I couldn’t make it to E3 this year. Apparently I’m not the only one.
LOS ANGELES (CNN/Money) – Last year’s E3 was the Phantom’s coming out party.
Infinium Labs, the company behind the on-demand video game service, spent millions of dollars for an elaborate booth meant to quiet growing speculation at the time that the service — and the system that powered it — were non-existent.
…
In a recent filing with the Securities and Exchange Commission, Infinium Labs said there’s a good chance it won’t raise enough money to launch its key product in time, putting its existence at risk.
“The company believes, based on past performance, that there is a high likelihood that sufficient capital will not be available … and many or all of these milestones will be missed and the launch date will again shift and/or the company will go out of business,” it said in the April 20 filing with the SEC.
…
But while it hopes to offer at least 10,000 of the Phantom machines by year-end, Infinium acknowledged in the filing that “no firm launch date has been set” for the system. Previously announced launch dates have been missed.
Continue reading
Recent Comments