Tiger Woods Out...Until August!
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| | (Post a comment) » Infinium Labs insolvent?Damn, just as all the jokes stopped about the vaporware at E3, this comes out.
As reflected in the accompanying financial statements, the Company is in the development stage with no sales, a working capital deficiency of $3,962,226.
This raises substantial doubt about its liability to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company's ability to raise additional capital and implement its business plan. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.
Elsewhere in the article it mentions that the company has just over $100k cash on hand and will require almost $70m over the next year while expecting revenues of $35m. |  Previous news article | Back to main news | Next news article  |
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#21
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Author:
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Anonymous at 08:15am 09/29/2004
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Response to #1:
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According to todays Sarasota Herald Tribune, they did not have the
cash to make payroll recently. This thing is not looking good. The
only Phantom I have seen is the "phantom" paychecks issued
to emplyees recently.
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#20
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Author:
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Anonymous at 08:24am 09/8/2004
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Comment:
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While this company is obviously guilty of years of vaporware, I've
been fairly impressed by their recent work. My office was right
next to Infinium's Seattle engineering office for months, and they
clearly employ a number of smart, driven people. They've been
working long hours for months, and I've seen a handful of Phantom
prototypes/production samples. They moved to a new, larger office
at the beginning on September, so I haven't seen any of them around
recently, but all indications were that they were on-schedule for a
November launch.
They didn't look like a company that was trying to save their last
few dollars. I've been there, done that, and been promised the
t-shirt. Infinium looks more like a startup racing to get their
first product to market.
Having said that, I'm still not sure why anyone would want to buy a
Phantom, but that's a different problem.
(Disclaimer: I never worked for them, or had any financial interest
in them whatsoever. I just worked next door)
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#19
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Author:
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Anonymous at 04:04am 09/7/2004
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Response to #2:
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Yeah but anyone dumb enough to invest in this p.o.s. deserves to
lose all of their money at the very least. Actually I think they
should be shot for blatant stupidity, but I guess losing their
investment will have to do.
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#18
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Author:
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Anonymous at 03:39am 09/6/2004
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Response to #17:
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You talking about HardOCP guys? Ha ha, yeah. I'm sure they've got
a big grin on their faces right now.
Let's be honest - their article was very direct, but they never said
anything that wasn't true....
Wonder what this is gonna do for the lawsuits flying around...
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#17
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Author:
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Anonymous at 02:13am 09/6/2004
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Comment:
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Kyle was right, lucky for him.
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#16
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Author:
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hellmonger at 04:47pm 09/5/2004
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Response to #11:
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Every once in awhile I wonder why I have such strong feelings of
hatred and malice towards people as a whole, but I always seem to
run into an individual who refreshes my memory.
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#15
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Author:
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domenad at 01:50pm 09/4/2004
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Response to #12:
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Ptbptb. An absolutely unflappable mistake. You have me dead to
rights - it's definitely 10 bucks, not 100.
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#14
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Author:
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Anonymous at 12:59pm 09/4/2004
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Comment:
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Sell short 1000 shares and pick up a quick $450, buy a new video
card =)
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#13
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Author:
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phirewind at 11:51am 09/4/2004
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Comment:
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sounds like they got just legitimate enough to fool more people this
time.
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#12
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Author:
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Haggismaximus at 10:30am 09/4/2004
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Response to #5:
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Or, rather, you would make a Cool $10.00. Might want to brush up on
3rd grade math...
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