The Atari Company has deep financial problems for about 10 years now.
They avoided bankruptcy at the last second only because a french person bought the company with the purpose to use the name.
I never liked the Deal at all with Atari. I think Yat Siu made the deal because more of a friendship background instead of business reasons because he worked for this company and has close relationships with the CEO there.
Not a good sign when Atari is selling their shares of 1.2 Million US Dollars.
If they have huge financial problems then dont forget that they are still a business partner of Animoca.
Other reason would be that they dont believe in this company. Indeed a very bad sign if even business partners with insider informations and close relationships to the CEO of Animoca with first hand news on their desks get rid of their shares of 1.2 Million Dollars.
A very interesting question is: Who bought these shares?
One frustrating thing what comes into my mind is that Animoca bought these shares themselves. Once again because of friendship reasons.
In this case they would throw valuable stock holder money in unprofessional way.
Thats what so dangerous with this situation and i try to explain it to you for more than a year now:
This delisted company can do whatever they want to do with our money without even getting the official agreement from us, the stock holders, because they are delisted. They dont evenhave towant to inform us.
Without audited reports and without reports at all we cant even check what they are doing with the company money and their business actions.
And people still approve what this company is doing.
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