Red Mile's Financials Paltry, Closure Looming
by Rainier on Feb. 17, 2009 @ 3:37 p.m. PST | Filed under News
Red Mile Entertainment's latest fiscal statement reveals that the publisher is in a bad financial position with barely $341k in cash, which it expects to run out of Mar. 31, 2009. Since its launch, Red Mile has not made any profit and lost $35 million. Last year, a merger with SilverBirch went sour at the last minute, and earlier this month, the Heroes over Europe developer terminated its contract due to non-payment, while co-publisher Atari also backed out. Red Mile is in dire need of $10 million to finish current developments, like Sin City: The Game, or it will be forced to shut down.
