably and notwithstanding that for a significant amount of time the Company has been actively pursuing its strategic alternatives, including various near term financing alternatives such as bank financing and equity infusions, as well as potential sales of certain assets of the Company or a sale of the Company in its entirety, the Company has been unable to find a satisfactory solution to its cash liquidity problems. The Board of Directors and management would like to acknowledge the outstanding efforts of the Company’s employees in support of its business, especially during the time that the Company faced financial difficulties. The Company would also like to thank the vendors and professional service providers who have supported the Company’s efforts during this time.”
Inquiries concerning the filings and proceedings should be directed to the attention of Fergal J. Rogers of PWC at the contact information noted below.
About Mad Catz
Mad Catz Interactive, Inc. (“Mad Catz”) is a global provider of innovative interactive entertainment products marketed under its Mad Catz® (gaming) and Tritton® (audio) brands. Mad Catz products cater to gamers across multiple platforms including in-home gaming consoles, handheld gaming consoles, Windows PC and Mac® computers, smart phones, tablets and other smart devices. Mad Catz distributes its products through many leading retailers around the globe. Headquartered in San Diego, California, Mad Catz maintains offices in Europe and Asia. For additional information about Mad Catz and its products, please visit the Company’s website at www.madcatz.com.
Social Media
https://www.facebook.com/MadCatz.Global
http://twitter.com/MadCatz
http://www.youtube.com/MadCatzCompany
Mad Catz, and the Mad Catz logo are trademarks or registered trademarks of Mad Catz Interactive, Inc., its affiliates and/or subsidiary companies. All other marks are the property of their owners.
PricewaterhouseCoopers Inc.
Fergal J. Rogers
Director, Consulting & Deals
fergal.j.rogers@pwc.com or +1 604 806-7918
Source: Mad Catz Interactive, Inc.
Even dead cats bounce - only a question as to where - bounce from here or even lower....
Aren't they financially in trouble?
Means nothing. They are trading on otc. Great way to buy cheap shares. Easy 100 %.
How? They have be delisted
Bought 80,000 @.026. Extremely oversold!!!
Mad Catz® Announces Suspension of Trading and Commencement of NYSE MKT Delisting Procedures; Common Stock Expected to Begin Trading on the OTC PINK
SAN DIEGO, March 23, 2017 (GLOBE NEWSWIRE) -- Mad Catz Interactive, Inc. (the “Company”) (NYSE MKT:MCZ), today announced that it received notification that, due to the “abnormally low trading price” of its common stock, the staff of NYSE MKT LLC (“NYSE MKT”) Regulation has determined to commence proceedings to delist the Company’s common stock pursuant to Section 1003 of the NYSE MKT Company Guide. The NYSE MKT also suspended trading in the Company’s common stock effective immediately.
The NYSE MKT stated that it will apply to the Securities and Exchange Commission (SEC) to delist the Company’s common stock upon completion of all applicable procedures, including any appeal by the Company of the NYSE MKT’s determination. The Company does not intend to appeal the delisting determination. The Company’s common stock will begin trading on the OTC PINK marketplace on March 23, 2017, under the symbol “MCZAF.” The transition to the over-the-counter markets will not affect the Company’s business operations. The Company will remain subject to the public reporting requirements of the SEC following the transfer.
About Mad Catz
Mad Catz Interactive, Inc. (“Mad Catz”) (NYSE MKT:MCZ) is a global provider of innovative interactive entertainment products marketed under its Mad Catz® (gaming) and Tritton® (audio) brands. Mad Catz products cater to gamers across multiple platforms including in-home gaming consoles, handheld gaming consoles, Windows PC and Mac® computers, smart phones, tablets and other smart devices. Mad Catz distributes its products through many leading retailers around the globe. Headquartered in San Diego, California, Mad Catz maintains offices in Europe and Asia. For additional information about Mad Catz and its products, please visit the Company’s website at http://www.madcatz.com.
