Infinium Labs today provided an operations update stating that it is still working on the Phantom Game Service and is currently licensing technology to well-established manufacturers of PCs and digital home entertainment, although no mention of the actual console is made. The Phantom Lapboard, currently in a prototype state, is scheduled for October.

In a Feb 13 filing with the SEC, Infinium Labs revealed several details about its rather poor financial state. In the filing, Infinium revealed it does not have enough cash and needs to raise $1.6 million in additional funds immediately, or assets may be foreclosed upon by secured lenders, or operations could completely cease. As a result, the Phantom Game Service has been put on hold to rush out its Phantom Lapboard. Infinium Labs is also moving at the end of the month, as they have been unable to pay rent on its office for several months and are being evicted.

Phantom developer Infinium Labs announced today that it has received a $5 million dollar funding commitment from Golden Gate Investors to start maufacturing Phantom Lapboard, but no word on the actual console device.

Infinium Labs has officially named Greg Koler as its CEO and President with board approval for its operations mandate. The appointment was approved by the Board of Directors and is effective immediately.

Still no Phantom console, instead CEO and President of Infinium Labs Greg Koler has announced Infinium Labs will be launching the Phantom Lapboard in Q-2 of 2006.

Infinium Labs announced today that its president and CEO Kevin Bachus has left the company to pursue other opportunities. Greg Koler has been appointed as interim CEO, president, chief financial officer and director.

Infinium Labs today announced an agreement with OpSource, an enabler of Software as a Service (SaaS) applications. The agreement enrolls Infinium Labs in a 90-day SaaS Enablement Program to utilize OpSource's suite of tools and services to analyze and fine-tune the Company's business model, operational plan and service delivery.

Richard S. Skoba announced today that he has turned in his resignation to Infinium Labs. Mr. Skoba was a member of the senior management team, serving as the Executive Vice President of Business Development and Sales for Infinium Labs since January 2004. His resignation is effective as of April 30, 2005.

President of Infinium Labs and former Microsoft Xbox creator Kevin Bachus will be a lead speaker for a panel on the "History of Gaming" at the upcoming 2005 Consumer Electronics Show (CES), the world's largest annual trade show for consumer technology, Thursday – Sunday, Jan. 6 – 9, 2005 in Las Vegas.

Infinium Labs will demonstrate its flagship Phantom Game Service, built on Microsoft's Windows XP Embedded technology, in the Microsoft booth No. 7145 in the Central Hall of the Las Vegas Convention Center during the Consumer Electronics Show (CES), Thursday to Sunday, Jan. 6 - 9, 2005.

Investment firm SBI-USA has initiated a lawsuit in the United States District Court, Central District of California, against Infinium Labs Inc. and its CEO, Timothy M. Roberts, stating claims for breach of contract and fraud arising from Infinium Labs Inc.'s default under an Investment Banker/Advisor Agreement entered into with SBI-USA, LLC in March 2004.

Infinium Labs announced today it has launched an official forum for an ever-growing group of avid gamers and friends who are interested in the Phantom Game System and the PhantomNet - VPGN (Virtual Private Game Network).

Infinium Labs today announced that Gigex, the leading promotion and marketing service for interactive entertainment, will be the exclusive distribution partner for the online video unveiling of the Phantom Game Console. The video unveiling will take place at midnight ET, Sunday, Aug. 17, at www.phantom.net and www.gigex.com/phantom.