Sarasota Offices Closed; Company Adds New Corporate Controller and General Counsel
SEATTLE. - Sept. 9, 2005 - Infinium Labs, Inc. (OTCBB: IFLB) announced today that the company 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. The withdrawal was requested to allow new management to focus its attention on the company's business strategy and plan of operations.
As previously announced, the company's headquarters were recently consolidated in Seattle, in connection with the appointment of Kevin Bachus as CEO, who is based in that city. In the past weeks, the company has closed its former headquarters in Sarasota, Fla., further reducing overhead.
In addition, the company has named John Anderson to the positions of Director of Finance and Corporate Controller. Anderson's responsibilities will include accounting management; budgeting and forecasting; and financial analysis and strategic planning.
Anderson joins Infinium Labs from Calipa Partners, a financial advisory service for early stage companies which he co-founded in 2001. Prior to Calipa, he was Chief Financial Officer of Reality Based Learning Company, Inc. and was Vice President, Finance for Tenzing Communications, Inc. Anderson began his career at the Boeing Company where he spent 20 years in various capacities including as Boeing's Finance Manager for its Mathematical and Computing Technology Group.
The company has also hired Adam Goldblatt as its General Counsel and Corporate Secretary. Goldblatt was previously General Counsel and Corporate Secretary for Pacific Edge Software in Bellevue, WA, where he negotiated intellectual property and capital-raising transactions, as well as partner, distributor, reseller, and OEM deals on a national and international level with Fortune 500 companies.
"I'm pleased that the Board has given me the power to make changes," Bachus said.
"We're tightening the ship and doing the things that I think will help us focus on commercializing our Phantom Game Service."
About Infinium Labs, Inc.
Infinium Labs is developing the Phantom Game Service, 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 http://www.phantom.net