It’s Either Ego or Unceasing Optimism
Sunday, May 28th, 2006Vaporware darlings Infinium Labs, progenitors of the Phantom, have an announcement to make. Instead of closing up shop and admitting their box is truly vapor, they’re changing their name to the Phantom Gaming Service and to…heh. Hahheehoohohoholollerskates++!
To double the amount of stock currently available to the public from 600 million shares to 1.2 billion.
I’m wiping tears of laughter from my eyes from reading that, I really am.
What’s more:
Our loss from operations for the quarter ended March 31, 2006 was $2,752,327. Our loss from operations for the year ended December 31, 2005 was $29,814,606. At March 31, 2006, we had a working capital deficit of $11,523,869 and accumulated losses since inception of $69,331,794. In their report on our audited financial statements for the year ended December 31, 2005, our independent auditors expressed substantial doubt about our ability to continue as a going concern.
All I know is I’d like to be allowed to spend almost $70 million of other peoples’ money to come up with a keyboard and a mouse. It’d get me into E3 as an exhibitor, wouldn’t it? Hell, it’d be almost worth it! MONEY HATS FOR ALL!
That said, I don’t know how the hell a strategic alliance between Infi…er, Phantom Gaming Service and Itron Technologies is going to benefit anyone. I mean, sure, the lapboard/mouse combo is about the only solid thing they came up with and actually demoed, but doubling their stock offering isn’t going to raise any more money, what with last pump and dump scam that they came up with.
You gotta love it, though. It’s like, “What if Red Dragon Software was REAL?”
Hm.
Actually I suppose that would be Dark and Light. Ah, well. Carry on.
