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Infinium Labs

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.

tags: Games | Deals | VC | Infinium Labs | Phantom Entertainment | Timothy M. Roberts | LINLEY Mgmt. |

Infinium Labs Names Manufacturer for Gaming Keyboard

Authored by Mark Hefflinger on May 31, 2006 - 1:11pm.
Seattle - Infinium Labs, the developer of a long-delayed, broadband-based PC gaming console, on Wednesday said it has selected a manufacturer for its first product, a gaming keyboard it plans to release in October.
tags: Games | Tech | Hardware | PC Games | SEC | Infinium Labs | Keyboards | Itron Technology | Phantom Lapboard |

Infinium Labs Names Manufacturer for Phantom Lapboard

Authored by Mark Hefflinger on March 2, 2006 - 7:29am.
Seattle - Infinium Labs, the developer of a long-delayed, broadband-based PC gaming console, announced on Thursday that it has partnered with Synapse Product Development, which will manufacture its Phantom Lapboard gaming keyboard. While Seattle-based Infinium said it is on track to release the Phantom Lapboard in 2006, it gave no mention of release details for its Phantom Game Service, which was initially slated to launch in 2004.
tags: Infinium Labs | Phantom Lapboard | Manufacturer |

Infinium Labs Names Greg Koler as New President and CEO

Authored by Mark Hefflinger on January 11, 2006 - 3:51am.
Seattle - Infinium Labs, the developer of a long-delayed broadband PC-based video game console, announced on Wednesday that it has named Greg Koler as president and CEO, replacing former Xbox head Kevin Bachus, who resigned as CEO of Infinium after less than four months on the job. Koler, who was serving as interim CEO of Infinium, previously worked at game publisher TDK Mediactive and Gemstar-TV Guide International. "Our business operations plan has been revitalized and a more efficient production, sales and distribution platform established to activate our launch program in 2006," said Infinium's Richard Angelloti.
tags: Infinium Labs | CEO | President | Greg Koler |

Infinium Labs Schedules Board Meeting to Discuss Turnaround Plan

Authored by Mark Hefflinger on November 30, 2005 - 8:56am.
Seattle - Infinium Labs, the developer of the oft-delayed Phantom Game Service that last week saw the resignation of CEO Kevin Bachus, announced on Wednesday that it plans to present a turnaround plan to the company's board of directors on Dec. 12. "From my perspective, there are three key areas that the company must focus on. First and foremost is the need to close on funding to launch the Phantom Game Service," said Greg Koler, the company's newly appointed CEO. "At the same time, the company must maintain and reinvigorate its partner and key supplier relationships while efficiently managing its current resources and ongoing operating expenses." Infinium also hopes to soon file forms to regain compliance and enable its shares to resume trading on the Nasdaq.
tags: Infinium Labs | Board | Discuss | Turnaround Plan |

Infinium Labs Names Former Xbox Exec Kevin Bachus as CEO

Authored by Mark Hefflinger on August 16, 2005 - 9:27am.
Seattle -- Infinium Labs, developer of the long-delayed Phantom video game console, announced on Tuesday that its board of directors has named company president and former Xbox executive Kevin Bachus as its new chief executive. Infinium founder and former CEO Timothy Roberts will continue to serve on the company's board. The company also said it has consolidated its corporate operations from Florida to Seattle, where Bachus has been based. "I intend to move swiftly to assemble the missing pieces needed to bring the Phantom Game Service to market," said Bachus. Infinium Labs has shown prototypes of its broadband PC-based gaming service at the last two Electronic Entertainment Expo video game shows, but has delayed the launch of its product several times since 2003 -- giving it the dubious distinction of being named Wired News' "Vaporware of the Year" for 2004.
tags: Xbox | Infinium Labs | CEO | Kevin Bachus |

