38 Studios, the dev company founded by former pro athlete Curt Schilling, has gone through the ringer this month financially. It was the recipient of a $75 million loan from the state of Rhode Island in 2010, and missed the payment on May 1. The company then cut a check for the $1.125 million payment, which bounced. They finally got it sorted out yesterday when the payment was made, saving the company from default. The embattled dev was forced to cut all of its temp employees and contractors and was unable to make payroll for its regular staff this week. Should they default on the loan, the taxpayers of RI would be stuck with the bill and would gain possession of the company’s IPs. The company is apparently seeking private investment, which to me sounds like starting one credit card to pay off another.
In other 38 news, the governor of Rhode Island, Lincon Chafee, claimed at a press conference that the company’s Amalur MMO would release in June 2013. No other details have been released about the upcoming game as of this time.
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