As most of us know, Flagship Studios bombed. Personally, I believe they bit off more then they could chew a little to quickly.. Anyway, looks like Phil Shenk (Co-founder of Flagship) has found a few more supports and is planning to open an new start up studio by the name of ‘Gravity Bear’ and will become it’s CEO. Kevin Klemmick has signed on to become the start ups Technical direction. You might know Mr. Klemmick from such games as Hellgate: London.