Massively http://massively.joystiq.com Massively http://www.blogsmithmedia.com/http://massively.joystiq.com/media/feedlogo.gif Massively http://massively.joystiq.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Fallout Online's future in jeopardy as Interplay's finances suffer]]>http://massively.joystiq.com/2011/05/30/fallout-onlines-future-in-jeopardy-as-interplays-finances-suff/http://massively.joystiq.com/2011/05/30/fallout-onlines-future-in-jeopardy-as-interplays-finances-suff/http://massively.joystiq.com/2011/05/30/fallout-onlines-future-in-jeopardy-as-interplays-finances-suff/#commentsFiled under: , , , ,

There's a bad moon a risin' for all you MMO-playing Vault-dwellers out there. Fallout Online, the in-development MMO from Interplay, has been through some rough waters already, but it looks like the situation may be about to go from bad to -- pardon the pun -- apocalyptic.

A recent SEC filing by Interplay indicates that the company is going through some rough financial times, which doesn't bode well for the Fallout Online's future. According to the article at GamePolitics, Interplay is skating on thin ice with "a cash balance below $3000 and a working capital deficit of $3 million." The company also states that if the financial situation doesn't change sooner, rather than later, it could be forced to declare bankruptcy or even sell the studio entirely. We here at Massively wish Interplay the best in hopes that someday we'll all be able to step out of the Vaults and into Fallout's uniquely retro post-apocalyptic wasteland.

MassivelyFallout Online's future in jeopardy as Interplay's finances suffer originally appeared on Massively on Mon, 30 May 2011 22:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bankruptcyeconomyfalloutfallout-onlinefinancesinterplayMon, 30 May 2011 22:30:00 EST<![CDATA[Cheyenne Mountain Entertainment refused requested board changes]]>http://massively.joystiq.com/2010/02/25/cheyenne-mountain-entertainment-refused-requested-board-changes/http://massively.joystiq.com/2010/02/25/cheyenne-mountain-entertainment-refused-requested-board-changes/http://massively.joystiq.com/2010/02/25/cheyenne-mountain-entertainment-refused-requested-board-changes/#commentsFiled under: , ,

The last thing we'd heard from Cheyenne Mountain Entertainment, they were filing for Bankruptcy protection, and were attempting to sever all ties with Gary Whiting, Chairman and CEO of the company. However, according to a filing unearthed by Martuk over on the Ten Ton Hammer forums, it would appear that their motion to remove him -- and the restraining order against him -- were denied by the courts.

Rumors of financial mismanagement and all manner of shenanigans by Whiting and others have been rumbling around for quite some time. Thankfully, the court did see fit to intervene insofar as to require both parties to name two people they would recommend for receivership -- in essence, someone to protect the company from any further wrongdoing. The question now becomes how this is going to play out in terms of the future for Stargate Worlds, considering what is becoming of the court battle and the seeming rancor between parties involved. We'll be sure to keep you up to date as the story progresses.

MassivelyCheyenne Mountain Entertainment refused requested board changes originally appeared on Massively on Thu, 25 Feb 2010 11:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>bankruptcycheyenne-mountain-entertainmentcmecourt-casefinancial-mismanagementgary-whitinglegallegal-filingsreceivershiprestraining-ordersgwshenanigansstargate-worldsThu, 25 Feb 2010 11:00:00 EST<![CDATA[Cheyenne files for Chapter 11 bankruptcy, severs ties with Gary Whiting]]>http://massively.joystiq.com/2010/02/19/cheyenne-files-for-chapter-11-bankruptcy-severs-ties-with-gary/http://massively.joystiq.com/2010/02/19/cheyenne-files-for-chapter-11-bankruptcy-severs-ties-with-gary/http://massively.joystiq.com/2010/02/19/cheyenne-files-for-chapter-11-bankruptcy-severs-ties-with-gary/#commentsFiled under: , , , , ,

Anyone who has been keeping an eye on the situation surrounding Stargate Worlds, Cheyenne Mountain Entertainment and related publishing company FireSky, knows that there's been trouble brewing for some time. We've seen struggles to get funding, employees going unpaid, lawsuits for unpaid bills, and some of the studio's main names leaving the building. Still, they just released the FPS based on the work they'd been doing for Stargate Worlds, called Stargate: Resistance. The hope was that S:R would give Cheyenne Mountain Entertainment a much needed cash infusion.

Now, news has come to light that not only has Cheyenne Mountain Entertainment filed for Chapter 11 Bankruptcy protection, but they've also severed all ties with Gary Whiting -- former Chairman and CEO of CME. Add to that, the shareholders and Cheyenne Mountain have joined forces against Whiting in civil case (CV2010-003106) filed in Maricopa County, naming many other ventures including the curious "interactive social network," MMOGuls Inc. as co-defendants, in a civil complaint "alleging various wrong doing against the Company."

A statement detailing the company's current status was posted today to the Stargate Worlds forums. We've included it behind the break for those interested. In the meantime, let's hope that the change in leadership, combined with a reorganization under Chapter 11, and the release of Stargate: Resistance proves to be the boon that Cheyenne Mountain needs to get back on track -- and into the black.

Continue reading Cheyenne files for Chapter 11 bankruptcy, severs ties with Gary Whiting

MassivelyCheyenne files for Chapter 11 bankruptcy, severs ties with Gary Whiting originally appeared on Massively on Fri, 19 Feb 2010 17:20:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>bankruptcybreakingcheyenne-mountain-entertainmentcivil-court-casecmefireskygary-whitinglegalmaricopa-countyshenanigansstargate-resistancestargate-worldsFri, 19 Feb 2010 17:20:00 EST<![CDATA[Perpetual disbanding, STO in jeopardy [Updated]]]>http://massively.joystiq.com/2007/11/26/perpetual-disbanding-sto-in-jeopardy/http://massively.joystiq.com/2007/11/26/perpetual-disbanding-sto-in-jeopardy/http://massively.joystiq.com/2007/11/26/perpetual-disbanding-sto-in-jeopardy/#commentsFiled under: , , , ,

South Korean company Gravity was forced in a mandatory SEC report to spill the beans that Perpetual Entertainment is seeking liquidation of all its assets and will soon cease to exist as a company. Gravity had to disclose this information in compliance with US law to inform its shareholders that it stands to lose $9 million in investments in Perpetual Entertainment due to the company's failure.

Perpetual Entertainment filed for liquidation on the 10th of October, just a day after it announced the cancellation of its Gods & Heroes project. While appearances are that Star Trek Online has remained in some kind of development (however limited) in the short term, Perpetual will soon be forced to sell all its assets to pay off its debts.

That means that either Star Trek Online is due for cancellation, or the project will be sold to a new development studio. Perpetual's continued work on STO is evidence that it at least hopes to keep the project alive by handing it off to another company. We don't know if Perpetual already has a buyer lined up or which company that buyer would be.

[EDIT: WarCry's Razor has suggested that the SEC report is misleading and that this was just a part of the process of ending development of Gods & Heroes. His suggestion might be worthy of consideration, but there is not yet enough evidence behind it for us to call this a false alarm. We've sent an e-mail to our press contacts at Perpetual Entertainment for clarification and when/if we get a statement, we'll let you know.]

MassivelyPerpetual disbanding, STO in jeopardy [Updated] originally appeared on Massively on Mon, 26 Nov 2007 15:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>bankruptcybreakingbusinesscancellationchapter-11gods-and-heroesgravityindustryliquidationperpetualperpetual-entertainmentsecstar-trekstar-trek-onlinestoMon, 26 Nov 2007 15:30:00 EST