Whither the Phantom?

[Evil Avatar]

CNN/Money (http://money.cnn.com/2005/05/19/technology/personaltech/e3_phantom) offers an update on what's going on with Infinium Labs' Phantom, which is conspicuously absent from this year's E3 after their big splash last year. Recent filings with the SEC show the company saying if it can't raise $11 million-plus in time, its existence might be at risk - and it's already working on alternate plans to stay in business.

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.

[MasterEvilAce]

Its existance "might" be at risk.
Lol.

There's no risk if there's nothing to show.
"Show me the money!"

[vornskr]

Why do people even care about this garbage anymore? It's almost like looking at a dying horse. And then giving a Nelson "Ha-Ha."

These people aren't even worth posting about anymore ;p

[GunnyMo]

What is sad is all of the investors in this "system" are out money. Of course, it's their own damn fault for backing such an obviously fraudulant package to begin with.

[Orphiuchus]

I don't know if its fraudulent, but it sure as hell is a bad idea. When your domestic competitor has a billion dollars behind its new system you simply cant expect to compete.

[Thenetcase]

Wow.. I think that they planned this for some reason.

I wonder if the owner even has a degree or if he's just a legal crook / con artist. He's had several other companies that did this exact thing with out producing a product once. Nice going.

[mister_slim]

With Steam and the Xbox Marketplace and the Revolution on the way, all they have is the keyboard/mouse device. Maybe Logitech will finish off the Infinium business plan for us.

[Rommel]

I was asking this exact question this week to a friend. We all knew this is fraudulant, but there is a sad story here. That keyboard/mouse combo looked rather cool - and I think if in the hands of a real company like logitech could be a common peripherial immediattely.

[bobbler]

If anyone has kept up with the shady dealings of this company (and the head honcho's behind it), it shouldn't come as any surprise. I just can't understand why the companies that gave them money to begin with didn't do a little research on their own, before wasting their money.

The main people behind this company get paid tons of money without even having to make a product, con men around the world are wishing they had come up with a plan this good. Its almost criminal. Either they are incredibly smart, or incredibly poor businessmen who keep getting chances (theres a few people from infineon who have been in similar situations more than once).

[raVen]

I honestly thought the Phantom had finished fading into obscurity.

[Heretic Machine]

Dawn will be the best MMORPG, EVAR!

Launch all fetapults!

[Klade]

Its like some horrible car crash you just can't help but look.

[Banacek]

The problem with this (and reason why we should pay attention to it) is that even though you and I know it's a complete scam, apparently investors out there don't. Which can seriously harm the business if(when) this company goes bankrupt. What they are doing is beyond evil, but sadly enough isn't a crime...

[Adam Blue]

lol. hahahaha. i dunno.

[jwbxx]

NNNNNNNNNNNNNNEEEEEEEEAAAAAAAAAAWWWWWWWWWWWWWWWWWW WWWWWWWWWWW KABOOM! (Plane crash)

[president_fred]

I think evilavatar.com should design and sell t-shirts like that Mulder poster in X-files but with the Phantom over the trees and then "I believe" on the bottom. I would pay top-dollar for that. And I claim dibs on the first one. In fact I would go so far as to design it if necessary but I am horrible at that sort of thing. I challenge someone to do it.

[Furious Wang]

I'm impressed. Running a scam for this long takes skill. Probably more skill than actually running a company. Lord knows how much cash this guy has pocketed.

[bapenguin]

quick, someone play taps.

[Wyrm]

The only thing I cant believe is that people ever defended this system or concept as realisticly being released... Especially after reading about the guy running the company.

[Klade]

I think evilavatar.com should design and sell t-shirts like that Mulder poster in X-files but with the Phantom over the trees and then "I believe" on the bottom. I would pay top-dollar for that. And I claim dibs on the first one. In fact I would go so far as to design it if necessary but I am horrible at that sort of thing. I challenge someone to do it.

Heh your either joking or have subconciously surpressed last years E3. You pretty much described the shirts that Infinium Labs WAS handing out.

[president_fred]

Heh your either joking or have subconciously surpressed last years E3. You pretty much described the shirts that Infinium Labs WAS handing out.

Its a postmodern joke am I stupid or am I joking? Stay tuned for next weeks thrilling resolution. Or else I just forgot and remembered now. I prefer the first alternative.

[danhoo]

I am so selling that "I believe" Phantom shirt I got at last years E3 on EBay once the company is officially dead and buried. Probably get $2.

[PacerDawn]

While the Phantom console may have it's detractors, I fear it's concept is the future of computer games.

Game development studios appear to be losing money by the buckets on single release games (that's what they say at least). They cost a lot to make, and in a lot of cases the audience isn't broad enough to recoup the development costs at the game's price point. The problem is, you spend years creating a game, sell it for a couple of months, and you are done. Then you have to spend years creating a second game because games take so long to develop, which creates a huge gap during which the developer is seeing dwindling income.

There are some games that do not have that problem: MMOG's. Why? Because they take in a continuous stream of revenue each month through subscriptions. Suddenly, development studios are starting to take notice. "Wow, you mean we can charge players monthly to play our game, versus just a one time fee??"

The Phantom is just the beginning. You purchase a game, and then pay them monthly to play it, much like an MMOG. Think this will die? Think again. The profit potential is HUGE and people are already showing they are more than willing to pay it (just look at the $$ that some of the popular MMOG's rake in). The only thing holding it back is the fact is the number of households hooked up to broadband. But, the more that number goes down, the greater the potential of this.

PC's already have something like this snuck into place. It's called Steam. I'll be willing to be that, in the future, Valve will release games that can only be run through Steam and an internet connection, and yes, require a monthly fee to play or Steam won't run them. Yes, thanks to Steam, Valve now has direct control over your gaming with it's products.

The concept of charging per month for content is already in practice today, with Cell phone games and applications (even some "desktop wallpaper" on a phone costs a monthly fee).

As long as people are willing to part with their money, companies will continue to try and find ways to separate them from it.

The future of gaming... only $19.95 a month.