Social Media
Facebook
Twitter
YouTube
Cautionary Note Regarding Forward-Looking Statements
Information in this press release that involves the Company's expectations, business prospects, plans, intentions or strategies regarding its future are forward-looking statements that are not facts and that involve substantial risks and uncertainties. You can identify these statements by the use of words such as “seek,” “anticipate,” “plan,” “estimate,” “expect,” “believe” and “intend” and statements that an event or result “may,” “will,” “should,” “could” or “might” occur or be achieved and other similar expressions together with the negative of such expressions. These forward-looking statements reflect management’s current beliefs and expectations and are based on information currently available to management, as well as its analysis made in light of its experience, perception of trends, current conditions, expected developments and other factors and assumptions believed to be reasonable and relevant in the circumstances. These assumptions include, but are not limited to, continuing demand by consumers for video game systems and accessories, the ability to maintain or extend our existing licenses, the ability to continue producing and selling our products in accordance with various intellectual property that might apply to said products, the continuance of timely and adequate supply from third party manufacturers and suppliers, the continued satisfaction of our obligations under our existing loan agreements and any future loan agreements we may obtain, the continual trading or quotation on a market exchange, and that the trading volume of the Company’s common stock will be sufficient to provide for an efficient trading market or whether quotes for the Company’s common stock may be blocked in the future. A further list and description of these and other factors, risks, uncertainties and other matters can be found in the Company's most recent annual report, and any subsequent quarterly reports, filed with the U.S. Securities and Exchange Commission and the Canadian Securities Administrators. Forward-looking statements are not guarantees of future performance or outcomes and actual results could differ materially from those expressed or implied by the forward-looking statements. We assume no obligation to update or alter such forward-looking statements whether as a result of new information, future events or otherwise except as required by law.
Mad Catz, and the Mad Catz logo are trademarks or registered trademarks of Mad Catz Interactive, Inc., its affiliates and/or subsidiary companies. All other marks are the property of their owners.
Mad Catz Communications:
Dave McKeon
Chief Financial Officer
dmckeon@madcatz.com or +1 (858) 790-5045
Investor Relations:
Joseph Jaffoni, Norberto Aja, Jim Leahy
JCIR
mcz@jcir.com or +1 (212) 835-8500
Source: Mad Catz Interactive, Inc.
No, they can't. Just put an at market sell order. You'll be fine.
Can they turn it around or should I sell the rest of my shares?
Hmmmmmmmm?
NYSE MKT LLC announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the common stock of Mad Catz Interactive, Inc. (the “Company”) — ticker symbol MCZ — from the Exchange. Trading in the Company’s common stock on the NYSE MKT will be suspended immediately.
NYSE Regulation has determined that the Company is no longer suitable for listing pursuant to Section 1003 of the NYSE MKT Company Guide, due to the abnormally low trading price of its common stock.
The Company has a right to a review of staff’s determination to delist the common stock by a committee of the Board of Directors of the Exchange. The NYSE MKT will apply to the Securities and Exchange Commission to delist the Company’s common stock upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff’s decision.
https://www.streetinsider.com/Corporate+News/NYSE+to+Suspend+Trading+in+Mad+Catz+(MCZ)+and+Commence+Delisting+Proceedings/12696394.html
Company filed complaints against MMS manipulation. And after 15% down shares been halted
Bankruptcy announcement.
Anyone think this is possible? They have no other real option. No money. No product sales. No growth. Nothing to show to NYSE they deserve to be listed.
Extremely undervalued. Look at the weekly chart up up and away
Extremely undervalued. Look at the weekly chart up up and away
incredible volumen and wonderful close.
Next resistence 0,13. The next one should be MA(50), 0,14. Tomorrow will be interesting if volumen is keeping
* * $MCZ Video Chart 02-16-17 * *
Link to Video - click here to watch the technical chart video
Crazy amount of volume............hmmmmmmmmmm
Reversal beautiful close let the volume come in mad catz
Reversal beautiful close let the volume come in mad catz
Yes but this is not worth to mention :-/
Funny thing is...they still made money
Not unexpected financials
sorted into the price at $.13. now chickens
have been beheaded and have finished running around.
