Well,
The predictions of analysts is turning out to be true. Those of you following
this, will recall the past postings on Infinium Labs.
It seems this really was just a ruse by a few key players to collect and live
well off of VC money for a pie in the sky idea.
"
Gamesindustry.biz are reporting that Infinium Labs need a staggering 11.5
million to continue. The launch of the console is due, as
long as they get the funding *coughyeahsure* in Quarter 2 of 2005. They hope.
Their coffers are down to a staggering $20,991, which
will last the whole of 3 days.
On top of the $11.5 million needed to actually launch the Phantom and
achieve its first 10,000 sales, Infinium also estimates
that it's going to require around $10.7 million beyond that to achieve cash
flow break even, bringing the firm's total funding needs
to $20.2 million. [...] "We have retained SG Capital to assist us in raising
capital and we are currently in negotiations with a
number of parties to raise capital," the company announced in the filing. "If
we are unsuccessful in raising capital or we do not
launch the Phantom Game Service when currently planned, we will need to curtail
our proposed spending." "
The contemptuously named "Phantom" Console.
-Gel
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