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On the 14th I reported that Crytek had in their possession the tech for Microsoft's next console and that with it they were concentrating on making TimeSplitters 4.

According to Crytek themselves they have no idea what we're talking about. Below is the statement from Crytek to IGN.

"Relating to the recent rumours, Crytek do not have any next generation hardware from Microsoft, nor do we know when Microsoft may announce future hardware or what that hardware will entail.

Crytek are working at pushing the boundaries of what current technology can bring, including our focus on DX11 which will be released shortly as an update for Crysis 2, and we believe this work, added to our estimations of what the new hardware will provide, set up CryENGINE as a next generation engine for all consoles."

According to this statement; they didn't say they weren't making a TimeSplitters 4 ;)

[Kotaku]
 
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A source has reported that the successor to the Xbox 360 will in fact be shown at E3 2012 with Timesplitters 4 set to be a launch title.

Crytek is using Microsoft's DirectX 11 as the current basis for next-generation development. Tessellation, multithreaded rendering, and compute shaders are the three headlining features for DirectX 11.

Timesplitters is being developed with the CryEngine 3 and with the rumored reveal of the Next Xbox Microsoft is hoping to unveil the new console before Sony.

Both Microsoft and Crytek declined to comment.

With this news what does it say about Halo4? Will the new Halo trilogy run on Microsoft's new console?