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

Posted by CowboyNeal on from the borrowed-time dept.

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?"

4 of 88 comments (clear)

  1. Look at the equation by tod_miller · · Score: 4, Funny

    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.

    --
    #hostfile 0.0.0.0 primidi.com 0.0.0.0 www.primidi.com 0.0.0.0 radio.weblogs.com
  2. Explain to me... by Silverlancer · · Score: 4, Funny

    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?

  3. Infinium hires new spokesperson by SimianOverlord · · Score: 5, Funny

    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.

    --
    Meine Schwester ist sehr, sehr reizvoll - Nietzsche
  4. $Four Million? BFD by Anonymous Coward · · Score: 5, Funny

    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."