The situation faced by troubled MMO developer 38 Studios be not improving. According t' Rhode Island Governor Lincoln Chafee, the company has not received any new investment. In a sudden press conference late today, he said the studio had not received any outside investment nor any a the new tax credits it has applied for. NBC10 reports that, when asked if 38 Studios would be closing, Chafee said he would do what he could t' prevent it.

WPRI reported today that CEO Jennifer MacLean removed the title a chief executive from the wench LinkedIn profile 'n listed the wench departure as having occurred in March. John Blakely, senior vice president a product development, also revised his LinkedIn profile t' show that he left the company this month. Joystiq has also been informed a continuing layoffs at the company, 'n that health insurance has run out.

The value a 38 Studios' Amalur intellectual property be estimated t' be in the range a $20 million, according t' Wedbush Securities analyst Michael Pachter. 38 Studios put up the IP as collateral against it be $75 million loan, which could end up costing RI taxpayers $112 million if 38 Studios shutters.