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Marshall Barnes Offers Way Out For Rhode Island's 75 Million Dollar, 38 Studios Debacle

In the week after Curt Schilling has laid off his entire staff at 38 Studios, Marshall Barnes announces he has a plan that would enable the Rhode Island Economic Development Corporation to recoup their $75 mil. investment Schilling's video game firm.

 
 
Marshall Barnes, R&D Eng with plan for $75,000,000 EDC rescue.
Marshall Barnes, R&D Eng with plan for $75,000,000 EDC rescue.
PRLog - May 29, 2012 - YELLOW SPRINGS, Ohio -- Research and development engineer Marshall Barnes announces that he is willing to offer the Rhode Island Economic Development Corporation a way to recoup their potential 75 million dollar loss from failing video game company, 38 Studios. The gaming concern was started by Major League Baseball pitcher Curt Schilling. Last week Schilling laid off his entire company without warning after defaulting on a payment of 1.1 million dollars to the state's Economic Development Corporation.

Last Friday, Marshall left a voice message at the EDC for someone to return his call if the state was interested in a way to save their $75 mil. investment in 38 Studios. He also sent an email to 38 Studios' investor email account concerning a way to save the company. He now states, that after reviewing available information about the firm, he doubts that he'll be able to do that, although it may be possible in a different form.

"What I can offer the EDC is a way that they can see their $75 million back, as well as some economic and educational development help for Rhode Island." Marshall stated. "What I can do is create a way, to leverage the considerable technological assets that I have, to facilitate a solution that would help Mr. Schilling, at least in terms of his debt to the state, and perhaps resurrect 38 Studios later in a new way; while simultaneously providing revenue generating opportunities that could cover the amount of the $75 mil. that would be exposed to default in the meantime. For example if the EDC ends up owning 38 Studios and sells it or its assets, there may still be a large balance left. My plan would address that".

It has been estimated by various industry experts that Marshall http://informalscience.org/member/show/8498 owns technology rights that would be valued in the millions once commercially exploited, and could eventually reach the billion dollar mark in less than 10 years. They include developments in advanced propulsion, home entertainment, military technology, medicine, motion pictures, among many others.

"If the parties involved want a viable resolution, that I think could be the best current option for all involved, all they have to do is pick up the phone and make it happen," Marshall said.

Photo:
http://www.prlog.org/11886678/1

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Source:Fame Plan
City/Town:Yellow Springs - Ohio - United States
Industry:Entertainment, Technology
Tags:Curt Schilling, 38 Studios, marshall barnes, Rhode Island EDC, 75 million
Shortcut:prlog.org/11886678
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