Auditors Concerned with IMAGI’s Funds
Audit firm Deloitte Touche Tohmatsu announced in late December that “it is uncertain whether the group (IMAGI) will have the necessary finacial resources to complete” work on planned titles after Astro Boy. This includes Gatchamanm, Tusker, and Cat Tale.
Deloitte Touche Tohmatsu said the studio had about HK88.9 million (US 11.5 million) in the bank and in cash on September 30. IMAGI announced it would need around US$66 million to complete it’s films and pay expenses through June 2010. US$45.6 million of that number is needed in the next 12 months. IMAGI is still raising money for it’s films and may meet it’s goals for 2009 and 2010.
Gatchaman was slate for release in 2008, but was pushed back to 2009. Now Felix Ip, creative director at IMAGI, has posted in his blog that Gatchaman will not come in 2009.
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