Infinium Labs, a Seattle-based company developing a video game system called the Phantom Lapboard, released some details about the company’s operations in a government filing today. Infinium was in the news this week when its chairman was charged by the Securities and Exchange Commission.
From the filing:
With enough financing, Infinium could start selling the Lapboard this year through its own Web site.
The Lapboard is a wireless keyboard with an integrated mousepad. The company is targeting the machine to children, teenagers and young adults.
Infinium has five full-time employees, one in research and development and four on the general and administrative side.
The company burns through $300,000 a month, and will need to raise $3.6 million over the next year to keep going.
This week, Infinium’s auditors have expressed doubt about the company’s ability to continue as a going concern based on its 2005 financial statements.
The company has been sued nine times in the past two years.