There's good news and bad news from NYC-based indie developer Powerhead Games, creator of addictive, IGF Mobile-winning title Glow Artisan. The bad news: all of the studio's [EDIT: twelve] dev-based employees were laid off on Friday, though the company still exists and could possibly return with new projects.

An hour before the team closed up shop, though, it pushed out one last project and submitted the title to Apple's App Store. The game, ASYNC Corp, is expected to release in a couple weeks (unless it fails submission due to bugs, which Powerhead would have trouble fixing with no workers).

ASYNC Corp looks like a really cute puzzler with some great music, just based on the trailer above, so hopefully we'll see the game some day. In the meantime, you can still buy Powerhead's first original game, Glow Artisan, for DSiWare, iOS (free version here), and WP7.