The lights have officially gone out on Cheyenne Mountain Entertainment development has halted, on the long awaited and seriously overdue Stargate Worlds and their latest release Stargate Resistance has been sold to a new studio.
The company itself has debts, liabilities and obligations in the region of $16 Million, $1.1 million being in payroll alone spanning back over the past 12 months.
To help cover the spiralling debt mountain the company has sold its recently released title Stargate Resistance to new start up ‘Fresh Studio’, fans can be rest assured that Stargate Resistance isn’t dead, with the game only having received an update days ago.
When the company filed for bankruptcy protection last month it blamed the decision to do so on its former chairman and CEO, alleging shady dealings that sent payments to a shell company he owns and reneged on the terms and payments of a stock purchase. At the time, the company indicated that the bankruptcy filing could have been pulled back. But if a court has come in to manage and/or sell off the company’s property, it looks like game over