HEXUS.gaming Feature :: The Gizmondo Financial Report

Now before you all drop off to sleep thinking this is going to be a load of boring old twaddle, just take a minute to have a read of Gizmondo's financial report. Well, not the actual report, but our take on it.

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Let’s have a closer look at Northern Lights now after all Chicane and Colors are touted as being leading titles on the Giz. Except that the games aren’t being developed by Northern Lights, but by Warthog and Indie Studios, both in-house developers for Gizmondo.

So let’s just get this straight, Gizmondo are paying Northern Lights to develop games that Gizmondo are developing in-house? A little delving and the co-owners of Northern Lights are revealed as Carl Freer and Stefan Eriksson. Nothing wrong there until you discover that Freer is Managing Director of Gizmondo Europe and Eriksson is Director of Gizmondo Europe.

Given that Warthog and Indie Studios are in-house developers for Gizmondo, doesn’t that kind of leave Gizmondo paying Northern Lights for games Gizmondo are already working on, to the benefit of Freer and Eriksson?

And it doesn't stop there... Check out the full feature over on HEXUS.gaming which might help in explaining why Gizmondo have lost USD $210 million in the first half of 2005 alone!

thatt sort of thing does not bode well for Gizmondo, which is a shame as on paper it looks like a cracking unit.

tax dodge :x

Looks like its going the same way as the Zodiac... Though the Zodiac still rocks because running Palm OS it doesn't need Tapwave to function further.

makes interesting reading- i wonder if tiger telematics will be around for much longer... ....or will they be able to find more investors to shore up the companies crumbling balance sheet in the hope of backing the next playstation...