Gamespot reports that a prospectus filed with the Securities and Exchange Commission revealed that Infinium Labs, makers of the Phantom Game Console, have blown through nearly $63 million dollars, with only $3.5 million going to development costs. Half has been spent on advertising (advertising what?) and the other significant expense was... consultants.

In order to recoup their losses, the company reiterated their intention to (further) delay their Phantom Game Service and concentrate on selling the lapboard peripheral. They are also having trouble paying their $25K/month Seattle rent, so if any readers in the Seattle area have an extra bedroom, or a converted garage, help 'em out.