Phantom Console Put on Hold 93
technoid_ writes "Looks like the Infinium Labs Phantom Game Console is put on hold until they can secure some more funding. Right now the company is focusing on getting its Phantom Lapboard to the market, and may pursue the Phantom Game service later. Interesting note, they have spent almost 4 times as much on Consultants as they have in development costs so far." From the article: "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)."
shocking (Score:1)
will they raise the money by suing slashdot?
Re:shocking (Score:1)
For serious? (Score:4, Insightful)
Re:For serious? (Score:2)
Re:For serious? (Score:2)
"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)."
Translation:
"Impending failure."
Re:For serious? (Score:3, Interesting)
From The Desk Of (Score:5, Funny)
It has recently come to my attention that Infinium Labs has accumulated over sixty-two million dollars in debt.
Clearly, there are substantial numbers amidst your ranks who are perfectly willing to part with large sums of money for no good reason whatsoever.
I would ask these investors to send me $100,000 cash, in return for which I will do absolutely nothing. It should be obvious at this point that investing in Infinium Labs is an exercise in futility, humiliation and shame, so I think my offer looks pretty good, on balance. It's also much less expensive.
I eagerly await your reply in the form of crisp, new $100 bills.
Warmest Regards,
AAiP
Re:From The Desk Of (Score:5, Funny)
It won't work. Everyone knows that Venture Capitalists would never invest in an individual. Too much "risk." You need to first register a new Corporation in the state of California known as "American AC in Paris, Inc." with the mission statement of "making money by doing nothing." The VCs will then give you massive sums of money that you can use to pay your own exhorbant salary. Once the money runs out, you simply declare bankruptcy and free yourself from any penalties. The VCs will get to sell everything your company owns, but since it doesn't own anything, they'll get nothing.
See how VCs mitigate risk this way?
I don't know what's more funny. (Score:1)
Both seemed pretty funny to me.
Re:I don't know what's more funny. (Score:2, Funny)
Re:I don't know what's more funny. (Score:2, Funny)
Re:From The Desk Of (Score:2)
Re:From The Desk Of (Score:2)
Phantom indeed! (Score:2, Insightful)
How appropriate!
Re:Phantom indeed! (Score:1)
They should write a diet book.
Theivery is awesome! (Score:4, Insightful)
That equals to approximately $103,000 a month in development costs, $376,000 a month in consultation fees, $350,000 a month in salaries, and 174,000 a month in administrative fees. Overall losses are 1.84 million dollars per month, December 2002 through September 2005 . .
Two questions: First, How many people do they employee and contract services from? Second, if you're an investor, how does your ass feel right now?
Re:Theivery is awesome! (Score:4, Interesting)
DNF (Score:5, Funny)
HOW WILL I PLAY DUKE NUKEM FOREVER?!?
*sob*
---
What I really want to know is, what genius thought it would be a good idea to hype the hell out of this thing before development even began in earnest? I mean, 3 mil for development, ~60 mil for other stuff? There's something seriously wrong here. Not to mention that for 3 mil most of us would have had something ready to go out the door.
Re:DNF (Score:3, Informative)
Re:DNF (Score:2)
Actually, one thing I'm wondering, is what console makers think about this. The people responsible for Playstation, XBox, Nintendo, who actually know more about what it takes to plan/build/test/advertise/release a console. I'm sure their thoughts on the subject would be pretty interesting.
Also, when I saw this headline I was waiting for the story about DNF being delayed for some reason as well, heh.
Re:DNF (Score:1)
Re:DNF (Score:2)
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I'm reminded of "The Producers"... (Score:5, Funny)
Re:I'm reminded of "The Producers"... (Score:4, Funny)
Remember (Score:1)
In fine /. tradition, joke laboriously explained.. (Score:1)
Please respond with inevitable "in Soviet Russia, hookers consult you", "in South Korea, only old people consort with hookers", etc.
Re:I'm reminded of "The Producers"... (Score:2)
Re:I'm reminded of "The Producers"... (Score:1)
The American Dream (Score:2)
Step 2: Delay new console indefinately
Step 3: Find more stupid people to get investment money from
Step 4: ???
Step 5: Say the market put too much pressure on your new console, declare bankruptcy, and high-tale it to Cuba
(Step 6: Smoke cigars)
On an unrelated note, can you hold something that doesn't exist (and, from the looks of it, never will)?
Consultants? (Score:2)
Re:Consultants? (Score:2)
Next you'll be telling me that I can pay for stuff there with Flooz.
Re:Consultants? (Score:2)
Re:Consultants? (Score:2)
Re:Consultants? (Score:2)
I'm sorry, "she's trying to drink my blood!" was the correct answer. "She's trying to drink my blood."
In other news... (Score:2)
It does not exist! (Score:1)
Re:It does not exist! (Score:5, Funny)
Shows what you know! I put in a preorder at Gamestop a few years. Yeah, they have my $600, but I'm guaranteed to be one of the first people with a console when it's released...
