Sony Online Entertainment has announced the development of Cash Money chaos for PSP, with a North American release date during the first quarter of 2007.

Sounding like a even crazier version of classic arcade shooter Smash TV, Cash Money Chaos sees gamers control an alien abductee forced to fight through over fifty levels of chaos and action in a 70s-style gameshow as they try to collect cash and prizes. Levels are set in a number of strange locations from swamps to circus tents, whilst some of the enemies include Hillbillies, ninjas, and clowns...

Besides the solo mode, Cash Money Chaos will also include 8-player Infrastructure and 2-4 player Ad Hoc multiplayer, set across 8 maps with full leaderboard structures in place.

"Cash Money Chaos is an action-packed, arcade-style shooter that explodes a new genre onto the PSP," said Chris Sturr, Senior Global Brand Manager, Sony Online Entertainment. "CMC will have players scratching their heads, asking themselves if they really just saw - and shot - what they think they did. Of course, taking your hands off the controls to scratch your head may be detrimental to surviving the next wave of killer gorillas or demented clowns."

A European publisher for the game is yet to be unveiled.

We'll have more on Cash Money Chaos shortly...