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British developer announces ‘extremely limited period’ of survival on current cash reserves…
Argonaut Games, one of the UKâ??s largest independent developing companies, has been suspended from trading on the London Stock Exchange due to financial difficulties following a short announcement from the firm.
The company cites the fact that major contracts that were expected to be signed over the summer, before the annual results were released, had not been signed.
In a statement made this morning, Argonaut advised that, "In the absence of these development agreements being immediately secured, the Group's existing cash resources will provide funding for only an extremely limited period and Argonaut may not be able to continue to trade."
TVG will be following the story of Argonaut Gameâ??s difficulties and will have more on the story soonâ?¦
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