Re:It does not exist! (Score:2)
Personally, I'm still waiting for my M2...
Re:It does not exist! (Score:2)
Re:It does not exist! (Score:2)
You did order it with all the bundled goodies, right? Might be delayed a bit longer if you just picked up the base system.
Re:It does not exist! (Score:1)
You'll be duped tomorrow...or later tonight, whenever another editor comes on shift.
Surprised? (Score:4, Funny)
you've got the cart before the horse (Score:2, Funny)
Development costs == Salaries?? (Score:4, Interesting)
What's the difference between development costs and salaries? I could see that the salaries of HR people and accountants should not be counted as development costs, but what about the salaries of the developers? Is the $3.5 million figure just hardware / fabrication costs, or does it also include development salaries?
Re:Development costs == Salaries?? (Score:2)
Re:Development costs == Salaries?? (Score:2)
Doh! Developers!
I knew I forgot something. Might explain why those development labs and all that deveopment hardware haven't accomplished much.
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slow news day (Score:1)
Sorry, but how is this news?
And how does it matter?
Re:slow news day (Score:1)
This thing will never see the light of day b/c the building are to sad. They read how much they suck on slashdot and go out, by the cheap dope, and sleep for a week.
We need to give these guys a brake!
i dont see you building a next-gen gaming system
Re:slow news day (Score:2)
Sounds about right... (Score:4, Interesting)
Re:Sounds about right... (Score:1)
Re:Sounds about right... (Score:1)
Misleading Headline? (Score:4, Funny)
I get it now. (Score:1)
Re:I get it now. (Score:1)
Oh! Oh that was CLEVER! What you did there was you used the NAME of the console to humourously DESCRIBE the console! Yes yes. Very Clever. I've never heard that one before! It was very witty and clever.
</Stewie Sarcasm>
Maybe because it wasn't funny? *nt* (Score:2)
crystal ball (Score:1)
I want to be an Infinium Labs consultant (Score:3, Funny)
Mirror: "Nintendo, deposit $10 million in my Caymen bank account please!"
Infinium CEO: "No, Mirror Mirror on the wall, who has the GREATEST console of all!"
Mirror: "er, Microsoft? deposit $50 million in my Bermuda account."
Infinium CEO: "No, listen jerk! Mirror Mirror on the wall, who has the f*cking GREATEST console of all f*cking time!!!!"
Mirror: "Yeah, thats Sony! It's going to cost you another $300 million before you figure that out asshole!"
Good news for Wired! (Score:2)
On the other hand, no more vapourware jokes about Phantom.
In lieu of the name of the console... (Score:1)
Re:In lieu of the name of the console... (Score:3, Funny)
Parallels to Amiga Computer? (Score:1)
The story of this sounds similar to the Amiga. (Sadly?)
Group of people get together to create the world's greatest gamng system. Company finds itself short of cash. Company releases "board" peripheral to make cash. (Amiga Corp produced the Joyboard. Infinium is producing the Lapboard.)
Of course, at this point, the Amiga went on to become the best computer ever made, only to be run to extinction by Commodore.
Re:Parallels to Amiga Computer? (Score:1)
Re:Parallels to Amiga Computer? (Score:1)
I thought the whole "Phantom Console" was a scam.. (Score:1)
I could be wrong. But it doesn't sound like it.
Re:I thought the whole "Phantom Console" was a sca (Score:3, Interesting)
Who is funding this? (Score:1)
Open source? (Score:1)
And more interesting: will SCO sue them for using their IP when they analyse the content?
Advertising??? (Score:1)
Re:Advertising??? (Score:1)
There you go his advertising dollar at work.
Call me a crazy man but do you really think that all this publicity he has generated about this console is just because he's been making wild claims about how good it is with no product anywere in the pipeline, of course not he's been paying people to drum up all these articles about how it's vapourware so that when they release it it will create an even bigger media storm with claims that most of the internet community said it would never
Re:Advertising??? (Score:1)
4M shares of Infinium stock, anyone? (Score:2)
Which gives me an idea.. any VCs interested in my new VaporStation? It'll be HD-DVD/BluRay compatible, play all the current and next gen console titles (thanks to our special Preverse Engineering), and all parts will be user upgradeable. It wil
My New Business Plan (Score:2)
AHAHAHAHAHA! (Score:2)
They should announce that Duke Nukem Forever will be a launch title. That would make an awesome article on The Onion!
Obligatory comment (Score:3, Funny)
Mel Brooks does hardware? (Score:2, Insightful)
Re:Mel Brooks does hardware? (Score:2)
Who should be pissed. (Score:2)
Imaging the number of student game developers who could have made retail products given a share of that much money.
we could have had a shitload of games ported to Linux and/or Macintosh, if the funds were applied directly to something like Cedega... but instead, not
No wait, they can't do that. (Score:1)