Phantom Console Put on Hold

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)."

Re:DNF

[nelsonal]

The genius who took home most of the $15 million in salaries (and probably a decent chunk of the consulting fees), but that's just my guess. Without hype, there would not have been any VC money, or secondary money to have paid those $60 million in other expenses. Welcome to the pink sheets and boiler rooms of Wall Street (probably Boca Raton or Brooklyn, actually).