THE SCAM THAT KEEPS ON SCAMMING
Gamespot is reporting that the folks at Infinium Labs, "makers" of the Phantom game console and Phantom Lapboard are now attempting to change their name from Infinium Labs to Phantom Entertainment. For those unfamiliar with Infinium Labs who may be wondering why I'd put the word "makers" in quotes, since they announced the Phantom game console back in 2002, they have made absolutely nothing. The company seems to exist solely for the purpose of draining investors money and never having a thing to show for it. Quite amazingly, people continue to invest in the company. Perhaps Infinium figures if they change the name of the company, the stink won't hit prospective victims noses as fast as it currently does. I guess they'll soon be asking for a few more million dollars to blow as they try to figure out how to make a PC keyboard.
You'd think after they opened the books back in February and showed that for all the money they took in and squandered on everything but development of their product, there was still nothing to show for it, they would have just folded. Nope, not these guys, they're here for the long haul. As listed by Infinium Labs in their SEC filing for the prospective name change;
"The Board of Directors believes that the name change would be in the best interests of the Company because the new name better reflects the long-term growth strategy of the Company." -Infinium Labs SEC filing as reported by Gamespot
So... the long-term growth strategy of the company is better reflected by the word "Phantom"? - that sounds about right.
Check out our previous articles on Infinium Labs here and here, as well as the Gamespot article here. I still love how the Phantom console is displayed proudly on their homepage when they effectively cancelled the project to work on the Phantom Lapboard.
Posted by nylatenite
at 2:55 AM EDT