Infinium needs MONEY!

In its latest filing with the US S.E.C. Infinium says it’ll have to spend $US 22.2M over the next 12 months in order to execute its “current business strategy”. Basically it says it’ll need $US 11.5M to launch the Phantom Game Service and sell the first 10,000 units. Then another $US 10.7M to “achieve cash flow break even”. Then, as if that weren’t enough, it says it anticipates having to spend another $US 20.2M over the next 16 months for promotion and services.

Tough, since according to the Sept. 30 statement, it has $US 20,991 (yes, 20K) in the bank, leaving it a bit short. The company said it has hired SG Capital to help it raise the funding it requires, and indicated that it was already talking to a number of potential backers. It also plans to discuss a debt-for-equity scheme with its current creditors. But it warned: “If we are unsuccessful in raising capital or we do not launch the Phantom Game Service when currently planned, we will need to curtail our proposed spending.

This entry was posted in Infinium, Too Weird. Bookmark the permalink.