This is now a full-on mess. Tommy has stepped down as CEO though remains with the company. Phil Adam, the poor bloke roped into the Coleco Chameleon, is now in charge of this train wreck. They are seeking $5 million in funds from StartEngine, which is still not enough. They also seek $5 million from a "Regulation D model," whatever that is. The company cannot explain $1.35 million paid to Chinese manufacturer Ark Electronics USA, which never delivered hardware. They owe some investor $800K, due end of last year, which already would have been a $100 sunk cost on every unit they sold. Long term debt is over $7 million, and they recently floated selling games as NFT's to which people's heads exploded. Tommy ripped Atari Age members, and the Amico forum was abruptly removed nearly 2 months ago. They also re-incorporated to Delaware, I presume in advance of a bankruptcy filing as the courts are more lenient there to companies.
https://www.ign.com/articles/intelli...ico-steps-down
https://arstechnica.com/gaming/2022/...ast-past-july/
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If they need more funds, maybe they can get Mike Kennedy as an investor? He has experience with console development and I'm sure he has plenty of free time now.
I'd say this shitbiscuit has a 15% chance of ever seeing the light of day.
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