Neowin.net - Infinium Labs Is Running Out Of ... Cash

Infinium Labs Is Running Out Of ... Cash

Posted by malebolgia on 09 September 2004 - 15:52 · 33 comments & 1721 views

Infinium Labs and its Phantom Gaming System and Service have been the center of controversy on numerous occasions, whether it be for various lawsuits (suing [H]ardOCP, getting sued by DiStream, and its own former Executive Vice President), or just the mere fact that nobody really believes the Phantom will make it out of the gate by the official launch date of November 18, 2004. For people unfamiliar with "The Phantom" concept, let me try to explain in a nutshell.

The Phantom is technically a PC reduced to "console" size with a large library of PC titles as playable products, which will be offered on-demand through the Phantom Gaming Service by means of a high-speed internet connection. Basically, this means you will be able to download and play any game out of their existing library, old or new, any time of the day, without having to leave the comfort of your home.

Infinium Labs' latest Securities and Exchange Commission filing, dated August 23rd, reveals that all is not well on the financial side of things. After wading through all of the numbers, the bottom line is that, as of August 20, 2004, Infinium Labs has $134,226 cash on hand and outstanding bills for $3,962,226.

News source: GameSpy

woops :D

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#1 Posted by spaceman255 on 09 Sep 2004 - 15:54: ouch

#2 Posted by Colicab on 09 Sep 2004 - 15:55: Figures

#3 Posted by Zepolcire on 09 Sep 2004 - 15:55: Ha Ha!

#4 Posted by L3onheart on 09 Sep 2004 - 15:56: What a surprise

#5 Posted by LPC on 09 Sep 2004 - 15:57: Sprinkle it with magic dust ... that's all it needs to make a console .

#6 Posted by Oneill on 09 Sep 2004 - 15:59: Cant say im surprised. Crap concept for a console.

#7 Posted by dhitb on 09 Sep 2004 - 15:59: Anyone else think they're going to go Sco on other console makers?

#8 Posted by matt74441 on 09 Sep 2004 - 16:00: Oh well, **** happens.

#9 Posted by fubarshibby on 09 Sep 2004 - 16:09: There's a well-managed company for you... << sarcasm

#10 Posted by Lingwo on 09 Sep 2004 - 16:15: Oh well it was a suprise considering the owner has failed many times before.
I still wanted to play Carmen Sandiego on it

#11 Posted by Jdawg683 on 09 Sep 2004 - 16:27: i dont think it'll be a hit when it comes out anyway... probably going to be riddled w/ bugs and problems... then someone's going to hack it and get free games and then they lose all their money and go into more debt.

(1 reply) #12 Posted by Ash on 09 Sep 2004 - 16:56: well from a guy (the owner of the company) who is notorious for having a lot of companies go under and with a history (from what I read) of fraud like buisness practices, added to the fact the things is called Phantom... can anybody be surprised if it never sees the light of day? Really?

#13 Posted by Toxicfume on 09 Sep 2004 - 16:59: Another to the record of his failed companies?

(1 reply) #14 Posted by ThePDW on 09 Sep 2004 - 17:31: Whoever thought of this "console" has no reality on the PC gaming market

(1 reply) #15 Posted by Billprozac on 09 Sep 2004 - 17:58: Ok, all joking aside, the only real problem with the concept is the on-demand game issue, which could be done. I personally am putting together a console-like PC so I can play games like UT2004 and Doom 3 on my 48" TV without having a full PC. You can buy a shuttly box running an Athlon 64 3000, throw 1gb of RAM and a sweet graphics card and have a kicking system that would rock the hell out of some gaming. I think the concept needed to be researched and developed a lot more befor sinking too much into it, but this would be THE console (esp. if you had some sweet emu's on it to play nes/snes/n64/PS/genesis/etc.)

#16 Posted by Fredde87 on 09 Sep 2004 - 18:44: It has been a long time since last I heard of Infinium Labs, I was hoping they would just fade away :s

#17 Posted by devinlamothe on 09 Sep 2004 - 18:58: lol who didn't see this coming?

#18 Posted by dougkinzinger on 09 Sep 2004 - 19:07: Such losers. I believe the lot of us here on Neowin said they would die before any "product" ever hit the market.

Die, Infinium, Die.

#19 Posted by Caleb on 09 Sep 2004 - 19:10: What could be a better time to announce bankrupcy?

#20 Posted by Solarix on 09 Sep 2004 - 19:11: if they wernt being sued left n right they wouldnt have such a big money issue

#21 Posted by Zelpus on 09 Sep 2004 - 19:16: makes me glad I didn't take a job with them

#22 Posted by fishie on 09 Sep 2004 - 19:45: ask "twcbinc" on aim he will tell you all about it i guess there goes my chances for the beta.

(1 reply) #23 Posted by b0b on 09 Sep 2004 - 19:59: Teh money got lost because MS sued them for not using Windows in thier console.

(1 reply) #24 Posted by [X]-bYtE on 09 Sep 2004 - 20:15: to #23

Didn't it use Windows XP as OS? That's what I've heard..

#25 Posted by L3onheart on 09 Sep 2004 - 21:29: It uses Windows Embbebbed or whatever it is spelled

#26 Posted by demorgoron on 09 Sep 2004 - 22:32: that console will never work out,we all like to go the the EB or gamestop to browse for out games,there no way i will download a full game(whats that?5-10 gigs or more)you would need an extremely fast connection to download a game and i dont thinks its disk space was gonna be big enough for all the games

#27 Posted by Devlin on 09 Sep 2004 - 22:50: Problem # 1 it was as far as I could tell origianlly being billed as a console system
playing console games that you could just download off the net and bang there it is on your system, no load time after you start playing, and you could play a demo of something before buying it and getting jacked for $50 for a crappy game. Great Idea sell the online service like XBOX to play live and sell the games hopefully cheaper than the stores sence there is no packaging, no sales people, no lights , no heat ect ect ect. just a huge server and a few IT dudes to watch it. Then all of a sudden it's a PC in a console shell and your gonna try to sell this? I mean comon the system will be outdated in less than a year and in 2 years the video card will be out down 10 times over, and you actually see any longevity in the hardware? NO NO NO

Anyone can build a superfast Gaming only PC on a budget and it will last longer and work better.

By infinium
Great Concept that never was

#28 Posted by angrybrit on 09 Sep 2004 - 23:54

QUOTE

For people unfamiliar with "The Phantom" concept, let me try to explain in a nutshell.

The Phantom is technically a PC reduced to "console" size with a large library of PC titles as playable products...

Now let me explain to you what the XBox is...

[1]

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