Stories
Slash Boxes
Comments
Search

News for nerds, stuff that matters

Slashdot Log In

Log In

Create Account  |  Retrieve Password

Phantom Console Put on Hold

Posted by Zonk on Wed Feb 22, 2006 02:31 PM
from the i-just-don't-have-the-words dept.
Entertainment Games
technoid_ writes "Looks like the Infinium Labs Phantom Game Console is put on hold until they can secure some more funding. Right now the company is focusing on getting its Phantom Lapboard to the market, and may pursue the Phantom Game service later. Interesting note, they have spent almost 4 times as much on Consultants as they have in development costs so far." From the article: "From its inception in December of 2002 through September of last year, Infinium racked up $62.7 million in losses. Of that, only $3.5 million has been lost to development costs. The company has spent more than half that in advertising, even though none of its products or services have been released yet. More of the company's money has been going toward consultants ($12.8 million), salaries ($11.9 million), and general and administrative expenses ($5.9 million)."
+ -
story

Related Stories

[+] Hardware: Infinium Phantom Lapboard Coming to PC? 176 comments
JamesO writes to tell us that Infinium Labs has announced the release of their "Phantom Lapboard" for later this year. From the article: "Infinium Labs' Phantom game service is still to launch, despite claims years ago that it would appear at Christmas 2004, but this hasn't stopped the company from continuing with the system's development. One of the most talked about aspects of the system is its wireless keyboard and mouse combo called the Lapboard. Infinium Labs has decided that the Lapboard is so good that it will be released as a peripheral for PC users in quarter-two 2006. What makes the Lapboard unique is that the keyboard can be angled upwards to create a surface for the mouse to operate on underneath. The device is also wireless and can operate at a distance of up to 30 feet."
[+] Infinium Labs in Trouble Again 35 comments
sm4kxd writes "Eurogamer is reporting that Infinium Labs is being investigated by the SEC. Apparently the SEC is particularly interested in the dealings of the company under previous CEO Tim Roberts, and are going so far as to file charges against Tim himself. The exact charges have not been revealed; Infinium believes it has to do with a 'recent SEC enquiry into phony fax scams, where penny stocks were illegally advertised to investors. The SEC also claims that Infinium did not keep accurate payroll and tax records during Roberts' reign, and owes fines and interest payments to the tune of USD 1.2 million.' It seems the more that is spoken of the Phantom, the more evidence there is that it is the most appropriately titled console in history."
[+] Infinium Labs Nets $5 Million Funding Commitment 50 comments
Next Generation is running the almost unimaginable news that Infinium Labs has a $5 Million funding commitment from Golden Labs Investors. From the article: "The funding, which comes in the form of a convertible debenture and warrant, and allows for an initial funding payment of $625,000, with an eventual exercising of up to $5M in convertible debt. will allow Infinium to start manufacturing and marketing its PC Lapboard peripheral. The PC peripheral, which is being billed by Infinium as 'the first device to allow gamers to comfortably use a mouse and keyboard from their couch', rotates for left and right-handed users and also inclines on a 90-degree angle, with a hard surface below for the Phantom Mouse."
[+] Infinium to Infiltrate Gamer Forums 91 comments
Opposable Thumbs, over at Ars Technica, points out something we have have overlooked last week when Infinium Labs opened its books. Besides dropping the Phantom in favour of getting the keyboard to market, one of their business plans calls for the company to "infiltrate best-in-class video game communities with simple, easy to understand message and seeding on tech blogs, gaming sites and on-line player forums with compelling imagery and links to lapboard eye candy." Because that's sure to net them some goodwill and customer loyalty.
[+] Phantom Lapboard Delayed 39 comments
JamesO writes "The unique keyboard and mouse combo finds a manufacturer, but slips from its Q2 release date." From the article: "Infinium Labs' Phantom game service may never see the light of day, but at least something positive will come from the project in the shape of the system's keyboard and mouse combo. What makes the Lapboard interesting is that it features a keyboard that can be angled upwards to reveal a surface on which a mouse can operate. This means the device is perfect for use on your lap (hence the name) and ideal for those who no longer sit at a desk when using their PC."
[+] Infinium Tries 'Phantom' Name Change 83 comments
simoniker writes "Former Infinium Phantom 'console' developer and current Lapboard accessory creator Infinium Labs has revealed multiple new details in financial filings, including the fact that it's changing company name to Phantom Entertainment, as long as shareholders approve. But with the SEC prosecuting former CEO Timothy Roberts, 'accumulated losses since inception of $69,331,794', and _another_ former CEO, Kevin Bachus, now suing the company for back pay, will the company ever release a product?"
[+] Hardware: Phantom Lapboard May Actually Ship 95 comments
notthatwillsmith writes "Despite never actually releasing the Phantom console, it looks like Phantom Entertainment (the company formerly known as Infinium Labs) may actually ship its sofa-friendly mouse/keyboard combo controller, the Lapboard, sometime this decade. The Lapboard is currently scheduled for a mid-June release at a price of $130, with the included laser mouse." We've been mulling over the much delayed Phantom console for years.
This discussion has been archived. No new comments can be posted.
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.

