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.

“Gatchaman,” scheduled for release in early 2009, is directed by Kevin Munroe, most famous for directing 2007’s TMNT, and is written by Paul Dini, a five-time Emmy Award winner for his work on Tiny Toon Adventures, Batman: The Animated Series and Batman Beyond.

“Gatchaman” originated in Japan in the early 1970s as the television series “Science Ninja Team Gatchaman.” Aired in the U.S. as “Battle of the Planets” and “G-Force,” it soon became a widely popular syndicated TV series.

Featuring some of the most ambitious action sequences ever seen in animation, “Gatchaman” is set in a future world grappling with environmental and technological issues. The story focuses on five reluctant heroes whose remarkable genetic code makes them Earth’s only hope of defeating extra-terrestrial invaders.

Imagi Animation Studios is also producing Astro Boy, based on the highly successful Japanese franchise of the same name by Osamu Tezuka, scheduled for release on October 23, 2009.