Crytek sets the record straight on its financial situation

By Stephany Nunneley, Friday, 25 July 2014 21:01 GMT

Crytek has finally shed some light on its purported financial woes by acknowledging in a statement that the “transitional phase” of moving from developer to publisher caused a bit of an issue.

In the statement handed to GI International, Crytek stated things have turned around, as it was able to secure more capital in order to “concentrate on the long term strategic direction” of the company.

The firm also stated it could have done better by its employees by providing a “better flow of information,” but due to the circumstances,. “communicating details of our plans publicly has not always been possible.”

It’s also being reported that Crytek UK employees have finally been paid, after not having been provided full wages since April.

“Like the games industry as a whole, Crytek has been in a transitional phase,” reads the statement. “Our evolution from a development studio to an Online-Publisher has required us to refocus our strategies. These challenges go along with an increased demand for capital which we have secured.

“We can now concentrate on the long term strategic direction of Crytek and our core competencies. We kindly ask for your understanding, that we won’t be communicating further details about our developments and progress. We have now laid the foundations for securing Crytek’s future – not just in the short term, but also long term.

“We are confident that we will be able to share more positive news on Crytek’s progress soon.”

The full statement is through the link.

Since June, there have been rumors of a mass staffers leaving Crytek UK along with reports of financial troubles at the home office.

A rumor was also circulating that Ryse 2 had been cancelled , all the while Crytek denied any financial troubles.

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