Phantom Update Shows New Investments

The latest operations update filing from Phantom Entertainment shows that the company has received new investments to help manufacture and market its lapboard product, though far more modest than those the company had originally enjoyed. According to the update, Phantom has closed an arrangement with Chicago Venture Partners managing partner John Fife for additional funding to bring its Phantom Wireless Lapboard and Wireless Laser Mouse to market. The investment was revealed to be $250,000, a far cry from the $5 million investments the company, then Infinium, was pulling in at the start of this year. Elsewhere in the update, Phantom officials note that, after a notable absence at the last E3, the company plans to exhibit its products at January's 2007 Consumer Electronic Show, and that Phantom's president and CEO Greg Koler will be concurrently speaking at the CES Game Power Conference, at a session entitled "Game Power II: PC and Mobile Games." In previous filings, the company has mentioned that it will attempt to launch its much-hyped Phantom gaming service after the Lapboard is successfully rolled out, but the game service itself did not merit a formal mention in this status update, with Phantom Entertainment only adding that the service is still in development. Finally, the update also notes that the company has closed its lease on its Seattle office space and will be relocating all of its assets back to the company's original home in Florida, presumably with its Seattle connection -- former Xbox chief Kevin Bachus, who led the Infinium company briefly -- now far removed from Phantom Entertainment. Said Chicago Venture Partners' John Fife, "I am excited about the opportunity to work with Phantom Entertainment and to be a financing resource to help the Company move forward with manufacturing the Phantom Wireless Lapboard. I intend to consider additional infusions of capital to Phantom Entertainment as the company meets its manufacturing and revenue goals."