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Dispatch №510
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04:44
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1 min read
4Kids Raises Going Concern Doubts
According to Anime!Anime!, 4Kids Entertainment has announced their earnings from the fiscal 2010 year. Their yearly sales were $14.5 million, down 58% from the last year and the net loss was $27.2 million. 4Kids has raised substantial doubt about its ability to continue as a going concern considering the large deficits and the lawsuit against TV Tokyo and ASATSU-DK over Yu-Gi-Oh!'s license. The license income of Yu-Gi-Oh! made up 36 % of 4Kids' total sales.
4Kids stated that TV Tokyo's claim was baseless, but 4Kids had proposed a one million dollar payment early this March to show their "good-faith" to the Japanese companies. TV Tokyo has been demanding $4.7 million of the unpaid royalties. 4Kids currently owns $4.2 million of cash and $7.1 million of securities, but they mentioned the possibility of bankruptcy if they lose the license of Yu-Gi-Oh.
Source: Anime!Anime!
Previous topic: 4Kids Gets Sued By Japanese Producers For Illegal Transactions of Yu-Gi-Oh
4Kids stated that TV Tokyo's claim was baseless, but 4Kids had proposed a one million dollar payment early this March to show their "good-faith" to the Japanese companies. TV Tokyo has been demanding $4.7 million of the unpaid royalties. 4Kids currently owns $4.2 million of cash and $7.1 million of securities, but they mentioned the possibility of bankruptcy if they lose the license of Yu-Gi-Oh.
Source: Anime!Anime!
Previous topic: 4Kids Gets Sued By Japanese Producers For Illegal Transactions of Yu-Gi-Oh