This going to be a short film, 8 minutes long (or at least, that was the original plan, but some people here are saying that it might become a feature film). It's been turning some heads, however, because it's unusually well-done for a first film... and a lot more tasteful than the 3D films coming out of Russia, to be perfectly honest. They even turned some heads at Pixar (recounted in this blog entry) and got an invitation to visit the studio.
The studio has had trouble finding money since the financial crisis, so they don't know when it will be completed. They do various other odd jobs (such as making emoticon smilies) to earn some money which then goes into the film. Any interested investors can send an email to firstname.lastname@example.org.
So why does this look so much better than upcoming Russian 3D features (you can see a few recent trailers of those over here)? I think this comment says it best:
The difference is that people are making this film with love, in contrast to the Russian analogues.
The problem with the upcoming Russian 3D films is that there is no love in them at all.
There is, instead, a constant desire to save money, to speed through, to rollback + an absolutely amateurish relationship with the work that one is making, both in the technical and in the moral sense.
The result of all this is a dull, unloved child.
His father didn't make an effort, and his mother didn't care.