Phantom Founder, Chairman Resigns; Company Raises $1.3 Million

Authored by Mark Hefflinger on July 10, 2007 - 8:51am.

Port Chester, N.Y. - Phantom Entertainment, a company that once planned to release a PC-based broadband gaming device, but later switched its target to an on-demand game software service that has yet to launch, announced on Tuesday that it has secured a $1.3 million loan to support the release of a wireless keyboard and mouse gaming accessory.

The loan was provided by European investors LINLEY Management.

Separately, Phantom announced that Timothy M. Roberts, its chairman, founder and former CEO when the company was known as Infinium Labs, has resigned to pursue new business opportunities.

Last year, Roberts was charged by the SEC for operating a "junk fax" scheme aimed at artificially inflating the company's share price.

New York-based Phantom has secured partnerships with Alienware and IONE Technologies to distribute and manufacture its Phantom Wireless Lapboard and Phantom Wireless Mouse, which it plans to launch in the fourth quarter of 2007.

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