It’s official per the SEC filings, Perpetual Entertainment, the developers of the upcoming Star Trek Online MMO started liquidating assets the day after the cancellation of Gods and Heroes. All this was disclosed by their former investor Gravity, Korean developer of Ragnarok Online and online games distributor. Gravity had a 9 million dollar stake in Perpetual and has stated they do not expect to recieve any of their investment back at this time.

The terms of the liquidation haven’t been fully disclosed as of yet, however information from ShackNews points to a unnamed media company taking over with the intent to turn STO into a “casual friendly” title featuring one-time micro-transaction fee’s instead of a monthly subscription, a popular system for many “free to play” Korean MMO’s.

Surely, they’re basing this decision on the stellar success of all the quality Korean MMO’s ported stateside utilizing the same payment scheme?

To make it worse, the new media company looking to take over has zero experience in game development, and has never developed or released a single title before.

The anonymous source for ShackNews also claimed a number of Perpetual employees have already left the company over the dissatisfaction with the new direction of the games design.

While we await official confirmation by all accounts this news only seals the fate of the Star Trek Online title as dead on arrival for the hundreds of thousand of MMO gamers that had been skeptically awaiting its release.