Atari continues its death throes by announcing the cessation of work on current projects, the laying off of more staff and the sales of the remainder of its IPs. This is like the business equivalent of hitting the reset button instead of just quitting. Following the departure of the Atari CEO last week, the company also posted an $8 million Q2 loss -- this follows the recent and strategically delayed announcement of a $12 million Q1 loss.

Atari's parent company Infogrames has already made clear the intention of leaving its child on the side of the road, hoping it'll figure out the way home by its lonesome. What's even worse is that Atari's essentially admitting the fixes it has planned may not be able to turn the ship around, stating in a report, "We cannot guarantee the completion of these actions or that such actions will generate sufficient resources to fully address the uncertainties of our financial position." Translation: We ain't gots a clue what be happenin'. There's no word really on what games Atari is going to kill to save money, but at this point you'd think that Alone in the Dark would be the last development hurrah -- but we'll see.

This article was originally published on Joystiq.

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