iCandy Interactive Ltd (AU:ICI) has released an update.
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iCandy Interactive Ltd, an Australian-based game development group, has announced the shutdown of its subsidiary Flying Sheep Studios due to a significant decline in the HTML5 game market and financial losses totaling over A$2 million. The closure is expected to positively impact iCandy’s financials as it will no longer consolidate Flying Sheep’s losses and plans to refocus its European market strategies through its Asian studios. In other news, iCandy’s joint venture ZKCandy has successfully completed a private testnet trial with overwhelming user participation, paving the way for a public trial and an upcoming Mainnet launch.
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