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Thursday, December 01, 2005
Infinium Labs, Inc.: New CEO Plans to Restructure Operating Plan
SEATTLE, Washington, November 30 /PRNewswire-FirstCall/ -- The new CEO of Infinium Labs, Inc., Greg Koler, announced today he will present his view of the operations of the company and discuss a turnaround plan to the Company's Board of Directors on December 12th.
"From my perspective, there are three key areas that the Company must focus on. First and foremost is the need to close on funding to launch the Phantom Game Service. At the same time, the Company must maintain and reinvigorate its partner and key supplier relationships while efficiently managing its current resources and ongoing operating expenses," Koler stressed.
"At the point where we have a firm plan to move forward or other milestones, we will inform our shareholders," Koler noted.
Additionally, the Company is working towards filing its Form 10QSB for the period ended September 30, 2005 in order to regain compliance and remove the "E" from its ticker symbol (IFLBE).
About Infinium Labs
Infinium Labs is in development of The Phantom Game Service, anticipated to be the first end-to-end, on-demand game service for delivery to the living room. Delivered over broadband, the Phantom Game Service is designed to offer casual and avid gamers a broad library of titles, available anytime, day or night. For more information, please visit www.phantom.net.
Safe Harbor Statement
Certain statements included in this press release may constitute forward-looking statements. Actual results could differ materially from such statements expressed or implied herein as a result of a variety of factors including, but not limited to: the development of the Infinium Labs technology, ability to secure additional financing, the successful marketing and distribution of the Phantom Game Service, acceptance by the market of Infinium Labs, products and technology, competition and timing of projects and trends in the gaming industry, as well as other factors expressed from time to time in filings Infinium Labs will make with the Securities and Exchange Commission (the "SEC"). As a result, this press release should be read in conjunction with periodic filings Infinium Labs makes with the SEC. The forward looking statements contained herein are made only as of the date of this press release, and Infinium Labs undertakes no obligation to publicly update such forward looking statements to reflect subsequent events or circumstances.
"From my perspective, there are three key areas that the Company must focus on. First and foremost is the need to close on funding to launch the Phantom Game Service. At the same time, the Company must maintain and reinvigorate its partner and key supplier relationships while efficiently managing its current resources and ongoing operating expenses," Koler stressed.
"At the point where we have a firm plan to move forward or other milestones, we will inform our shareholders," Koler noted.
Additionally, the Company is working towards filing its Form 10QSB for the period ended September 30, 2005 in order to regain compliance and remove the "E" from its ticker symbol (IFLBE).
About Infinium Labs
Infinium Labs is in development of The Phantom Game Service, anticipated to be the first end-to-end, on-demand game service for delivery to the living room. Delivered over broadband, the Phantom Game Service is designed to offer casual and avid gamers a broad library of titles, available anytime, day or night. For more information, please visit www.phantom.net.
Safe Harbor Statement
Certain statements included in this press release may constitute forward-looking statements. Actual results could differ materially from such statements expressed or implied herein as a result of a variety of factors including, but not limited to: the development of the Infinium Labs technology, ability to secure additional financing, the successful marketing and distribution of the Phantom Game Service, acceptance by the market of Infinium Labs, products and technology, competition and timing of projects and trends in the gaming industry, as well as other factors expressed from time to time in filings Infinium Labs will make with the Securities and Exchange Commission (the "SEC"). As a result, this press release should be read in conjunction with periodic filings Infinium Labs makes with the SEC. The forward looking statements contained herein are made only as of the date of this press release, and Infinium Labs undertakes no obligation to publicly update such forward looking statements to reflect subsequent events or circumstances.
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D.Vader // 12/01/2005 01:56:00 PM //
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