Established in 1994, the company generally worked within the same vein as competitors such as McFarlane Toys and NECA, producing detailed action figures, statues, plushes, and other collectibles of licensed properties up until its bankruptcy in 2006.

The official message board served as one of the company's strongest communication platforms where President and CEO Mike Horn and other employees would directly discuss their products with consumers.

In fact, polls were often held to let fans decide upcoming products, and news coverage of the company frequently stemmed from Palisades' forum discussion.

Such attributes included strong attention to detail and likeness, a high rate of joint articulation and bountiful accessories with tedious working functions.

The company frequently employed designers from the fan community of each property they licensed[4] and always credited staff and contributors on packages.

Palisades also assigned help from various groups such as the painting and sculpting talents of Plan B Toys[5] and accessory work by Industrial Zoo.

As one of the most highly anticipated figure lines at the time, the first series of Sesame Street was intended for a mid-2005 release but came to a stirring delay.

[11] While generally praised by the toy community, Palisades' uncompromising devotion to adult collectors proved financially cumbersome.

Many products laid within a narrow niche market of passionate fans or were simply unusual in scale or design; an example would be Mega Meatwad, a 5½" tall, non-articulated figure of the simple, limbless character.

[14] Curiously, Takara would have no part in this Micronauts revival, so Palisades began seeking out vintage samples from fans to help its development.

This middleman apparently had no intention of ever collecting the rest, and instead, kept most of the money while farming out the production to another facility to develop the toys for a fraction of the cost and with no quality control.

In November, a press release by President Mike Horn detailed the long-standing delay on Palisades' hotly anticipated Sesame Street action figure line: News from the company became scarce in the following months, and it was reported that shortly before Christmas, a large number of key staff members were released.

"[20] While Limited continued Palisades' Factory X branch of statues and prop replicas, Horn and his wife were not offered positions in the transaction.