help!!!

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Hello!
My roommate and i desparately hope you can help us.
She has 2 cats of 7 years, both fixed, one male and one female. i have a 1 year old neutered male. We have moved in together and last night brought our cats over. None of the cats had been at our new apartment. We let them out of the carriers at the same time. the first hour went ok. My cat seemed completely comfortable, and still does. No hissing, nothing. Her cats were ok, but suddenly hey FREAKED. The female cat is doing ok, but the male is absolutely insane. He was the bathroom demon all evening, yowling and threatening to kill anyone who entered. Eventually, we needed our bathroom, so my roomate pushed him out with a broom and a gentle voice. He had wet and shat on himself. I put my cat in my room with his litterbox and food,and he has been in here since. Over the night, the male cat yowled and walked around the apartment, visited my roomate, but in the morning, we see that he has found the highest corner of the loft and is hiding behind the water heater...again, hissing if we get near him. We worry that that this is not going to work at all. What should we do? I suggest giving him time to relax. Keeping my cat in my room for 2-3 days, and leaving his toys around the apartment for scent. But its so hard to see the older male cat like this. He has always had a history of being a little "insane". We are worried that one of us is going to have to give up our cats (that will be me, since mine is younger ) what should we do? HELP!!!