Wednesday, 28 July 2010

Playlogic In Financial Difficulties

Playlogic, the publisher behind Fairytale Fights is in a bit of financial trouble as the company recorded further losses during the first three months of the year.

Filings submitted to the SEC last month have revealed the publisher saw losses of $2.2 million between January and March and admitted to defaulting on weekly loan payments of €25,000 it has been obliged to pay since April this year.

However, Playlogic claims one of the publisher's main customers, Koch Media has not paid the company since December last year, something of which the publisher is taking legal action in pursuit of €1.7 million.

Lets hope they can get things sorted soon.

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