The latest?
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Knightmare VR was sadly shelved about three years ago, because Televirtual couldn't find a TV channel that was interested in investing in a full series.
http://www.knightmare.com/knews/knightmare_vr/index.htm
There may still be a chance that development of Timegate will restart some time soon, although there's been no word about it for so long that you have to wonder whether it's simply been forgotten.
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