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Introversion
The Introversion Forums
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Chris
Introversion Staff
Joined: 25 Nov 2000
Posts: 1096
Location: Cambridge, UK
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 Posted: Wed Sep 22, 2004 4:48 pm Post subject: Strategy First in Chapter 11 bankruptcy protection |
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Strategy First, the company which publishes "Uplink:Hacker Elite" in America and Canada, has filed for Chapter 11 bankruptcy protection as of late August, reporting a debt of over $5 million. The company suspended all royalty payments to Introversion Software during Spring 2003, and we have not received anything since.
At this date Strategy First owe us tens of thousands of dollars in unpaid royalties. We have decided to announce this now that their financial situation has been made public. Although this has placed considerable financial strain on Introversion it will not affect the release of Darwinia as we have known about this information for over a year and have planned accordingly.
Introversion will survive to put Darwinia on the shelves, but your support along the way is greatly appreciated. |
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Starfyre
Joined: 29 Jun 2002
Posts: 3247
Location: in the tree house
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| Posted: Wed Sep 22, 2004 5:44 pm Post subject: |
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Holy Jesus...
Last thing I want to see is one of the most innovative uprising game developers run into the ground!
*would buy a poster but has no CC*
*waits for PayPal thingie* |
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edd8990
Joined: 23 Apr 2003
Posts: 1738
Location: Crewe, Cheshire, England
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| Posted: Wed Sep 22, 2004 6:07 pm Post subject: |
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| Wow, heavy. At least IV aren't bankrupt. EVERYONE WHO HASN'T BOUGHT A POSTER, BUY ONE NOW. GET A MATE WITH A CREDIT CARD AND GIVE THEM MONEY BY PAYPAL. |
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Lord_Doskias
Joined: 10 Jul 2004
Posts: 603
Location: over there
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| Posted: Wed Sep 22, 2004 8:10 pm Post subject: |
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| wowz, lets hope they start paying up. just threaten to sue a bunch. heh, that will get them to give up the royalties. maybe they dont really have a $5 million dollar debt and they just want to keep the money! |
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Stewsburntmonkey
Joined: 10 Jul 2002
Posts: 11554
Location: Nashville, TN
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| Posted: Wed Sep 22, 2004 8:29 pm Post subject: |
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| Lord_Doskias wrote: |
| wowz, lets hope they start paying up. just threaten to sue a bunch. heh, that will get them to give up the royalties. maybe they dont really have a $5 million dollar debt and they just want to keep the money! |
Filing for Chapter 11 protects the company from being sued. Not to mention IV doesn't have money to waste on lawyers. Hopefully at some point Strategy First will imerge from Chapter 11 and pay IV its due.
This has to have been a rather major hit for you guys over the past year though. That's pretty rough. Hope future partnerships would out better.  |
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da_zeg
Joined: 29 Jun 2004
Posts: 227
Location: West Lothian, Scotland
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| Posted: Wed Sep 22, 2004 9:37 pm Post subject: |
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Why is it always the little guy who ends up being screwed over???
/me raises arms to sky
Why??? |
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Rubber_Duckie
Joined: 03 Jun 2004
Posts: 4
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| Posted: Thu Sep 23, 2004 2:18 am Post subject: |
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/me bought a poster.
Keep up the good work IV! |
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Rkiver
Joined: 01 Oct 2002
Posts: 6380
Location: Dublin, Ireland
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| Posted: Thu Sep 23, 2004 9:27 am Post subject: |
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Fucking hell, they waited over a year to go public on this? Technically that means they legally owe your everything up till the time they filed for Chapter 11, if I'm not mistaken.
Well hopefully you will get what they owe you eventually, as hell I know you need the cash, and deserve it. |
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Tom
Introversion Staff
Joined: 30 May 2001
Posts: 95
Location: London / Heidelberg
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| Posted: Thu Sep 23, 2004 10:47 am Post subject: |
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We did persue them with threats of legal action although we were advised not to persue them. It would take two years by which time the defendants would have most likely already filed for protection... which they did.
Their honesty to pay their dues is all we can therefore rely on...
Meanwhile, times are tough at IV. |
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Rkiver
Joined: 01 Oct 2002
Posts: 6380
Location: Dublin, Ireland
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| Posted: Thu Sep 23, 2004 12:22 pm Post subject: |
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| I wouldn't hold your breathe waiting. Fuck, even if we all purchase a poster it would barely help. There has to be something else we can all do. |
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Riddla
Joined: 28 Feb 2004
Posts: 262
Location: Sooomewheaaaaarrre over the raiaiiiiiiinbooow...
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| Posted: Thu Sep 23, 2004 12:31 pm Post subject: |
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That is all.
/me is completely dejected |
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Miah
Joined: 13 Oct 2003
Posts: 3155
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| Posted: Thu Sep 23, 2004 1:19 pm Post subject: |
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mmm... This is certainly a rough spot for Introversion as well, as if they wish to be sold in stores in america (as far as darwinia is concerned), they'll have to find someone else.
This was actually a rather somber thing to wake up to, this morning, and I hope all is seen through.
Still, I fear it may not. A debt of over $5 million USD is not a small amount.
If Introversion wishes, I think I would also be able to make at least a small donation to assist the aches and pains that they are likely feeling with the thousands in unpaid royalties.
As an afterthought, I add:
Is this possibly the reason that I saw Uplink: Harker Elite being sold at a mere $6-$8 versus the suggested $25? |
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elDiablo
Introversion Staff
Joined: 14 Mar 2002
Posts: 3022
Location: London, UK
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| Posted: Thu Sep 23, 2004 2:33 pm Post subject: |
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Wooooo... Not nice. Already bought a poster or 3, so good luck getting Darwinia out! Glad you guys planned for it  |
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Phydaux
Joined: 26 Feb 2002
Posts: 1615
Location: Cardiff, UK
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| Posted: Thu Sep 23, 2004 9:25 pm Post subject: |
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OMG!
Didn't realise you guys were in such of a state. It must feel like somedays the whole world is against you, the small guy.
So do you have other plans for a US release? (Apart from direct) I can imagine that it's not too easy to negotiate with stores direct.
You must have some other money-making schemes beyond just posters, and the final realise of darwinia?
Could you maybe knock up some other merhandise, with the option of getting us to order first, then you get them made up, so you don't have wasted stock lying around.
What about fan subscriptions? And the subscribed members get elevated forum privalages, the option to buy the game before release, snippits of news (access to an IV blog?) and other benifits?
I suppose I'm rambling now 
I guess there are some benifits working a boring job 9-5. Like a steady, secure income, that pays for the roof over my head and the food in my belly.
/me goes off to buy a poster... |
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Superpig
Joined: 04 May 2002
Posts: 658
Location: Right behind you
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| Posted: Thu Sep 23, 2004 9:50 pm Post subject: |
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Dun dun dun... another publisher bites the dust!
A word to the wise: when you publish Darwinia in the UK, don't sign up with Eidos for it. ^_^
Anyhoo, hope you get the cash eventually. I'll see about buying a poster or two in the meantime. |
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