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Thursday, September 15, 2005

Infinium withdraws filing to sell shares, trims operations

Infinium withdraws filing to sell shares, trims operations

"Infinium Labs, manufacturer of the long-announced Phantom gaming console and service, today said that it has filed an application to 'voluntarily withdraw a resale registration statement on Form SB-2 filed with the Securities and Exchange Commission in January of this year.' SB-2 filings are typically used to register for a sale of securities to the public. According to Infinium, the withdrawal was requested to 'allow the new management to focus its attention on the company's business strategy and plan of operations.'

In addition, Infinium said that it has closed its headquarters in Sarasota, FL, and consolidated its operations in Seattle, WA, where the new CEO Kevin Bacchus is based. The company also hired John Anderson as director of finance and Adam Goldblatt as its general counsel and corporate secretary. 'We're tightening the ship and doing the things that I think will help us focus on commercializing our Phantom Game Service,' said Bacchus.

Infinium did not provide information when its 'game service' will be available."

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