Infinium Tries 'Phantom' Name Change 83
simoniker writes "Former Infinium Phantom 'console' developer and current Lapboard accessory creator Infinium Labs has revealed multiple new details in financial filings, including the fact that it's changing company name to Phantom Entertainment, as long as shareholders approve. But with the SEC prosecuting former CEO Timothy Roberts, 'accumulated losses since inception of $69,331,794', and _another_ former CEO, Kevin Bachus, now suing the company for back pay, will the company ever release a product?"
Will the company ever release a product? (Score:5, Funny)
Next question?
Re:Will the company ever release a product? (Score:5, Funny)
Re:Will the company ever release a product? (Score:4, Funny)
Re:Will the company ever release a product? (Score:3, Funny)
Re:Will the company ever release a product? (Score:1)
Re:Will the company ever release a product? (Score:2, Funny)
Re:Will the company ever release a product? (Score:5, Funny)
Can I play it while ascending a space elevator powered by cold fusion, or will it cause the elevator's quantum computer to crash?
Re:Will the company ever release a product? (Score:4, Funny)
Re:Will the company ever release a product? (Score:5, Funny)
Next question?
Untrue sir. I have one. I've been playing Duke Nukem Forever on it (and with my HURD kernel nontheless) all afternoon!
Re:Will the company ever release a product? (Score:3, Funny)
No, no, that's entirely too outlandish.
Re:Will the company ever release a product? (Score:2)
And the l33t shall inherit the 34r7h
And teh jox shall inherit teh wind. Duuude, aww-summm!!!
WTF? Who are the suckers? (Score:5, Interesting)
A separate SEC filing released on May 22nd has updated those interested on Infinium's parlous state of accounts: "Our loss from operations for the quarter ended March 31, 2006 was $2,752,327. Our loss from operations for the year ended December 31, 2005 was $29,814,606. At March 31, 2006, we had a working capital deficit of $11,523,869 and accumulated losses since inception of $69,331,794. In their report on our audited financial statements for the year ended December 31, 2005, our independent auditors expressed substantial doubt about our ability to continue as a going concern."
Re:WTF? Who are the suckers? (Score:1)
But as for the later investors, you guys are total suckers.
Re:WTF? Who are the suckers? (Score:5, Funny)
-- n
Re:WTF? Who are the suckers? (Score:1)
Re:WTF? Who are the suckers? (Score:5, Informative)
Assuming a 50% marketing, promotion, and etc cost, that leaves 8.75 million for staff and development. Assuming a generous 100,000 per year compensation package and 100,000 in per-employee support costs (office space, etc), that's a full-time staff of 44 developers.
44 developers, working full time, for 4 years. With a full marketing budget for a product that doesn't exist. Assume a 50/50 split between hardware and software, that's 22 people making the console and 22 people programming the interface, including artists.
70 million really should have been enough. Can you say "scam?"
Re:WTF? Who are the suckers? (Score:1)
Source:
http://www.gamespot.com/news/6144631.html
Re:WTF? Who are the suckers? (Score:2)
Given a month, some parts, and a soldering iron, *I* can design a 'next gen' console. These guys have scammed nearly $70 billion and, aside from their CEO, I'd be completely nonplussed to find out they have dodged out to the caymans somewhere, where they 'telecommute' by responding to emails from venture capitalists.
Re:WTF? Who are the suckers? (Score:5, Informative)
Wow. (Score:5, Informative)
The worst part is the console. I remember a couple of years ago when the phantom was relatively new they showed off the console and some PC ports and the thing seemed at least somewhat real. At this point, they seem to have less of a console than ever. Even if they released the console they originally promised, it would be underpowered. Here are the specs:
CPU: AMD Athlon XP 2500+
Video card: nVIDIA GeForce FX 5700 Ultra, with 128MB RAM
RAM: 256MB
Hard drive: 80GB "content cache"
The HDD is good and the RAM is comparable to the 360. The graphics card is very outdated (the Wii is probably more advanced), and the CPU at 1.8 GHz doesn't quite compare with triple 3.2 GHz cores of a 360.
And they'd probably have to charge PS3 type prices just to try to stay afloat, and I think we all know how well they'd do with those prices.
Amazing that some investors are just this stupid. At this point, how could they EVER make that money back? Even if they sold that keyboard for $200 and it was pure profit, they'd have to sell 350,000 of 'em and they'll never do that (especially at that price).
It's like watching Duke Nukem Forever's development, only more absurd.
Re:Wow. (Score:1)
and the Phantom was supposed to be a Media Center PC that could play PC games.
I think they realized and just forgot to mention that it would be impossable to do. The system would be out of date within 2 years and they would have to constently re-write firmware to fit with the new cards, ram ect.
then of course you have the OS for the system, if it's supposed to run PC games they would have to use Windows for full compatability right? cause not to ma
and...one word... (Score:2)
"Ohh look! It can download games over the internet!"
Uh... just like any other desktop.
Re:and...one word... (Score:1)
GameTap.
"Ohh look! It can download games over the internet!"
Uh... just like any other desktop.
I think you don't really understand what the real point behind GameTap is, then... it's not about the internet delivery, it's about the legitimization of emulation. We can now legally play a lot of the games we loved when we were kids, and also some relatively recent games as well. I think it's more than worth the $1/year I paid for it.
Haven't decided what I'll do after my beta tester almost free year is up.
Read more carefully... (Score:2)
Re:Wow. (Score:2, Insightful)
And demonstrated that they had invested nearly several hundred of those $70 million on something other than coke and hookers.
You're still talking like the console was ever supposed to be a real product. The object you bring up that was displayed is something called "bait." Myself I prefer to dry fly fish for trout on the surface rather than bait fish for sucker
Re:Wow. (Score:2)
Shouldn't that be 'Coke and dogs [66.249.93.104]' ?
