Mad Catz Files 8K/A
2008-05-28 23:38:20 -
- Mad Catz Interactive, Inc. Stewart Halpern, 800-831-1442 Chief Financial Officer or Jaffoni & Collins Incorporated Joseph Jaffoni, David Jacoby 212-835-8500 mcz@jcir.com Mad Catz Interactive, Inc. ("Mad Catz" or "the Company") (AMEX/TSX: MCZ), a leading third-party interactive entertainment accessory provider, announced today that it has filed with the Securities and Exchange Commission an amended Current Report on Form 8-K/A containing the additional required financial information relating to its acquisition of Winkler Atlantic Holdings Limited, the owner of the five Saitek operating companies (collectively, "Saitek"). By this action, Mad Catz has fulfilled its requirements to regain compliance with the continued listing standards of the American Stock Exchange ("Amex").
The filing contains the required: audited financial statements of Saitek for its fiscal years ended February 28, 2007 and 2006; unaudited financial statements of Saitek as of August 31, 2007 and for the six-month periods ended August 31, 2007 and 2006; and unaudited pro forma income statements reflecting the impact of the acquisition on Mad Catz for the year ended March 31, 2007 and for the six-month period ended September 30, 2007. The Saitek financial statements contained in the filing reflect the results achieved based on the business as it was configured and operated under its prior ownership and, accordingly, such results are not necessarily indicative of the results to be expected going forward.
As previously announced, in March 2008 Mad Catz received a letter from the Amex indicating that it was in violation of the Amex's continued listing standards specified in Sections 134 and 1101 of the Amex Company Guide because the Company had not at that time made the required filing. As a result of the extraordinary magnitude of work involved, the Company was unable until now to complete and file the required financial information, and its listing has been continued pursuant to an extension granted by the Amex. The Company believes that today's filing of the amended Form 8-K/A satisfies the requirements of Sections 134 and 1101 of the Amex Company Guide and that the Company now complies with these listing standards.
About Mad Catz Interactive, Inc.
Mad Catz is a global leader in providing innovative peripherals for the interactive entertainment industry. Mad Catz designs and markets accessories for video game systems and publishes video game software, including the industry-leading GameShark video game enhancements, under its Mad Catz, GameShark and Joytech brands. Mad Catz also designs and markets mice, keyboards, headsets, PC gaming controllers and other PC peripherals through its Saitek brand, and manufactures and markets proprietary portable earphones under its AirDrives brand. Mad Catz distributes its products through most of the leading retailers offering interactive entertainment products and has offices across Canada, Europe and Asia. For additional information please go to www.madcatz.com, as well as www.gameshark.com, www.airdrives.com, www.saitek.com and www.joytech.net.
Safe Harbor for Forward Looking Statements: This press release contains forward-looking statements about the Company's business prospects that involve substantial risks and uncertainties. The Company assumes no obligation to update the forward-looking statements contained in this press release as a result of new information or future events or developments. You can identify these statements by the fact that they use words such as "anticipate," "estimate," "expect," "project," "intend," "should," "plan," "goal," "believe," and other words and terms of similar meaning in connection with any discussion of future operating or financial performance. Among the factors that could cause actual results to differ materially are the following: the ability to fulfill our filing or stated requirements with the Securities and Exchange Commission and applicable Canadian securities regulators; difficulties or delays in obtaining financial information and audit requirements from third party sources; delays in providing additional information to and otherwise responding to requests from our independent auditors. A further list and description of additional risks, uncertainties and other matters that we face can be found in the Company's reports filed with the Securities and Exchange Commission and the Canadian Securities Administrators.
Fulfills Requirement to Regain Compliance with Listing Standards
