Developer Red Mile needs to “substantially” increase its credit within 30 days, or its current project, Sin City may never see the light of day.
The current line of credit only reaches $1 million, and Red Mile says it’ll need $10 million to survive the two or three years it needs to finish the game. Without those extra resources, it’s likely both Sin City and Heroes Over Europe will plunge into the shadows, never to be heard from again.
If Red Mile does manage to secure this capital, it has a strategic plan “to contribute to meeting the Company’s cash flow requirements,” but as of yet, no promises.
To make matters worse, in December last year, Red Mile had terminated its merger agreement with Canadian game company SilverBirch (Site down at the moment) “based on a material breach by SilverBirch.” The companies had announced the merger in July 2008.
Source: Edge Magazine