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Infinium Labs says it needs $11.5 million to launch the Phantom

Peter Rojas
11.26.04
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Infinium Labs, which has yet to conclusively prove that they're ever going to really ship their PC-based Phantom video game console that they've been working on for a few years now (they already missed their November 18th launch date), has admitted in a Securities and Exchange Commission filing that the source of the problem is that they need to find another $11.5 million in funding to get things rolling. Right now they're hoping to launch the Phantom Game Service and Phantom Game Receiver in Q2 of next year, but without a cash infusion this might prove especially troublesome, since at the time of the filing they only had $20,991 in the bank. And no, we didn't leave some zeroes off the end there.