Infinium Labs do in fact still exist, despite no sign of the 'broadband-only' console yet, and mounting financial problems, having this week changed their company name to Phantom Entertainment. Apparently, the name change also saw the firm double the 'number of authorised shares' to 1.2 billion, whatever that may mean.

Former CEO and chief Kevin Bachus is presently suing the firm for alleged "unpaid wages and accrued and unpaid personal time off" to the tune of some 50,000 USD, whilst for their part Phantom Entertainment promise to defend this suit 'vigorously'. Last year Infinium/Phantom made a loss of nearly 30 million USD, and have still to confirm a plan to get their new console to market. Indeed, in their latest financial report the company conceded that auditors had expressed doubt about the company's ability to continue 'as a going concern', which doesn't sound too promising.

Phantom may still be hoping that their stylish Lapboard peripheral for gamers can save the day, but having announced the wireless gaming set at the beginning of the year, promising a mid-2006 launch, the company have now gone quiet on this too. We'll keep you posted as we learn more.

By Luke Guttridge