Neon Machine, the developer of the encrypted shooter game Shrapnel, is facing serious financial difficulties, according to Internet reports. So far, the company has spent nearly US$86.9 million in working capital, and its revenue in 2024 will reach US$21.7 million. However, the high operating costs of approximately US$33 million have prevented it from making a profit, with a net loss of US$11.4 million. According to sources, Neon Machine consumes as much as US$2 million to US$3.5 million a month and is currently in a state of cash exhaustion. It has a large amount of outstanding debt and owes millions of dollars to external suppliers. Neon Machine's new round of financing originally scheduled to be completed in early 2025 has also failed to materialize. Previously, the company completed a US$20 million Series A financing in October 2023, led by Polychain Capital.