Investment Firm Sues Game Console Maker Infinium Labs

Authored by Mark Hefflinger on December 1, 2004 - 5:03am.
Sarasota, Fla. -- Infinium Labs, developer of a PC-based broadband gaming console, has been sued by a California-based investment firm that claims it has not been paid for its efforts to secure outside investment in the company. Newport Beach, Calif.-based SBI-USA says its agreement stated it would be paid a percentage of all financing received by Infinium for 12 months following the execution of the agreement, adding that Infinium says it has secured $30 million in debt and financing since March 2004. Florida-based Infinium Labs denied the allegations, arguing that SBI-USA "misstates the now-terminated agreement between the parties as well as the amounts raised by the company." Infinium has several times delayed the launch of its Phantom gaming console, and divulged in its recent quarterly report that it will need an additional $11.5 million to launch the device next year.
tags: Infinium Labs | Investment Firm | Game Console Maker |

Infinium Labs Postpones Phantom Game Console Launch Until 2005

Authored by Mark Hefflinger on September 28, 2004 - 9:18am.
Sarasota, Fla. -- Infinium Labs, developer of a PC-based broadband gaming console, has announced that it has postponed the release of its Phantom gaming service from November until some time in 2005. "The decision was at the request of both its retail and marketing partners, who have told Infinium that they want more time to plan merchandising activities for the new games-on-demand service," the company said in a statement. The company did not provide a new launch date for the service, which will provider gamers with free hardware in return for subscribing to the broadband game delivery service. "Retailers gear their fourth quarter holiday promotions around gift-giving opportunities," Infinium president Kevin Bachus told GamesIndustry.biz, "and they feel, as we do, that our service will not be bought primarily as a gift for someone else. It will more likely be a self-purchase."
tags: Infinium Labs | Phantom Game Console |

Gaming Console Developer Infinium Labs Gets $50 Million Credit Line

Authored by Mark Hefflinger on July 21, 2004 - 4:55am.
Sarasota, Fla. -- Infinium Labs, developer of the Phantom PC-based broadband gaming console, announced that it has secured a new $50 million credit line from an institutional investor. The new line replaces an earlier equity investment of $46 million from SBI-USA, Trilogy Capital Partners, HaDavar HaNachon and Reich Capital, which the company has cancelled. Infinium CEO Timothy Roberts said the new deal is less dilutive to shareholders, provides better terms and is a better fit for the company's capital plan and budgetary needs. Florida-based Infinium said it plans to release its Phantom game console in the fall.
tags: Games | Infinium Labs | Credit Line |

Game Console Maker Infinium Labs Effects 4-for-1 Forward Stock Split

Authored by Mark Hefflinger on March 16, 2004 - 5:19am.
Sarasota, Fla. -- Infinium Labs, developer of a PC-based video game console, announced on Tuesday that it will effect a four-for-one forward stock split, in order to increase the total number of shares available and better position the company for potential investors. In order to have enough shares available to implement the stock split, Florida-based Infinium will simultaneously increase the number of authorized shares of its stock from 50,000,000 to 200,000,000 shares. The transaction is expected to become effective after April 15. Infinium Labs plans to show working models of its Phantom game console for the first time at the Electronic Entertainment Expo in May.
tags: Games | Infinium Labs | Stock | Split |

Phantom Game Console Developer Infinium Labs Raises $15 Million

Authored by Mark Hefflinger on January 26, 2004 - 2:33am.
Sarasota, Fla. -- Infinium Labs, developer of a video game console that plays PC games downloaded over a secure broadband network, announced on Monday that it has received a $15 million financing commitment. Investors buying shares in the company included SBI-Brightline VI and Infinium Investment Partners. Florida-based Infinium Labs said the financing will allow it to enter the manufacturing stage for its Phantom Game Console, which it previewed at the Consumer Electronics Show in Las Vegas earlier this month. At launch, the $300 device is expected to come loaded with 50 or so games, and will require that users pay a $10 monthly fee to access the broadband PC gaming service.
tags: Games | VC | Infinium Labs | Phantom |