Re:Wow. (Score:1)
>>
>Shouldn't that be 'Coke and dogs' ?
Beauty is in the eye of the beholder.
KFG
Calling it 'phantom' is too subtle (Score:5, Funny)
Re:Calling it 'phantom' is too subtle (Score:2, Insightful)
Seems pretty straightforward: Phantom growth strategy.
Re:Calling it 'phantom' is too subtle (Score:2)
Re:Calling it 'phantom' is too subtle (Score:1)
Infinitum? (Score:4, Funny)
Nice Try Infinium... (Score:1)
Re:Nice Try Infinium... (Score:2)
Nah. They'll just declare bankruptcy and be done with it. The scammers involved can easily find ways to insulate themselves from any repercussions.
Paraphrasing the Bard... (Score:4, Funny)
By any other word would smell as fishy."
Re:Paraphrasing the Bard... (Score:3, Funny)
But with strange aeons even the Phantom may die."
Crashed Enzo (Score:1)
Re:Crashed Enzo (Score:2)
Wether or not the company was well fitted to bring it to the market in full force is up for debate, but unlike the Phantom the Gizmondo actually existed and units actually were manufactured and shipped.
It never would have been able to tackle the PSP as a media device, anyway. Not because it wasn't neat, but because they wouldn't have been able to out-market Sony.
As a game machine, Nintendo wouldn't have come off of
Phantom Entertainment (Score:5, Funny)
March 2006: Scott Miller, CEO of 3D Realms, announced [computeran...ogames.com] that the company intends on developing a sequel to Duke Nukem Forever.
Re:Phantom Entertainment (Score:4, Insightful)
Either way, in comparison, NASA, an often misdirected of an agency, was able to make Deep Space One from project concept approval to launch pad in three years. Deep Space One, a project that tested twelve previously untested technologies in space and every one of those technologies succeeded.
Re:Phantom Entertainment (Score:1)
Just you wait until they work up to Deep Space Nine
Re:Phantom Entertainment (Score:2)
Deep Space One cost $150 million dollars. In return, we got technological res
CNB3 (Score:2)
Related Stories (Score:1)
Quote (Score:5, Funny)
I'll say.
Re:Quote (Score:2)
It must be the Canadians. They've wanted both sides of Niagra Falls for years.
Re:Vaporware... (Score:5, Funny)
no, this is Phantomware
A new phrase coined. (Score:1)
Question (Score:1)
Whoa (Score:3, Informative)
Re:Whoa (Score:2)
What are you talking about? That lapboard was worth every penny it cost to develop it!
Re: (Score:2, Funny)
I know its been offered before but... (Score:1, Funny)
I would like to offer you the opportunity of a lifetime. In exchange for a mere $50,000 a year, I will produce NOTHING. Compared to Infinium/Phantom, this will provide a savings to you of nearly 35,000% ANNUALLY with IDENTICAL results, INSTANTLY! This is an offer you CAN NOT refuse. Please let me know when you are ready to sign the dotted line,
Sure Thing Inc.
Bedazzled (Score:2)
Phantom is in fact more popular as a vaporware brand, why would they want to call their company that?
It's as if they try to rub it on: "we've wasted millions of dollars and still got just phantoms to offer"...
None of this makes any sense, is the business system so flawed?
SEC is also after them. (Score:2, Interesting)
http://www.heraldtribune.com/apps/pbcs.dll/articl
They have shareholders? (Score:1)
Tim Roberts (Score:5, Interesting)
Do some searching on Tim and you'll find that he's started a whole host of companies where investers were coralled and then the money was spent in lavish style. See DBN and Savvis Communications. These companies were sold off early on, and after Tim bowed out, one did rather well. Savvis continues to this day. But as far as I can tell, Tim only excels in bullshitting investors into opening their wallets, then spending and spending and bullshitting some more.
Do some more searching and you'll find whole web pages devoted to exposing either Tim or his Phantom console as a hoax, scam, pump n' dump scheme etc. Some of them are really entertaining to read through.
(I knew Tim when he was teenage phone phreak trafficing in Commodore 64 games over a 300 baud... then the screaming fast 1200 baud Hayes modem. Anyone C64 people remember the "Wacko Cracko Brothers"? Hehe. Name that year.)
HardOCP called it 3 years ago! (Score:1)
I do feel bad for the investors. However I can't understand how they didn't see the warning signs.
Actually Duke Nukem Forever could be released 1st (Score:2)
at least apparently:
From wikipedia:
2006
* February: In an interview Broussard had this to say about Duke Nukem Forever[15]:
Duke Nukem Forever
It's definitely going well now. Things are together; we're in full production. We're basically just pulling all the pieces together and making the game out of it. There's a lot that's finished. All the gun
Re:Actually Duke Nukem Forever could be released 1 (Score:2)
At this point, they could just change the title splash of Daikatana and release it, and we'll all be surprised enough by the release alone to soil our shorts.
Reminds me of Robin Hood:Men in Tights (Score:2)
Latrine: We changed it in the 9th century.
Prince John: You mean you changed it TO "Latrine"?
Latrine: Yeah. Used to be "Shithouse."
Prince John: It's a good change. That's a good change
Re:Reminds me of Robin Hood:Men in Tights (Score:1)
And that was the second time they changed it. Originally it was simply "Shit" . But, as somebody said, "What's in a name ?", in this case the answer's obvious ! Same fellow (William somebody, I think) said "A rose by any other name would smell as sweet" and, applied to this case, we can see that he sure got that right !
The Accumulated Losses Aren't The Best Part... (Score:1)