Business can get back to work. 6 months to realize
a bettering stock price via ongoing business above $.25.
Yeah.. still a failure... always a failure?
this quarters earnings is going to blastttt trough the roof I feel. Such amazing products out in new last couple years
Nicee man good luck, def the lowest it's ever been in 10 years.. good chance it will turn around. I believe watching the company for 8-9 years now
I got in today for fun shares. Mad Catz has been around since i was a kid.
This quarters earnings, will most likely go through the roof, drag it way down before these block buster earnings are released. An old pro. Investor trick from way back in the day. Released on feb 2nd.... minutes away I suggest get in now for a very nice ride up!! The new controller for the I phones is gonna hit Hard!
If the product is so good tell the world, not us. We're already on board!
make it: You might want to trumpet that to the world instead of an MB. Make it (the SP) happen!
Anything positive going to happen with MCZ in 2017?
Mad Catz® Debuts New Gaming Peripherals at CES Showstoppers
SAN DIEGO, Jan. 05, 2017 (GLOBE NEWSWIRE) -- Mad Catz Interactive, Inc. (“Mad Catz” or “the Company”) (NYSE MKT:MCZ), a global provider of innovative entertainment products, today announced plans to unveil a series of innovations in its Console and PC gaming peripherals at the 2017 Consumer Electronics Show in Las Vegas.
The Mad Catz team will be showcasing its new 2017 gaming peripherals at CES Showstoppers on Thursday, January 5 from 6 to 10 p.m. in stand C-7 of the Lafite Ballroom located inside the Wynn Hotel on the Las Vegas strip.
The Mad Catz CES Showstoppers line-up will include the following leading video game accessories:
Tritton® ARK™ 300 Wireless 7.1 Headset
Building on Tritton’s revolutionary HDMI licensed technology that debuted on the Katana HD™, the ARK 300 headset offers unparalleled audio fidelity, delivering eight channels of uncompressed sound and up to 4K HDR video pass-through to the latest gaming consoles. The ARK 300 features state-of-the-art DTS Headphone:X™ audio technology that accurately recreates the spatially immersive sound experience from across games and movies. Players will now be able to hear their enemies before seeing them and gain a competitive advantage on their opponents.
Tritton ARK 100 Wired 7.1 Headset for PC
Connecting via USB, the ARK 100 for PC features advanced audio customization software, which places the gamer center stage and fully in control of the audio environment. The 7.1 surround sound is delivered through 60 mm and 10 mm drivers in each earcan providing a full 360 degrees of positional awareness, while a boom microphone with dual chat mic system works to cancel out background noise and improve the clarity of the player's voice improving communications with other players.
RAT™ PRO S+ and RAT PRO X+
The latest in the refreshed RAT Range, the RAT PRO S+ continues Mad Catz’ incorporation of new technology and features to enhance PC gaming by evolving the design and performance of the original RAT PRO S to new levels. Built around the brand new Pixart PMW3330 optical sensor, gamers can benefit from increased DPI, higher tracking speeds, programmable lift-cut off as well as enhanced performance on a wider range of gaming surfaces. The RAT PRO X+ maintains all of the industry leading customization options the RAT line of mice has come to be known for and adds RGB lighting and a brand new range of sensor modules.
“The Tritton and RAT lines serve as great examples of Mad Catz’ continued and long-standing reputation for quality and innovation,” said Karen McGinnis, Chief Executive Officer at Mad Catz. “The high-end RAT gaming mice and Tritton ARK headsets we are showcasing at CES 2017 not only demonstrate how that innovation is still very much alive in gaming mice and headsets, but that it is at the very core of everything we do here at Mad Catz. We are excited to share with CES attendees how far gaming peripherals have come through the capabilities of Mad Catz’ talented internal design team and the benefits our products bring to their gaming experience.”
