Videogame publisher Red Mile has said that it will be unable to complete development of Heroes Over Europe and Sin City: The Game unless it can secure additional funding very quickly through loans or advances.
In a rather grim filing with the SEC (thanks GameSpot), the publisher blames Atari's decision to terminate the two firms' Heroes Over Europe publishing agreement citing breach of contract (which Red Mile disputes), along with IR Gurus' (otherwise known as Transmission Games) similar termination on the development front due to unpaid bills.
"The Company is attempting to increase its revolving line of credit with Tiger Paw Capital Corporation," the filing said. "If the Company is unable to substantially increase such line of credit within the next 30 days, the Company will likely cease operations."
"We anticipate needing an additional USD 10,000,000 to finance our planned operations over the next 24 to 36 months. We will be unable to complete development of Heroes Over Europe and Sin City: The Game (working title), or publish any other additional games if we are unable to receive co-publishing advances on both the foregoing titles or raise additional capital through either sale of securities or issuance of debt," the statement added.
Of the two games, we knew far more about Heroes Over Europe, a World War II flight combat game for Xbox 360, PS3 and PC, for which numerous assets were released ahead of a proposed 2009 launch. Sin City was a bit nebulous, and switched developers for reasons unknown some time ago.