Infinium Labs Owes $4 Million, Requires $68 Million to Stay Afloat

nz17 writes "Looks like Infinium Labs, 'maker' of the Phantom game console, can't manage its debt. According to GameSpot, the company's recently filed Securities and Exchange Commission papers show that Infinium currently owes $4 million as a capital deficiency, but requires an estimated additional $68 million to continue work until the end of 2006. However, Infinium remains chipper in the face of oppression, as it estimates its first year of sales will garner $35 million in revenue. Will the Phantom console launch on the projected date of November 18th, 2004, or will the system live up to its name?"

Comments

preorder?

[Anonymous Coward]

Is it too late to preorder? I can't find any sales information so I guess it must be sold out. :P

Re:preorder?

[Ayaress]

I registered to reserve the opportunity to preorder about a year ago. They asked a lot of funny questions, though. I had to list all the games I'd bought in the last year, how much money I make, my social security number, credit report, father's maiden name, and it had a section at the bottom with a check box and a line saying, "I hereby certify that I ceremoniously killed a domestic companion animal at some time after beginning to fill out this form," and wouldn't let me continue until I checked it. I sure hope I get mine in time for Duke Nukem Forever.

Look at the equation

[tod_miller]

SCO

Have nothing of real value
Sue people
Lacking money

Infinium

Have nothing of real value
Sue people
Lacking money

Oooooh one at a time please, there are plenty of stocks to go around.

Prediction: Infinium can suck my balls.

How many game developers have voiced support?

0

I think it is a hyped up PC with gfx card and a subscription to a games download server - sounds pants to me.

Gotta link:

Timothy Roberts, CEO of infinium labs

Gotta love penny arcade.

Explain to me...

[Silverlancer]

Explain to me... why does Infinium believe that people will buy a console made by a company about to go bankrupt to play games that don't exist?

Appearantly...

[C0rinthian]

Their console isn't the only thing thats vaporware...

Infinium hires new spokesperson

[SimianOverlord]

Press Room, 09/09/04

Muhammed Saeed al-Sahaf: We have much, much money. Many games for console. Console has already appeared in shops, and we have made many millions out of it.

Muhammed Saeed al-Sahaf: Nintendo and Microsoft pigdogs are running for the cover. We will crush them like a snake, and burn their machines in the streets.

Muhammed Saeed al-Sahaf: Our console can fly, hoover and tidy your bedroom whilst making dinner for 4 and creating virtual reality world where you are the One, with boomboom magic powers.

$Four Million? BFD

[Anonymous Coward]

Infinium currently owes $4 million

This would probably be shocking to mw if I hadn't just sent my daughter off to college this weekend. To me, $4m is just "eh."

ahhh

[k4rm4_p0l7c3]

an open letter to phantom's investors

I live near these ass-hats.. I'll club their kneecaps until you get the $ back, for 5% of the total. email me, we'll figure out the details

Ob. Simpsons

[Anonymous Coward]

"Contingency? No! Money down!"

Re:$35mill?

[British]

The only thing "custom" is the case.

Any way we can buy a Phantom case shell? It would be fun to get a Mini-itx system in there, and then you can pretend you own a real Phantom console.