Infinium’s Phantom Console Loses Ground

Infinium Labs gaming console, the 'Phantom' was a no-show at this years E3 show, and it sounds like the company needs a $11.5 million dollar investment to stay alive.

On April 20, the company filed a report with the Securities and Exchange Commission stating that another $11.5 million is required before a launch can go ahead.

The report stated: “There is a high likelihood that sufficient capital will not be available… And the launch date will again shift and/or the company will go out of business.”

But in an interview with US website tradersnation.com last week, Infinium president Kevin Bachus stated that the Phantom will indeed launch in the US “later this year.”

He went on to say the company was confident of the machine’s money-spinning potential, identifying “three streams of revenue” – the hardware, the content and the subscription fee.

“Between those three revenue streams, we feel very confident that we’re going to be able to not only deliver value to the consumer but to our shareholders as well,” Bachus said.

It sounds like the company has once again fooled investors and made off when their money. You be the judge though.

Read more at Gamesindustry.biz