Elixir Press Release
) announces that the U.K.-based developer
behind Evil Genius is ceasing day-to-day operations effective immediately, "and
will seek the orderly sale and re-use of all its remaining assets and IP."
Following the successful release of Evil Genius in October
2004, the Company has been working on a very innovative game for a major US
software and games publisher for the past couple of years. This project was
recently cancelled due to the perceived high-risk profile of the endeavour.
Elixir also has a number of promising original prototypes at various stages of
development but the Board of Directors feel that the current risk averse
publishing climate, in the run up to the launch of next generation platforms,
virtually precludes the signing of any original IP (which is not already part of
a well-established franchise or license), without an unreasonably large
strategic investment in the project by the developer themselves.
In light of the above, and the current financial and market conditions, the
Directors have taken the decision to use a part of the cash resources held by
the Company to treat its employees in a professional manner by paying redundancy
packages to everyone and to allow an orderly wind-down of operations.