Platt confirmed no talks had taken place amongst the City hierarchy and a final decision would not be made until all relevant parties had an input into discussions.
However, whilst City do have grievances over the manner in which Balotelli's alleged stamp on Scott Parker has been dealt with, Platt accepted the slow-motion pictures "do not look good", and said: "We are likely to be without a player for four games."
City have until 6pm on Wednesday to make their decision.
If it is decided to accept the ban, Balotelli would be suspended for Wednesday's Carling Cup semi-final second-leg at Liverpool.
However, if he appeals, though the Italian forward could play against the Reds, he runs the risk of having his suspension increased to five games.
And, as City failed to overturn a four-match suspension for Vincent Kompany earlier this month for a far less obvious incident against Manchester United, it would appear they have little chance of success anyway.
"We found out the information last night and we have not sat down as a group to discuss it," said Platt.
"But I don't think anybody thought we would win an appeal with Vincent Kompany, even though the majority of people didn't feel he deserved a red card or a four-match ban. It shows the futility of an appeal sometimes.
"This looks poor when you slow it down."