http://gamingtrend.com
August 22, 2014, 11:50:49 AM *
Welcome, Guest. Please login or register.

Login with username, password and session length
News:
 
   Home   Help Search Calendar Login Register  
Pages: [1]   Go Down
  Print  
Author Topic: Infinium gets MORE funding  (Read 987 times)
0 Members and 1 Guest are viewing this topic.
Destructor
Special Project Group
Gaming Trend Senior Member

Offline Offline

Posts: 15915


▲▲▼▼◄►◄►B A Start


View Profile WWW
« on: January 26, 2006, 12:18:17 AM »

I can't believe this - some other fool actually believes that Infinium Labs will make something profitable in their lifetime. From Gamasutra:

Quote
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:
Quote
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.
Logged

"All opinions posted are my own, and not those of my employers, who are appalled."
Turtle
Gaming Trend Senior Member

Offline Offline

Posts: 9346



View Profile WWW
« Reply #1 on: January 26, 2006, 01:18:01 AM »

The Producers comes to mind.
Logged
Punisher
Gaming Trend Senior Member

Offline Offline

Posts: 1729



View Profile
« Reply #2 on: January 26, 2006, 02:13:52 AM »

Quote from: "Turtle"
The Producers comes to mind.


Ditto....
Logged
Hapfloyde
Gaming Trend Reader

Offline Offline

Posts: 131


View Profile
« Reply #3 on: January 26, 2006, 03:22:36 AM »

Does this mean we'll eventually get to witness a wonderful show where they put explosives under their HQ and factories after inviting their shareholders to see their new prototype?  Or will it never get that bad as it would require them to actually build something?
Logged

Ha, ha, ha. You have struck Hercules!
Calvin
Gaming Trend Senior Member

Offline Offline

Posts: 13895

President of G.R.O.S.S.


View Profile
« Reply #4 on: January 26, 2006, 05:18:43 AM »

I honestly have no words to express how I feel about this. Its simply too much.
Logged
Destructor
Special Project Group
Gaming Trend Senior Member

Offline Offline

Posts: 15915


▲▲▼▼◄►◄►B A Start


View Profile WWW
« Reply #5 on: January 26, 2006, 05:55:58 AM »

You know, the part I can't figure out is this - if Infinium can get this kind of money so easily, why can't I get that kind of money without having any product to show off, any future to show, etc? What am I doing wrong?
Logged

"All opinions posted are my own, and not those of my employers, who are appalled."
unbreakable
Guest
« Reply #6 on: January 26, 2006, 06:56:16 AM »

What's that one saying?  About a fool?  And his money?
Logged
Bob
Gaming Trend Senior Member

Offline Offline

Posts: 997


View Profile
« Reply #7 on: January 27, 2006, 02:19:54 AM »

Quote from: "Destructor"
You know, the part I can't figure out is this - if Infinium can get this kind of money so easily, why can't I get that kind of money without having any product to show off, any future to show, etc? What am I doing wrong?

The guy behind Infinium is the most impressive legal scam artist I have ever heard of. Infinium isn't even the first time he's pulled this off.
Logged
unbreakable
Guest
« Reply #8 on: January 28, 2006, 02:02:26 AM »

Some people are just great at failing upwards.  He should get into politics.
Logged
Hapfloyde
Gaming Trend Reader

Offline Offline

Posts: 131


View Profile
« Reply #9 on: January 28, 2006, 03:03:15 AM »

I think we already have enough people skilled at making large piles of money dissapear in the government, thank you very much.
Logged

Ha, ha, ha. You have struck Hercules!
unbreakable
Guest
« Reply #10 on: January 28, 2006, 10:13:43 PM »

The only thing is, a lot of them are likely getting indicted this year.  I guess it just means there are new openings for con artist.
Logged
Hapfloyde
Gaming Trend Reader

Offline Offline

Posts: 131


View Profile
« Reply #11 on: January 29, 2006, 01:07:53 AM »

Maybe he'll ressurect Star Wars...
Logged

Ha, ha, ha. You have struck Hercules!
Pages: [1]   Go Up
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2013, Simple Machines
Valid XHTML 1.0! Valid CSS!
Page created in 0.082 seconds with 47 queries. (Pretty URLs adds 0.015s, 2q)