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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: StockDung who wrote (89180)	1/7/2005 12:04:37 PM
From: scion	Read Replies (3) \| Respond to of 122088

Infinium Lab stock begins its descent as market awakens to reality of massive dilution from toxic funding deal Shareholders began reacting to Wednesday's disclosure of a highly dilutive and punishing $.10 toxic funding package put together between Infinium Labs (OTCBB IFLB) management and several publicity shy funding sources. Despite not disclosing the funding package until December 22, a massive pump of the stock, featuring illegal "wrong number" faxes, began on December 17th, the day following the agreement. The first day of the pump saw IFLB move from $.27 to $.53 on significantly higher volume. The pump continued with the stock reaching $1.59 on Jan 4 before the truth of the funding was disclosed. Revealed on Wednesday was the fact that, as the stock rose from $.27 to $1.45 on December 28th, CEO Timothy Roberts and President Kevin Bachus were cutting a deal with their apparent pals to reduce the conversion price of the financing debenture from $.266 to no more than $.10. per share while increasing the total number of shares in the required offering to over 77 Million.. The massive pump of Infinium stock included illegal "wrong number" faxes which are similar in their purpose to the wrong number phone scam first exposed by Our-Street.com in August. The fraudulent faxes were handwritten and addressed to a Dr. Mitchel. They began arriving on fax machines across the nation following the agreement and, begged the doctor to turn on his cell phone so that he could place a trade in a stock that's about to triple in price. The fax appeared to have been sent by "Chris," whom, according to the body of the fax, was Mitchel's financial planner. Of course, Kevin Bachus, professed innocence to the entire scam claiming he had no idea why the sudden increase in volume and price unless it was because "we did recently announce the launch of our Phantom Game Service in the second quarter of 2005." A quick check of company press releases shows no such announcement prior to the pump since mid November. In fact the company has been hyping then delaying release of this technology since at least 2003. No stranger to controversy, Infinium, Roberts and Bachus have been the subject of ridicule and heated controversy within the gaming community where the company's technology is more scoffed at than admired. Video gamers being both a passionate and internet savvy group have commented widely on their skepticism about Infinium and on blogs. Additionally websites devoted to exposing the Infinium scam have been created. The term "vaporware" signifying technology which is promised but never delivered has been attributed to Infinium's Phantom technology by these gaming aficionados. CEO Timothy Roberts, who saw early success before the tech bubble burst and was promoted (self?) as some kind of business guru, lost tens of millions of investor dollars while living large at their expense in a series of high profile failures. Roberts also demonstrated a lack of appreciation for the First Amendment as litigation followed a revealing article about him on a trade website. Infinium just surrendered this month to HardOCP who stood their ground against Roberts and won. our-street.com