Swedish studio Isbit Games shuts down after running out of funds

Warp Shift and Zlatan Legends developer Isbit Games has shut down after running out of cash. 

Isbit chief exec Ben Cousins broke the news on Twitter, and explained the Swedish studio was making "great progress" with its upcoming game Moonway, but was ultimately forced to close its doors and scrap the project. 

A post on the company website also confirmed the situation, and revealed Isbit actually closed its doors in June. Given the project has now been canned, the studio also shared a sneak peek look at Moonway, which was pitched as a narrative-driven adventure set in a sinking world. 

"We are really proud over the games we have made in just a few years, [and] we have been working very hard to fight for the survival of the studio and a chance to show the world the next game we have been working on," reads a statement.

"But a decision was made to dissolve our studio. We are thankful and humbled by the love our games have received and we wanted to show the full potential of Isbit with our next game. Hopefully the idea and concept will survive but as of now we can just thank you and give you a sneak peak of what we wanted to create."