in the 'who really cares?' dept.:
Prospectus details how would-be PC-game-console-maker lost $62.7 million in three years--and is putting the Phantom on hold.
Infinium Labs is focused on getting its Phantom Lapboard to market, but the cash-strapped company is in need of additional financing.
Last month, the company announced an arrangement for $5 million in funding from Golden Gate Investors. As part of that agreement, Infinium has filed a prospectus with the Securities and Exchange Commission detailing the company's unprofitable past and laying out its game plan for the future.
From its inception in December of 2002 through September of last year, Infinium racked up $62.7 million in losses. Of that, only $3.5 million has been lost to development costs. The company has spent more than half that in advertising, even though none of its products or services have been released yet. More of the company's money has been going toward consultants ($12.8 million), salaries ($11.9 million), and general and administrative expenses ($5.9 million).
As for how the company plans to reverse its fortunes, the prospectus indicates that, for now, the company is backing off of its Phantom Game Service and focusing on getting its Phantom Lapboard peripheral to market.
i wonder if they gonna have Duke Nukem as a launch title..LOLz
http://www.gamespot.com/news/6144631.html
