Infinium Labs Scores New Investment

[fitbabits]

Gamasutra (http://www.gamasutra.com) has the details (http://www.gamasutra.com/php-bin/news_index.php?story=7919).

Theoretical Phantom Game Service and current Phantom Lapboard creator Infinium Labs has announced that it has received a $5 million dollar funding commitment from Golden Gate Investors.

The funding, which comes in the form of a convertible debenture and warrant, and allows for an initial funding payment of $625,000, with an eventual exercising of up to $5M in convertible debt. will allow Infinium to start manufacturing and marketing its PC Lapboard peripheral.
There's a saying about throwing good money after bad that would be particulary appropriate at this time.

[Hewie]

Good luck getting that money back, Golden Gate.

[overdrivechao]

Please... make them stop. Someone?

It's just... when you reach the level of joke that Phantom creators have reached, you really just need to give up and go work for a successful company.

[falcon]

So is Uwe Boll the Infinum of gaming movies or is Infinum the Uwe Boll of the console industry?

[fitbabits]

So is Uwe Boll the Infinum of gaming movies or is Infinum the Uwe Boll of the console industry?
Both and neither. :)

[PantherModern]

They really need to let this thing die. Gametap has this model already, and on a platform tons of people already own. Close up shop, declare bankruptcy, and move on infinium.

[Zanzibar]

Good Grief! (http://us.f2.yahoofs.com/bc/425d9c28_46fe/bc/Public/Good+Grief!.jpg?bf6Y81DBHLv6dKxl)

[falcon]

Just release the lapboard for consoles and let us all move on with our lives.

[doyama]

You'll be surpised at the kinds of things investors put money into. You have to remember that these guys only know how the high-level workings of the gaming industry works. They'll know all about the EA's and Eidos'. But they're not going to be scouring google for the nitty gritty history of the Phantom, they just don't have the time! That's what executive summaries are for :P

In any case, the reason the Phantom is alive is because of their founder. He must be a very very very slick operator and salesman. He's the kind of guy that can make you believe white is black and black is white if you let him. A Reality Distortion Field worthy of Steve Jobs!

I guess 'maybe' they're looking for a sure loser for a write off maybe? But if I know my venture capitalist they never go into anything to lose, only to win, win big, and definitley screw over as many people in the process.

[Zanzibar]

If Infinium separates out its current debt for the Phantom service from the development of the lapboard, then it may have a shot. Otherwise, how the hell they expect to make over $50mil off of sales of the lapboard alone is beyond me - the article itself shows how they're $50mil in the hole.

[DeadPixel]

http://www.ne2.com/images/phantom.jpg

Due to such dedicated respect towards this excellent product, I bring you the Evil Avatar exclusive deal. Only 100 units will be available on eBay. They sell quick, so reserve yours today!

Disclamer: Smoking for kids is not recommended.

[Abash Alarmist]

I'd hit it

[Doctor Setebos]

I love how they highlight the WASD keys on the keyboard, because that makes it for gamers!

[amusedtoe]

Is there some loophole like that German tax law one where a loss from investing in such a thing can be written off?

[51|RandoM]

Is that the only controller bigger than the original xbox controller?