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Finance

Stargate developer faces cash squeeze

Mon 08 Dec 2008 10:47am GMT / 5:47am EST / 2:47am PST
OnlineFinancePublishing

But sources indicate funds have now been released to payroll

Cheyenne Mountain Entertainment, the company behind forthcoming MMO Stargate Worlds, has admitted that it is having "cash-flow issues" which led to an anonymous website being set up detailing the length of time since staff members were last paid.

That site currently specifies 25 days, although sources have indicated to GamesIndustry.biz that funds were obtained and released to the company's payroll department at the end of last week.

The official statement on the matter reads as follows:

"At Cheyenne Mountain Entertainment, we have always been upfront with the media and our fans that we are a start up. Like many start-ups, we face the same cash-flow issues that all pre-revenue companies face.

"We have maintained a core of dedicated investors, but the new economic realities are forcing us to seek out additional sources of funding and that's what we're doing.

"We continue to move forward on the Stargate Worlds project. We recently completed a successful phase of closed beta testing and we will start a second phase early in 2009. We invite all of your readers to come to our site, check out our fantastic community and sign up for our beta."

More on Cheyenne's MMO plans for Stargate Worlds can be read in the GamesIndustry.bizinterview from this year's Games Convention.

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