Foretold Studios Faces Financial Struggles, Failing to Pay Employee Wages

Developer of Tollan Universe, Foretold Studios, is experiencing significant financial difficulties, resulting in unpaid wages for its employees. According to a report, these issues began as early as September of the previous year, with current and former staff members alleging that CEO Michael Kuvshynov has failed to maintain transparent communication regarding the company's cash flow problems. Moreover, despite owing outstanding wages to current and former employees, the studio has continued to recruit new staff. Former employees claim they are still awaiting payment for several months of work, totaling tens of thousands of dollars. One employee recounted having to plead for $200 to cover basic necessities, only to be initially offered payment in cryptocurrency by the CEO. The employee described the experience as 'one of the most humiliating conversations I've ever had, begging for money for food that he owed me.' Another former developer, who chose to remain anonymous, stated that the CEO had assured them of imminent investor funding, but after a month of paid wages, the payment was delayed and eventually stopped altogether, with an attempt to reduce previously agreed-upon salaries. Former Foretold artist Arkadi Allakhverdiev shared a similar experience, receiving their first wage after starting in September 2023 but not being paid since. Allakhverdiev left the company in April 2024, still owed at least $8,700. In response to these allegations, CEO Kuvshynov acknowledged the company's fundraising struggles over the past 12 months, which have hindered their ability to pay salaries. However, he claimed that the company has been transparent about the situation and offered stock options as compensation for the employees' work. For those who declined the stock options and chose to leave, Kuvshynov stated that the company would compensate them once funding is secured. Nevertheless, three former developers have disputed these claims, asserting that the company's leadership has not been forthcoming about the studio's financial constraints.