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Infinium Labs in Trouble Again
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."
I was looking for any recent updates on this extraordinary device, but can't find anything. Last I heard they had a tiny booth at E3 or something. Shouldn't they be launching soon?
... Gizmondo could buy them out? At the very least they appear to have some sort f product..
Just you wait until I introduce my console...Vapor!
That's pretty clever of you. Even if you don't get it to market, there's already a whole ton of software designed for it...
Be a real patriot: Question authority. Think for yourself. Formulate your own conclusions.
Their launch title is going to be Duke Nukem Forever, that's why we haven't seen any hardware yet.
"The strong will do what they want, the weak will do what they must."
-Thucydides
I remember seeing an article a week or so ago about mob ties for the Gizmodo people. I can't seem to find anything about Tim Roberts and the mob. Do you have a link?
Be a real patriot: Question authority. Think for yourself. Formulate your own conclusions.
ok, i'll admit it: i bought an atari lynx and a jaguar when they came out. i root for the underdog, almost to the point of throwing away money on inferior stuff. (i still play the lynx sometimes... i know, i know...) i am always looking for that hidden gem of a game or some advanced feature the other guys hadn't thought about just to expand my horizons. however, those early hard-ocp articles http://www.hardocp.com/article.html?art=NTEy/ really drove home the point that i and the rest of the gaming world should stay very far away from this company and their product. this is just more icing on the cake. add to that they probably won't ship the phantom until after the PS3 and revolution come out, and there is no reason to even consider their console. at least their trainwreck story will live on long after the hardware/gaming service is forgotten.
SEC doesn't know what it was or Infinium Labs? That's kind of scary if it's SEC.
It's Infinium Labs. That quote is attributed to Kevin Bachus, their CEO.
Registering accounts later than some other chrisb since 1997
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." /. knew that this product was bogus.
I'm sorry, maybe I missed something but I was under the impression that every single person on
Is there anyone on this forum that honestly believed it would come out?
"Well kids, you tried your best, and you failed. The lesson is, never try." -Homer Simpson
For anyone not familiar with the Phantom console design, it is (or was?) to be pretty much a standard PC with a network card in a console box locked down with a Trusted Computing chip. The Trusted Computing chip is a boobytrapped self destructing crypto chip to hold the keys and secure the system against the owner. (If the chip detects you trying to get at your keys then it wipes itself.)
Then they get to rent you game downloads over the internet. If you don't pay the monthly / daily / or even per-minute charges then your console securely deletes/deactivates the game. The entire business scheme is founded on the notion of denying people control over their own property.
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- - You can't take something off the Internet! That's like trying to take pee out of a swimming pool.