Mad Catz Interactive Inc., the publicly traded maker of videogame peripherals based in Scripps Ranch, closed the books on its fiscal year with an auditor’s word of caution and a vote of confidence from its bank.

In its annual securities filing released June 25, the auditor said financial uncertainties, including the company’s debt situation, leave doubts about Mad Catz (NYSE: MCZ)’s ability to continue as a going concern. The filing also said the company’s lender, Wells Fargo Capital Finance LLC, extended further credit.

This comes as Mad Catz plans to release guitar controllers and other peripherals for the Rock Band 4 videogame, set to be released in October ahead of the 2015 Christmas gift-giving season.

As yet, there are no sales statistics for Rock Band 4 — hence the auditor’s caution and its “going concern” language.

“This language was added because our debt covenants are tied to our budget and we are anticipating significant growth in sales and gross profit from Rock Band 4 this year,” said Karen McGinnis, Mad Catz’s CFO.

“However, for KPMG, there is not enough audit evidence for them to conclude that it is probable we will make those projections since we just started taking preorders."

In statements released with the company’s earnings report, Mad Catz executives said that the last year has been challenging. CEO Darren Richardson said there may be better days ahead.

“The initial response from consumers and retailers to the launch announcement and new game play has been very positive, and we expect sales of Rock Band 4 products to contribute to significant sales growth, operating leverage and cash flow in fiscal 2016,” Richardson said.

KPMG LLP, which audited Mad Catz’s books, explained in the securities filing that the company is required to meet a monthly financial covenant with its lender based on a trailing 12 months’ adjusted EBITDA (that is, earnings before interest, taxes, depreciation and amortization).

“The company’s trailing 12 months’ adjusted EBITDA as of March 31, 2015 and April 30, 2015 was lower than the required threshold and, accordingly, the company was not in compliance with this covenant … . On June 23, 2015, the company received a waiver of the covenant violations from Wells Fargo and entered into an amendment to the credit facility that extends the expiration of the credit facility to July 31, 2016 and modifies the trailing 12 months’ adjusted EBITDA covenant, as defined, from June 2015 through June 2016.”

To comply with its covenant, Mad Catz will have to increase net sales and gross profit considerably, the auditor said.

Mad Catz stock closed June 25 at 47 cents per share. The stock’s 52-week range has been 35 cents to 72 cents.

Mad Catz ended fiscal 2015 on March 31. It reported net income of $5.6 million on net sales of $16.6 million during the fourth quarter. Net sales for the quarter were down 18 percent from the fourth quarter of fiscal 2014, when Mad Catz took in $20.2 million. Mad Catz basically broke even during that quarter.

For fiscal 2015 as a whole, Mad Catz’s net income was $4.8 million on overall net sales of $86.3 million.

Net sales in the just-completed year were down 4 percent from the $89.6 million achieved in fiscal 2014. Mad Catz reported a net loss of $7.4 million that year.

Mad Catz’s revenue is down from previous years. Net sales were $122.7 million for the year ended March 2013, $117.6 million for the year ended March 2012, and $183.9 million for the year ended March 2011.