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Infinium Labs Nets $5 Million Funding Commitment

Posted by Zonk on Wed Jan 25, 2006 04:39 PM
from the you're-entering-the-vicinity-of-an-area-adjacent-to-a-location dept.
The Almighty Buck Games
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."

Related Stories

[+] Phantom Console Put on Hold 93 comments
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)."
[+] 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."
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  • A Personal Note to the Fine People at Golden Labs (Score:5, Funny)

    by Da Stylin' Rastan (771797) on Wednesday January 25 2006, @04:44PM (#14562209)
    Suckers!

    -DSR

  • So Lonely... (Score:5, Funny)

    by theRhinoceros (201323) on Wednesday January 25 2006, @04:45PM (#14562212)
    Nice keyboard. Now if there was only something to plug it into, say a gaming console...

  • WOOSH (Score:5, Funny)

    by Winckle (870180) <mwinckle@gm[ ].com ['ail' in gap]> on Wednesday January 25 2006, @04:46PM (#14562221) Homepage
    That was the sound of disapearing money.

  • Suckers! (Score:3, Insightful)

    by CharAznable (702598) on Wednesday January 25 2006, @04:46PM (#14562223)
    We're always in danger of another unsustainable bubble unless we get rid of the plague that are brainless venture capitalists. Oh well, at least it's not my money.

    • Re:Suckers! (Score:4, Insightful)

      by jbrader (697703) <jbrader@gmail.com> on Wednesday January 25 2006, @06:36PM (#14563143)
      Perhaps that's Infinium's true purpose. They'll suck all the money from brainless venture capitalists and then we'll be left with only the smart and responsible ones. Thank you, Infinium.
      [ Parent ]

  • Paydirt! (Score:5, Insightful)

    by MBraynard (653724) on Wednesday January 25 2006, @04:47PM (#14562239) Journal
    I invested in this company's stock when (and it still is) in the tank. I did this because I knew two things might happen:

    1) Someone foolish enough to try and enter the console business - a Mitsubishi or GE or Emerson or whomever - might buy them.

    2) They could at least sell that lapboard thing they developed as it actually looked pretty cool at the E3 thing.

    We will see what happens now, but it's nice to see this thing may come to fruition.

    • I invested in this company's stock when (and it still is) in the tank.

      That makes more sense, to me, then investing in Google right now.

  • $5 Million? (Score:5, Funny)

    by oahazmatt (868057) on Wednesday January 25 2006, @04:47PM (#14562244)
    They invested $5 million in a "tray table"?

    • Re:$5 Million? (Score:3, Insightful)

      by kevin.fowler (915964)
      I invested $10 in one at Ikea. Very useful to eat order out food on while in the living room. Quite stackable. And delightfully Swedish.

  • So very sad (Score:3, Insightful)

    by faloi (738831) on Wednesday January 25 2006, @04:47PM (#14562245)
    As many companies as have already been suckered into investing in Infinium Labs, and as much bad press as they've gotten, you'd think VCs would be keeping away. I thought we learned something five years ago. I mean besides VCs will fall for anything.

  • Amazing reversal. (Score:3, Funny)

    by Orrin Bloquy (898571) on Wednesday January 25 2006, @04:48PM (#14562248) Journal
    They have a platform that only exists in their imagination and they gold-farm in real life.
  • Looks like infinium's web site went south, so I can't checkout the keyboard.

    *Insert joke about it being hosted on a phantom gaming console here*

  • $5M? (Score:2)

    by taskforce (866056)
    Does it really take $5M in startup capital to produce a keyboard and mouse? Especially one which is bound to have such... "ethereal" properties?

    • Re:$5M? (Score:2)

      by sexyrexy (793497)
      No, but it takes $5M to pay for Timothy Roberts' fourth mansion while the Infinium engineers (aka a receptionist in an empty building) work through more Technical Difficulties.
  • Methinks someone is looking for a tax writeoff.

    • Re:Hmmm.... (Score:2, Funny)

      by Crimsane (815761)
      shhhhhhh!

      if you say that too loud Uwe Boll might try getting into the console business :(
  • The irony of the console's name and it's inability to ever "materialize" always gives me a chuckle. It's almost like they intended to never bring it to market, and thought... hmm, what would be a good name for a product like that..?
  • They do try but it is hard to get a PC like console out with a mere 50 million so naturally you blow it all on expenses and then are reduced to paying a few tens of thousands to some unheard of company to actually develop the hardware. Or you would pay the
  • also inclines on a 90-degree angle, with a hard surface below for the Phantom Mouse."

    90 degrees is a bit excessive. I have yet to see an image of the keyboard with the board and pad perpendicular; most places have it titled only slightly upwards. Perhaps
  • This is what happens when Netcraft doesn't confirm it in time... When are these guys going to get sent to prison and/or go bankrupt?
  • Come on, this is just ridiculous. I have a wireless keyboard and mouse from a real company, Logitech, that I comfortably use from my couch daily. If I want a little lap desk, there's a steel/plastic slidin' thing 4 sale on TV for $19.99. It even incline

  • Wow! (Score:2)

    by sc0ttyb (833038) *
    Just imagine how much more money they would have had if they hadn't sued HardOCP for telling the truth about them! Then I'm sure they could have done much more than just make a keyboard, like, oh say, release a console.
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