By July 2002, not long after "Frank Herbert's Dune" flopped, the value of Cryo shares had plummeted and the financial situation of the company, who had closed its North American branch Cryo Studios the year before, was no longer sustainable. Cryo failed to negotiate a deal with its creditors, consequently filing for insolvency and making over 80 percent of its workforce redundant. Subsidiary Cryo Networks ceased operations shortly thereafter, leaving its then-ongoing projects "DUNE Generations" and "Black Moon Chronicles: Wind of War" unfinished. In October 2002, the parent company was put on liquidation, but subsequent negotiations ultimately caused DreamCatcher Interactive to absorb most of its assets and development teams, thus forming the base for DreamCatcher Europe.