Infinium Labs, which has yet to conclusively prove that they're ever going to really ship their PC-based Phantom video game console that they've been working on for a few years now (they already missed their November 18th launch date), has admitted in a Securities and Exchange Commission filing that the source of the problem is that they need to find another $11.5 million in funding to get things rolling. Right now they're hoping to launch the Phantom Game Service and Phantom Game Receiver in Q2 of next year, but without a cash infusion this might prove especially troublesome, since at the time of the filing they only had $20,991 in the bank. And no, we didn't leave some zeroes off the end there.
Infinium Labs says it needs $11.5 million to launch the Phantom
by Peter Rojas 
on Nov 26th 2004 1:10PM
14
Infinium Labs, which has yet to conclusively prove that they're ever going to really ship their PC-based Phantom video game console that they've been working on for a few years now (they already missed their November 18th launch date), has admitted in a Securities and Exchange Commission filing that the source of the problem is that they need to find another $11.5 million in funding to get things rolling. Right now they're hoping to launch the Phantom Game Service and Phantom Game Receiver in Q2 of next year, but without a cash infusion this might prove especially troublesome, since at the time of the filing they only had $20,991 in the bank. And no, we didn't leave some zeroes off the end there.
Reader Comments (14)
Posted: Dec 18th 2005 9:51PM (Unverified) said
Can anybody guess on a price?
Posted: Dec 18th 2005 9:51PM (Unverified) said
Yeah, $11,479,009... in advance...
Posted: Dec 18th 2005 9:51PM (Unverified) said
I dont have that much.. :( ( I just read thats it going to be $200)
Posted: Dec 18th 2005 9:51PM (Unverified) said
Am I the only one who finds the name for this new console rather ironic?
Posted: Dec 18th 2005 9:51PM (Unverified) said
They need $11M for the first 10,000 units. Or in other words, for every $200 box that they sell, they need $1,100 in investment. What a fantastic business model!
(And how much have they ALREADY spent?)
(And how much have they ALREADY spent?)
Posted: Dec 18th 2005 9:51PM (Unverified) said
LOL, I wonder where Infinium will find investors dumb enough to invest in this hopeless game system. The only reason that I can think of for this project is that a large part of that 22 million investment that they are hoping for will be their actual sallary.
Posted: Dec 18th 2005 9:51PM (Unverified) said
Here's an interesting investigation into Infinium. Looks to me like a scam, although more elaborate than most.
Posted: Dec 18th 2005 9:51PM (Unverified) said
Link:
http://www.hardocp.com/article.html?art=NTEyLDE=
http://www.hardocp.com/article.html?art=NTEyLDE=
Posted: Dec 18th 2005 9:51PM (Unverified) said
The console's name may prove rather fitting.
Posted: Dec 18th 2005 9:51PM (Unverified) said
You guys know that a year ago the company listed a fake office address and the founder didnt have employees or anything?
Posted: Dec 18th 2005 9:51PM (Unverified) said
Interesting reading at the hardcop site. But there is more (Infinium Labs Vs. HardOCP - Round 2) http://www.hardocp.com/article.html?art=NTk4
Posted: Dec 18th 2005 9:51PM (Unverified) said
whos gonna buy this???
yeah the name is ironic lol
its the "phantom phantom"
buy a nintendo ds instead!
yeah the name is ironic lol
its the "phantom phantom"
buy a nintendo ds instead!
Posted: Dec 18th 2005 9:51PM (Unverified) said
Just getting this straight; $24,979,009 buys the results of some ones 3D industrial design degree and a Mail Boxes Etc. PO box at Longboat Key, Florida, and then this bunch of xxxxx wants an extra $11,500,000 to produce 10,000 consoles at a loss of $900 per console.
Posted: Dec 18th 2005 9:51PM (Unverified) said
This is in response to the fourth post by Captain James Skull. Actually the name Phantom would imply that the system would be hard to find, or really late in launch. This makes it conincidental, not ironic. Irony is when something happens contrary to logic or expectations. Since people expect phantoms to be hiding or scarce, the name of the system and its current situation is in no way ironic. Its a coincidence.
