"Imagi International Holdings Ltd (OTCBB: IINHY, IINHY message board) has announced large scale review of operations which has mostly negative effect towards the staff.Very sad to hear that the US office is closed, and my best wishes go out to those who are effected. That said, Imagi has had some tough times and is still resolved to staying active and completing their Gatchaman movie, so perhaps this will wind up being the best solution for now. By the looks of things they will still retain some sort of presence in LA.
The company has cut off their US subsidiaries from any funding, the working contracts for 30 employees were terminated and the Los Angeles based office closed. The company was left with only a few important staff members being utilized as consultants and has transferred the functions of the closed office to other contractors."
Imagi has updated their website recently, with a new logo and a very sharp new design. Let's all hope for an equally revitalized company this new year!
More information can be found thanks to Anime News Network.