Yeah, me neither.
After 3 years of development, Infinium Labs is finally, officially, putting the Phantom Game Service project on hold.
“From its inception in December of 2002 through September of last year, Infinium racked up $62.7 million in losses. Of that, only $3.5 million has been lost to development costs. The company has spent more than half that in advertising, even though none of its products or services have been released yet. More of the company’s money has been going toward consultants ($12.8 million), salaries ($11.9 million), and general and administrative expenses ($5.9 million).”
Apparently, it has gotten so bad that Infinium is in danger of losing it’s lease. The company is currently negotiating with it’s landlord to vacate so that they can be free to set up shop in another space.
They still plan on releasing their Infinium Lapboard sometime in the near future – but they will need additional financing to do so. Obviously, a company can’t exist without products, and Infinium is truly in a “do or die” situation.
For more info, check out the Gamespot article.
Posted by Sean