New Kid Co is showing a substantial loss. The company is reporting a net operating loss of $6.8 million on revenues of $1.8 million in the three months ended June 30. "New Kid Co is well positioned to attain a leadership position in this segment by the end of this year," said New Kid Co CEO Henry Kaplan, "With the addition of International sales generated by our Ubi Soft agreement and the launch of our third and fourth quarter new title releases, we expect to have a strong second half. We believe we are on track to a successful second half of the year." The company also announced the closing of CDN $8.2 million in new financing. The company will use the funds, raised primarily through special warrant issues, to repay debt and fund new product development.
