Infinium Labs Is Running Out Of ... Cash

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

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