Phantom Console Put on Hold 50 Comments More /

 Full
 Abbreviated
 Hidden
More
Loading... please wait.

  • For serious? (Score:4, Insightful)

    by millennial (830897) on Wednesday February 22 2006, @02:33PM (#14778713) Journal
    Are you serious? They spent almost twice as much on "general expenses" as they spent on actual development? If that doesn't prove that the system is vaporware, nothing will.
    • Well...At least the name fits it.
    • Allow me to translate:

      "Infinium racked up $62.7 million in losses. Of that, only $3.5 million has been lost to development costs. The company has spent more than half that in advertising, even though none of its products or services have been released yet. More of the company's money has been going toward consultants ($12.8 million), salaries ($11.9 million), and general and administrative expenses ($5.9 million)."

      Translation:

      "Impending failure."
    • I worked at a .com startup that was like this. Each of the original founders was taking home more money each month that I was given to run the entire web development team. Again, we were a .com startup so our entire business was web development. So our entire budget (salaries + software + hardware) for the entire development team was less than the paycheck for one of the original founders. And by the way, only one of the "founders" was actually actively involved in the company. I remember one month the

  • From The Desk Of (Score:5, Funny)

    by American AC in Paris (230456) * on Wednesday February 22 2006, @02:34PM (#14778720) Homepage
    Dear Venture Capitalists:

    It has recently come to my attention that Infinium Labs has accumulated over sixty-two million dollars in debt.

    Clearly, there are substantial numbers amidst your ranks who are perfectly willing to part with large sums of money for no good reason whatsoever.

    I would ask these investors to send me $100,000 cash, in return for which I will do absolutely nothing. It should be obvious at this point that investing in Infinium Labs is an exercise in futility, humiliation and shame, so I think my offer looks pretty good, on balance. It's also much less expensive.

    I eagerly await your reply in the form of crisp, new $100 bills.

    Warmest Regards,
    AAiP

    • I would ask these investors to send me $100,000 cash, in return for which I will do absolutely nothing.

      It won't work. Everyone knows that Venture Capitalists would never invest in an individual. Too much "risk." You need to first register a new Corporation in the state of California known as "American AC in Paris, Inc." with the mission statement of "making money by doing nothing." The VCs will then give you massive sums of money that you can use to pay your own exhorbant salary. Once the money runs out, you simply declare bankruptcy and free yourself from any penalties. The VCs will get to sell everything your company owns, but since it doesn't own anything, they'll get nothing.

      See how VCs mitigate risk this way? :-P
        • The "funny" mod does not give karma and those who feel karma is important will use something besides "funny" when they are a moderator. The problem apparently was because a new account could hit the karma cap pretty fast only making +5 funnies. Sort of defeats the purpose of having a funny mod though, but some people care enough about karma to make the "funny" mod almost completely unused now.
    • Whatever. You've actually released a game. You have a great deal more credibility than those people.
    • For a second there I thought you were applying for a government contract. I think Haliburton uses the same approach for getting government contracts.
  • "Nothing for you to see here. Please move along."

    How appropriate! ;-)

  • Theivery is awesome! (Score:4, Insightful)

    by Yocto Yotta (840665) * <thanksillturnaro ... .com ['mai' in g> on Wednesday February 22 2006, @02:34PM (#14778722)
    34 months have elapsed for the period these financials are from.

    That equals to approximately $103,000 a month in development costs, $376,000 a month in consultation fees, $350,000 a month in salaries, and 174,000 a month in administrative fees. Overall losses are 1.84 million dollars per month, December 2002 through September 2005 . . .

    Two questions: First, How many people do they employee and contract services from? Second, if you're an investor, how does your ass feel right now?

    • Re:Theivery is awesome! (Score:4, Interesting)

      by nelsonal (549144) on Wednesday February 22 2006, @02:58PM (#14778899) Journal
      This is exactly what the HardOCP story exposed, and the $25 million payday for the insiders is why they sued to get them to hush up. Since the VCs invested after that story the expose was published, it is always nice to see fools separated from their money (hopefully they will have less foolishness or less money next time).

