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SEC Charges Former Infinium Labs CEO in Junk Fax Scam

Authored by dmw on May 17, 2006 - 4:51pm.
Washington - The Securities and Exchange Commission (SEC) has charged the former CEO of video game developer Infinium Labs in a fraudulent junk fax scheme that artificially inflated the company's stock price. The SEC alleges that former Infinium CEO Tim Roberts hired a stock promoter to send tens of thousands of faxes to potential investors, touting the impending launch of its Phantom game service in January 2005; the oft-delayed device has yet to reach the market.
tags: Law | Investing | SEC | Infinium |

Infinium Raises $5 Million to Launch Gaming Keyboard Accessory

Authored by Mark Hefflinger on January 25, 2006 - 9:17am.
Seattle - Infinium Labs, the developer of the long-delayed Phantom PC-based broadband video game service, announced on Wednesday that it has raised $5 million in new funding from Golden Gate Investors. The funds will be used to manufacture, market and sell the company's Phantom Lapboard wireless gaming keyboard and mouse, which the company hopes to being shipping in the first half of 2006. Seattle-based Infinium, which recently saw the departure of CEO Kevin Bacchus, a touted former Xbox executive, has twice received Wired News' "Vaporware of the Year" award for its Phantom Game Service, for failing to come to market with the device after its announced launch dates.
tags: VC | Infinium | Keyboard | Accessory |

Former Xbox Exec Bachus Quits as CEO of Troubled Games Firm Infinium

Authored by Mark Hefflinger on November 21, 2005 - 2:58am.
Seattle - Kevin Bachus, a former top Xbox executive at Microsoft, has announced his resignation as CEO of Infinium Labs, the developer of an unreleased video game console he joined in December 2003. "I'd like to thank Kevin for his past support and wish him well with his future endeavors," said Greg Koler, who was named interim CEO, CFO, president and a director of Infinium. "A lot of that support has helped put our operational planning on track and has helped create awareness for the company in the industry." Koler was previously general manager of Gemstar-TV Guide's European Infomedia unit, and was a founding director of Sony Computer Entertainment Europe. Seattle-based Infinium Labs was slated to release its "Phantom" PC-based broadband gaming service in the fall of 2004, but numerous delays have pushed the release to at least mid-2006.
tags: Games | Xbox | Infinium | CEO | Bachus |

Infinium Seeks Delisting of Unauthorized Shares from German Exchanges

Authored by Mark Hefflinger on August 18, 2004 - 2:24am.
Sarasota, Fla. -- Infinium Labs, developer of a PC-based broadband gaming console, announced on Wednesday that it has requested that its shares be delisted from the Frankfurt and Berlin Stock Exchanges, as the company did not authorize any shares to be traded in Germany. Recent media reports have indicated that a number of U.S. companies have been listed on German exchanges without permission, by brokers seeking to circumvent U.S. restrictions on short selling. "Our legal counsel also is notifying the Berlin Stock Exchange that our stock has been listed on the Berlin Exchange without the company's knowledge, consent or authorization. We are requesting that our shares be delisted from the Berlin Exchange and the names of the listing brokers be delivered to Infinium Labs," said Infinium CEO Timothy Roberts. Florida-based Infinium Labs is set to release its Phantom gaming console in November.
tags: Infinium | German | Shares | Unauthorizes | Exchanges |

Infinium Plans Nov. 18 Launch for Broadband PC Gaming Console

Authored by Mark Hefflinger on May 10, 2004 - 2:27am.
Sarasota, Fla. -- Infinium Labs, which has been stealthily developing a PC-based broadband video game console, announced on Monday for the first time that its Phantom gaming console will go on sale Nov. 18. The Phantom will cost $199 on its own, but will be offered for free if consumers purchase a two-year subscription to the $29.95 per month broadband gaming service. The device -- which comes with a gamepad, a mouse and a custom keyboard -- will allow subscribers to play a selection of free PC games included with their subscription on any TV, as well as rent or purchase other game titles. Florida-based Infinium said the device will be manufactured in Taiwan by Biostar, and will feature a 40GB hard drive, an AMD Athlon CPU, and Nvidia graphics processing units and platform processors. Infinium Labs also said that its recently announced first round of venture capital financing increased from $44 million to $46 million following an additional commitment from Reich Capital.
tags: Games | Broadband | PC | Infinium |

Game Console Developer LInfinium Labs Gets $44 Million

Authored by Mark Hefflinger on April 22, 2004 - 3:38am.
Sarasota, Fla. -- Infinium Labs, developer of a PC-based broadband gaming console, announced on Thursday that it landed a $44 million stock purchase agreement, replacing a previously announced placement valued at $15 million. New investor HaDavar HaNachon joined SBI-USA and Infinium Investment Partners, an affiliate of Trilogy Capital Partners, in the increased commitments. Florida-based Infinium, which yesterday was sued by partner DiStream over payments for using that company's technology, said that it expects the new funds to be sufficient to launch its Phantom game console during the 2004 holiday season.
tags: Infinium | Raise | Game Developer | Labs |