The next week and a half may finally bring resolution to the curious case of Stargate Worlds. According to a former employee who has recently left the company, Firesky has until August 1st to raise capital or MGM will pull the license.
At this time, the company’s last hope appears to be a group of doctors who are considering an $8 million investment into the company. This cash infusion would keep the company alive, allow it to pay off back wages and launch Stargate Worlds. However, our anonymous source does not believe that the deal will get done.
Shane Hensley, who is heading up a separate project Firesky’s Supersition Studios, and also serves as the company’s Director of New Business Development, responded to the report: “We do continue to talk to investors, including the doctors.”
He went on to say that the company has never considered scrapping Stargate Worlds, and denied that the license was on the verge of being pulled.
“MGM certainly isn't thrilled with our current situation, but neither do we have any specific indication they're pulling the license on any particular date,” he told us.
Firesky, which had several projects on the go, essentially ran out of money last fall, but rather than pull the plug, has continued to move forward. Most of the key personnel have moved onto other projects and many are behind on pay.
At this time, according to our sources, there is only one member of the client team and one member of the server team still at work on the game.
“Overall, funding is obviously a huge challenge for us, but our management is working on it daily,” Hensley said. “It's visible progress and we obviously have great faith. The struggle has been more than most could bear, but there are a few here who have independent means or significant personal investment who have been able to ride it out.”
While Hensley obviously continues to have some hope that the troubled company can come back, he is also realistic.
“I doubt this will last much longer, but those who are here currently are amazingly dedicated and continue to make progress on our projects despite the circumstances.”
This latest news likely means that the company’s only real chance at survival remains traditional investment. A community driven investment project they called MMOGULS, which asked regular people to invest up front for a return on the other side had made waves in the community. However, according to Hensley, while that project is run by the owner of Firesky, it is completely separate from the company.