diff --git a/README.md b/README.md
index 401cc035..62941250 100644
--- a/README.md
+++ b/README.md
@@ -1,20 +1,22 @@
 # Cave Story Engine 2
-I'm rewriting Cave Story Engine from scratch, to be more accurate than before!
 
-Cave Story Engine is a recompilation of Cave Story (freeware release), also porting it from DirectX to SDL2
+Cave Story Engine is an in-progress decompilation of Cave Story (freeware release), ported from DirectX to SDL2.
 
 ![Screenshot](screenshot.png)
 
-How to build:
+## Dependencies
 
-Create "build" directory
+This project currently depends on SDL2 and Freetype2.
 
-cd to the base directory,
+## Building
 
-make (RELEASE=1 for release build)
+Just run 'make' in the base directory, preferably with some of the following optional settings:
 
+* RELEASE=1 to compile a release build (optimised, stripped, etc.)
+* STATIC=1 to produce a statically-linked executable (good for Windows builds)
+* JAPANESE=1 to enable the Japanese-language build (instead of the unofficial Aeon Genesis English translation)
+* FIX_BUGS=1 to fix certain bugs (see [src/Bug Fixes.txt](https://github.com/cuckydev/Cave-Story-Engine-2/blob/master/src/Bug%20Fixes.txt))
 
+## Licensing
 
-JAPANESE=1 to enable certain Japanese differences
-
-FIX_BUGS=1 to fix certain bugs (see src/Bug Fixes.txt)
+Being a decompilation, the majority of the code in this project belongs to Daisuke "Pixel" Amaya - not us. We've yet to agree on a license for our own code.