For additional information on the new RAT range, including features specific to each RAT model and where to purchase a new RAT, please visit: http://www.madcatz.com/gamechanging.
For additional information on the new ARK 300 7.1 Wireless Headset or the ARK 100 Wired 7.1 Gaming Headset, please visit: www.trittonaudio.com/ark.
About Mad Catz
Mad Catz Interactive, Inc. (“Mad Catz”) (NYSE MKT:MCZ) is a global provider of innovative interactive entertainment products marketed under its Mad Catz® (gaming) and Tritton® (audio) brands. Mad Catz products cater to gamers across multiple platforms including in-home gaming consoles, handheld gaming consoles, Windows PC and Mac® computers, smart phones, tablets and other smart devices. Mad Catz distributes its products through many leading retailers around the globe. Headquartered in San Diego, California, Mad Catz maintains offices in Europe and Asia. For additional information about Mad Catz and its products, please visit the Company’s website at www.madcatz.com.
Social Mediahttps://www.facebook.com/MadCatz.Globalhttp://twitter.com/MadCatzhttp://www.youtube.com/MadCatzCompany
Cautionary Note Regarding Forward-Looking Statements
Information in this press release that involves the Company's expectations, business prospects, plans, intentions or strategies regarding its future are forward-looking statements that are not facts and that involve substantial risks and uncertainties. You can identify these statements by the use of words such as “seek,” “anticipate,” “plan,” “estimate,” “expect,” “believe” and “intend” and statements that an event or result “may,” “will,” “should,” “could” or “might” occur or be achieved and other similar expressions together with the negative of such expressions. These forward-looking statements reflect management’s current beliefs and expectations and are based on information currently available to management, as well as its analysis made in light of its experience, perception of trends, current conditions, expected developments and other factors and assumptions believed to be reasonable and relevant in the circumstances. These assumptions include, but are not limited to, continuing demand by consumers for video game systems and accessories, the ability to maintain or extend our existing licenses, the ability to continue producing and selling our products in accordance with various intellectual property that might apply to said products, the continuance of timely and adequate supply from third party manufacturers and suppliers, the continued satisfaction of our obligations under our existing loan agreements and any future loan agreements we may obtain. A further list and description of these and other factors, risks, uncertainties and other matters can be found in the Company's most recent annual report, and any subsequent quarterly reports, filed with the U.S. Securities and Exchange Commission and the Canadian Securities Administrators. Forward-looking statements are not guarantees of future performance or outcomes and actual results could differ materially from those expressed or implied by the forward-looking statements. We assume no obligation to update or alter such forward-looking statements whether as a result of new information, future events or otherwise except as required by law.
Mad Catz, the Mad Catz logo, Tritton, Ark, and RAT are trademarks or registered trademarks of Mad Catz Interactive, Inc., its affiliates and/or subsidiary companies. All other marks are the property of their owners.
Mad Catz Communications:
US PR:
Dalin Cienfuegos
Regional Marketing Manager
dcienfuegos@madcatz.com or +1 (858) 790-5069
European PR:
Sabrina Breuss
Senior Manager, Marketing and Partner Relations
sbreuss@madcatz.com or +49 8954675734
Dave McKeon
Chief Financial Officer
dmckeon@madcatz.com or +1 (858) 790-5045
Investor Relations:
Joseph Jaffoni, Norberto Aja, Jim Leahy
JCIR
mcz@jcir.com or +1 (212) 835-8500
Source: Mad Catz Interactive, Inc.
That's a heck of a controller!
Interesting article posted today on product.
http://bgr.com/2017/01/03/best-iphone-game-contoller-amazon/amp/
While EV is about 20mil right now, their balance sheet will improve a little bit during Q3 which just ended and improve a lot in Q4 which just started.
Q3 will be better due to the deferred RB4 revenue.
Q4 always builds cash because that is essentially when Mad Catz gets paid for the Fall/Xmas season.
It's really terrible that some are selling at this level. All they need is a couple months more patience, maybe less.
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