Now, the company may be teetering on the edge of bankruptcy, with stock having plummeted 64 percent in normal trading on the London Stock Exchange today.
The reason for the decline in the firm's fortunes? An outstanding loan payment of £275,000 (around $421,500) owed by one of Zattikka's subsidiaries, browser-based gaming outfit Hattrick.
Money matters
The loan was due on 9 July and, if the firm fails to make it by 2 August, it's claimed the loan holders will seek to claim the debt owed in full equal to 6.4 million ($8.4 million) within two working days.
Commentators have been quick to suggest that, if Zattikka is unable to make the small interest payment of £275,000, reason suggests paying off the loan in full would be beyond its financial capabilities, with bankruptcy the only viable option.
Chart sourced from Bloomberg
After raising $20 million in funding back in April of 2012, Zattikka went on something of a buying blitz.
The firm snatched up a trio of gaming firms in the process: the aforementioned Swedish football management game outfit Hattrick, US/Chinese art and design specialist Concept Art House, and US casual gaming studio Sneaky Games.
Zattikka has entered into negotiations with its loan holder to extinguish a substantial portion of the group's liabilities, and it will update the market with the result of these negotiations in due course.
[source: StockMarketWire]
