Majesco and Midnight City are in dire straits

[Administrator]

Publisher Majesco and its indie label Midnight City could be facing closure, according to a series of ominous financial reports.
"We have suffered losses that raise substantial doubt about our ability to continue as a going concern," Majesco said of the quarter ending 31st July 2014 in an SEC filing (via Yahoo Finance) posted on 6th November. "Accordingly, we are evaluating various alternatives, including reducing operating expenses and personnel costs, securing additional financing for future business activities, and other strategic alternatives including a sale or merger of our company."
"The reduction includes development and game-testing, selling and marketing, and support personnel. We are currently not developing any significant new games for release in fiscal 2015," the publisher stated.
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