  • DNF (Score:5, Funny)

    by AKAImBatman (238306) <akaimbatman@ g m a i l . com> on Wednesday February 22 2006, @02:34PM (#14778726) Homepage Journal
    But... but... but...

    HOW WILL I PLAY DUKE NUKEM FOREVER?!?

    *sob*

    ---

    What I really want to know is, what genius thought it would be a good idea to hype the hell out of this thing before development even began in earnest? I mean, 3 mil for development, ~60 mil for other stuff? There's something seriously wrong here. Not to mention that for 3 mil most of us would have had something ready to go out the door.

    • Re:DNF (Score:3, Informative)

      by nelsonal (549144)
      The genius who took home most of the $15 million in salaries (and probably a decent chunk of the consulting fees), but that's just my guess. Without hype, there would not have been any VC money, or secondary money to have paid those $60 million in other expenses. Welcome to the pink sheets and boiler rooms of Wall Street (probably Boca Raton or Brooklyn, actually).
    • What I really want to know is, what genius thought it would be a good idea [...]

      Actually, one thing I'm wondering, is what console makers think about this. The people responsible for Playstation, XBox, Nintendo, who actually know more about what it takes to plan/build/test/advertise/release a console. I'm sure their thoughts on the subject would be pretty interesting.

      Also, when I saw this headline I was waiting for the story about DNF being delayed for some reason as well, heh.
    • Duke Nukem Forever has been put on hold as well.

      -
  • Wanna know how to make money in this business? Promise a product for years that you have no actual intention of building. Secure funding. Blow funding on employees (friends) as well as some stellar press releases. Hire some "consultants" (hookers) and make a prototype to show off at gaming expos (or just a picture of one, at least). Keep this up until you're sued.
  • Step 1: Find stupid people to supply venture capital for new console
    Step 2: Delay new console indefinately
    Step 3: Find more stupid people to get investment money from
    Step 4: ???
    Step 5: Say the market put too much pressure on your new console, declare bankruptcy, and high-tale it to Cuba
    (Step 6: Smoke cigars)

    On an unrelated note, can you hold something that doesn't exist (and, from the looks of it, never will)?
  • Did these guys hire the Boo.com [everything2.com] crew for their business plan?
  • In other news, researchers stunned to discover that water is indeed wet.

  • Surprised? (Score:4, Funny)

    by Joe Random (777564) on Wednesday February 22 2006, @02:43PM (#14778805)
    Is there anyone out there who is surprised by this news? I was under the impression that it was now common knowledge that Infinium Labs is a swirling vortex of waste and misery [penny-arcade.com].

  • Development costs == Salaries?? (Score:4, Interesting)

    by panaceaa (205396) on Wednesday February 22 2006, @02:47PM (#14778839) Homepage Journal
    Infinium racked up $62.7 million in losses. Of that, only $3.5 million has been lost to development costs. More of the company's money has been going toward ... salaries ($11.9 million)

    What's the difference between development costs and salaries? I could see that the salaries of HR people and accountants should not be counted as development costs, but what about the salaries of the developers? Is the $3.5 million figure just hardware / fabrication costs, or does it also include development salaries?
    • I garuntee its not for fab costs. Vapor is pretty cheap to produce, 3.5 million dollars is a lot of water, even if you buy it bottled.
    • What's the difference between development costs and salaries? I could see that the salaries of HR people and accountants should not be counted as development costs, but what about the salaries of the developers?

      Doh! Developers!
      I knew I forgot something. Might explain why those development labs and all that deveopment hardware haven't accomplished much.

      -

  • Sounds about right... (Score:4, Interesting)

    by digitac (24581) on Wednesday February 22 2006, @02:58PM (#14778895) Homepage
    At E3 a few years ago I went by their booth to see mock-ups of the Phantom Console and they were giving away t-shirts that said "I Believe". It always seemed to me to be a mocking acknowledgement of the general consensus that the product would never hit the market. Even at that E3 everyone knew the product was vaporware. It probably still has a release date between Duke Nukem Forever and Team Fortress 2, both of which are tentatively scheduled to be released shortly after the end of the universe (according to a poster I saw at Milliways). "I Believe" indeed. I believe it's the best promotion of vaporware ever. ::Digitac

  • Misleading Headline? (Score:4, Funny)

    by geoffspear (692508) on Wednesday February 22 2006, @02:59PM (#14778909) Homepage
    Was I the only one who assumed this was going to be an article about the Playstation 3?

