Infinium Labs, the company infamous for its highly-touted but still-stalled Phantom console, has released a prospectus revealing losses of $62.7M in the past three years.
The prospectus was released in accordance with an arrangement made with an investment group, Golden Gate Investments, which has agreed to funnel $5M in funds into Infinium's coffers. The prospectus details a litany of spending; curiously, however, of that money spent, only $3.5M went towards development of the console. The rest is split into sizeable chunks directed towards advertising (more than half of the total losses), a whopping $12.8M in consultancy fees, $11.9M in salaries, and just under $6M in operating expenses.
The firm still hopes to one day release the embattled console, but admits in the prospectus that chances of this happening in the near future are slim. As such, it is focusing its efforts on its Phantom Lapboard, a custom peripheral device that combines a keyboard with a mousepad on a rotating turntable.
Infinium has tentative plans to advertise the device through viral marketing, using various tactics such as message board plants and "lapboard eye candy" to drive its message home; whether or not this campaign will consume another $30M in funding was not mentioned in the prospectus. As the company is currently lacking in funds - and up to its eyeballs in defaulted royalties agreements with Atari, Enlight, Codemasters, and Eidos, among others, as well as unpaid rent to its landlord - it has, characteristically, noted that it cannot at this time guarantee a release timeframe for the device.
Should Infinium ever manage to release an actual product, RPGamer will be there to cover that product and any RPGs released on it. For more information on the company, go here.