Heres the quote from the official website
Hello Everyone,
I know the community has been anxiously awaiting the release of Blackshot, and with lack of information on our part, this has caused confusion and disappointment. At this time, it is still undecided on an appropriate release date for Blackshot due to many reasons we cannot divulge. However, instead of leaving you with little to no reasoning, I will do my best to explain the situation without breach of contract between Publisher/Developer.
Blackshot is complete in terms of server structure and client. IF we wanted to open Blackshot, it could be open and playable in about 2 weeks. The halt on release has nothing to do with the quality of Outspark service nor does it have to do with the quality of the game. Because of contractual disagreements between both parties (publisher/developer), this has caused a delay in what we had hopes of a triple A title. I cannot divulge the details of the clauses stated in the contract but please understand, Outspark wants to take every precaution in ensuring the best quality game for our community. While this statement may not answer everyones questions, I hope that you will understand there is an underlying part of the business that we take seriously.
This does not mean it is the end of Blackshot though. All I can say is that we have a few more kinks to work out before we can continue to move on. We do truly do appreciate every single one of you that has had nothing but patience for us, even the ones who no longer are with us.
Thank you,
SKiNG
*edit - In case those who may have misunderstood, when i say 2 weeks, I mean the progress of the game itself would be ready to go. Not actual release date.