Atari is perhaps the most recognized name in the video game business, but it also has a history of having both the best of times and the worst of times. Atari announced today a loss of $12 million dollars and revenues of only $10 million. It seems that Atari is suffering the worst of times again and it continues to sell of some of its valuable and profitable properties just to continue to survive.

With the current situation, Atari announced that it currently does not even have a sufficient line of credit to see itself through this holiday season. Due to this fact Atari is going to have to look at additional options to raise the necessary funds to make it through the holiday season. The company continues to overhaul personnel and make cuts, but some doubt that it will be enough to keep the company alive.

Atari once again may be forced to sell out or liquidate to avoid total bankruptcy. This is a truly a sad state of affairs for a once proud publisher that seems to continue to suffer bad consequences.