Is The Phantom Finally Dead?
from the giving-up-the-ghost dept
For years, we've been waiting on the Phantom gaming console -- not because we really cared, but just because it had pretty much become the king of all vaporware. You'd be hard pressed to find somebody that actually believed it existed, despite the protests of its "manufacturer", Infinium. Now comes word that the company is putting the Phantom on hold, in favor of bringing the gaming keyboard it announced in December to market. But guess what? Infinium says it needs more money to commercialize the keyboard. Apparently that's what happens when you never actually get around to selling any products. An SEC filing also details the company's plethora of unpaid debts, and shows that of the $62.7 million the company has spent since the end of 2002, just $3.5 million has gone to development costs. Perhaps the logical question isn't why did they spend so little on development, but why did they spend so much, considering their actual output?Thank you for reading this Techdirt post. With so many things competing for everyone’s attention these days, we really appreciate you giving us your time. We work hard every day to put quality content out there for our community.
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Obvious
Raise an IPO on vaporware, spend next to nothing to develop it, funnel the rest of the money to your buddies and out of the country.
If the SEC can't prosecute this company's behavior, than why trust the markets at all?
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No Subject Given
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How much went to 2Advanced.com?
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If Sega couldnt stay in the game, this company offered nothing new.
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Well yeah...
And whatever you do don't notice that the market mechanism is working as it ought by exposing the bad venture. That the accounting information demanded by the SEC is in fact cited in the article. Be sure to insist that it should have happened sooner.
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No Subject Given
Complaining to the SEC about this company is like calling the cops because the speakers you bought out of the back of that panel van were actually just bricks in a used Klipsch box.
Considered it an expensive lesson learned.
TANSTAAFL
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they will be competing and using microsoft at the same time, which is a weird idea.
so i have mixed oppinions, but maybe the new ceo is actually trying. i love games and this sounds like a good idea... even though it's staggering.
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DeLorean anyone
The /. way:
1. Start fake company with fake product (DeLorean, Phantom, OLED keyboard)
2. Get fake dollars from fake vulture capitalists
3. Get real dollars from real vulture capitalists
4. Spend some fake dollars on development
5. Buy a hummer limo
6. Move to the Bahamas
7. Profit!
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Hence the name "Phantom"
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Infinium
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