I can't believe this - some other fool actually believes that Infinium Labs will make something profitable in their lifetime. From Gamasutra
heoretical 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.
The PC peripheral, which is being billed by Infinium as "the first device to allow gamers to comfortably use a mouse and keyboard from their couch", rotates for left and right-handed users and also inclines on a 90-degree angle, with a hard surface below for the Phantom Mouse.
I love this part:
However, with a recent financial statement revealing that Infinium Labs still "has recurring losses from inception of $57,570,723, has a working capital deficiency of $10,085,662, a stockholders deficiency of $9,470,271 and has a negative cash flow from operations of $14,888,265 from inception", and will need to pay significant cash amounts to game licensors and Phantom hardware contractors, the Game Service itself may have to wait a little longer before getting officially under way.
So...they're HOW much in the hole right now? $50 million? And somebody invested in them? Idiots.