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Phantom Console Put on Hold
Posted by
Zonk
on Wed Feb 22, 2006 03:31 PM
from the i-just-don't-have-the-words dept.
from the i-just-don't-have-the-words dept.
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)."
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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."
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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."
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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.
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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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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?"
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For serious? (Score:4, Insightful)
Re:For serious? (Score:2)
Re:For serious? (Score:3, Interesting)
From The Desk Of (Score:5, Funny)
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
Re:From The Desk Of (Score:5, Funny)
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?
Parent
Re:From The Desk Of (Score:2)
Phantom indeed! (Score:2, Insightful)
How appropriate!
Theivery is awesome! (Score:4, Insightful)
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)
Parent
DNF (Score:5, Funny)
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)
I'm reminded of "The Producers"... (Score:5, Funny)
Re:I'm reminded of "The Producers"... (Score:4, Funny)
Parent
The American Dream (Score:2)
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 bankr
Consultants? (Score:2)
In other news... (Score:2)
Surprised? (Score:4, Funny)
Development costs == Salaries?? (Score:4, Interesting)
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?
Sounds about right... (Score:4, Interesting)
Misleading Headline? (Score:4, Funny)
I want to be an Infinium Labs consultant (Score:3, Funny)
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!"
Obligatory comment (Score:3, Funny)
Re:It does not exist! (Score:5, Funny)
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...
Parent
Re:In lieu of the name of the console... (Score:3, Funny)
Re:I thought the whole "Phantom Console" was a sca (Score:3, Interesting)