  • I want to be an Infinium Labs consultant (Score:3, Funny)

    by TheSkepticalOptimist (898384) on Wednesday February 22 2006, @03:07PM (#14778979)
    Infinium CEO: "Mirror Mirror on the wall, who has the greatest console of all."

    Mirror: "Nintendo, deposit $10 million in my Caymen bank account please!"

    Infinium CEO: "No, Mirror Mirror on the wall, who has the GREATEST console of all!"

    Mirror: "er, Microsoft? deposit $50 million in my Bermuda account."

    Infinium CEO: "No, listen jerk! Mirror Mirror on the wall, who has the f*cking GREATEST console of all f*cking time!!!!"

    Mirror: "Yeah, thats Sony! It's going to cost you another $300 million before you figure that out asshole!"

  • Wired will have a more interesting Vapourware top ten list in 2006! Now if DNF comes out/gets canned, we'll have a great list this year because Vista will be out.

    On the other hand, no more vapourware jokes about Phantom. :(
  • While I understand this might get my nerd quals revoked, I was completely unaware that Infinium even existed until I read this [cnn.com] yesterday. Although I have to say, it seems like you're just asking for this sort of thing to happen when you name your console "Phantom."

    Which gives me an idea.. any VCs interested in my new VaporStation? It'll be HD-DVD/BluRay compatible, play all the current and next gen console titles (thanks to our special Preverse Engineering), and all parts will be user upgradeable. It wil
  • I've got it figured out now. My new corporation will be named Vaporware SA and chartered in Tahiti (got to have your annual meeting in the chartering state/country.) Our fourth gen gaming console will revolutionize the industry with its holographic projection display. We will also release a series of adventure and FPS games. Our first $50 million in capitalization will be spent as follows:
    • 40% Executive salaries and benefits
    • 20% Consulting contracts (My SO needs to have her own income)
    • 10% Advertising
  • Was there ever a point at which it was *not* on hold? I guess one of the owners wants a new boat, eh?

    They should announce that Duke Nukem Forever will be a launch title. That would make an awesome article on The Onion!

  • Obligatory comment (Score:3, Funny)

    by SpacePunk (17960) on Wednesday February 22 2006, @09:26PM (#14781642) Homepage
    I hear that Duke Nukem Forever is going to be the flagship game for the Phantom console.
  • This strikes me as being a whole lot like The Producers. Maybe Infinium realized that they could make a bundle by paying themselves big salaries, buying expensive toys, and INTENDING TO FAIL. If they ever produced a real product, they'd have to start being responsible and timely. As it is, they can just soak up venture capital money and live the good life.
    • It works great until one of your investors gets wise to you intending to fail and they sue you for fraud (that's why the producers needed to produce a bomb so no one would worry about the fact that they failed). You also better get enough that you never have to try it again for life, only the Donald's investors are stupid enough to finance his bankroll twice.
  • The people, who if I were them, would be pissed off the most about this... (aside from english teachers for that phrasing) one of the game developers who was working on a game that would have been great, but the company died for lack of funding.

    Imaging the number of student game developers who could have made retail products given a share of that much money.

    we could have had a shitload of games ported to Linux and/or Macintosh, if the funds were applied directly to something like Cedega... but instead, not

    • Re:It does not exist! (Score:5, Funny)

      by gEvil (beta) (945888) on Wednesday February 22 2006, @02:49PM (#14778846)
      That's because it doesn't EXIST! Get over it! You've been duped!

      Shows what you know! I put in a preorder at Gamestop a few years. Yeah, they have my $600, but I'm guaranteed to be one of the first people with a console when it's released...
      • but I'm guaranteed to be one of the first people with a console when it's released...

        Personally, I'm still waiting for my M2...
      • Shows what you know! I put in a preorder at Gamestop a few years. Yeah, they have my $600, but I'm guaranteed to be one of the first people with a console when it's released...

        You did order it with all the bundled goodies, right? Might be delayed a bit longer if you just picked up the base system.

    • Actually, I think Phantomware would be better. I think Phantomware fits even better than vaporware. I mean it is, after all, the definition of vaporware, and .... well, phantom sounds better than vapor. Partly because we can prove the existance of vapor, but not of a phantom heh
    • Nope, that's pretty much correct. I have no idea how they managed to blow that much money though. I guess it's probably hiding off in some offshore account while they report it as "expenses" to the IRS. The demo unit they had at E3 a couple of years ago was a PC inside of a custom built case that probably cost them less than $500 to build.

All trademarks and copyrights on this page are owned by their respective owners. Comments are owned by the Poster. The Rest © 1997-2009 Geeknet, Inc.