A message from the CEO


I want to thank everyone who has supported us and sent along their comments, questions and concerns. We have not posted much on the delivery times because the manufacturer has mad several promises to deliver which at the last minute where pulled away. The order is paid in full and we can only wait. Also, just so you know we still owe the manufacturer money for the development of the Lapboard. Yes, thats correct, they were never paid for the original contract to engineer the first samples and then tooling for production. The manufacturer has graciously allowed our current team a payment plan over the next 12 months (over 100K) while continuing to produce Lapboards. We cannot just “find a new manufacturer” as this would have a six figure price tag to just see a few handmade samples. In all fairness, they have every right to demand the engineering payment in full before they ship…but they did not. We owe them patience and gratitude right now.

We did not blow through the original investors money; its not baggage we will carry. Below is an excerpt from an email dated April 6th from the manufacturer. I am in constant contact with them and this is where we stand:

“The membrane will be ready on April 17, 2009, so we can finish the production within one week after April 17, 2009. I am very sure this time the schedule is confirmed. Due to the old membrane doesn’t have the ability to produce it, finally we changed to another supplier to solve the problem.”

As far as posting finances, we will not do it without counsel approval. NASD investigators have called me and asked for some company documentation over two months ago. Everything checked out and there are no issues but it makes no sense to do something which might jeopardize our efforts. Not one (1) share has left the company treasury since we took over, rest assured. We have made one wire to the manufacturer and not on person on our team has been paid anything yet.

We are still slightly ahead of the technology curve for the Lapboard so as long as we do ship shortly…we have a chance to make an impact on the industry. I promise an update at the end of next week, just realize I cannot take their dates at face value yet. Hopefully this will change.

John Landino

Advertisements

22 Responses to “A message from the CEO”

  1. Now that’s what I call an informative, fair, non-misleading, well written and expressed update. I am filled with confidence. Thank you very much! See John that’s all we wanted an updated sorry for any five year penned up hostility that may have come forth in the last two weeks thanks again Ted

  2. John,

    Thanks so much for the post! We know you guys have a lot to deal with and I’m not at all surprised with what’s apparently happening on the manufacturing side. This stuff happens. I think all of us who visit the blog frequently and have followed you guys for years know the lapboard will have an incredible impact once it hits. Keep up the good work! We’re with you!

  3. Thank you John. Honest and straight-forward as usual. Much appreciated.

  4. Myself and im sure many other shareholders / posters appreciate your update very much. Keep up the good work and hopefully the update next week brings good news.

  5. John, thanks for the informative update. Hopefully, the next update will be equally nformative and may even have some good news about shipments.

  6. Thanks for the update Jim. I’ll keep my fingers crossed that the product ends up in your hands in the near future. I’ve been waiting since the Infinium days, so at this point I’m in it til the “end game”.

  7. thanks for the honesty. your style of leadership is what this company desparately needed. Honesty, no matter how good/bad it might be. Hopefully the manufacturer will keep their word and get the thing rolling off the presses on the 17th. Wow! so close! the anticipation is killing me.

  8. Craig A D Says:

    As usual, John, you know how to put things in perspective for us.

    Thanks again,
    CraigD

  9. Thank you Jim. Is there any way that you can give us an idea of the kind of volume you’re expecting to have shipped?

  10. 55 Chevy Says:

    “DITTO” to all the previous posts !!! Excitement fills the air !!! It won’t be long now for the really good news !!! I hope its in your plans to market the lapboard in the really big name stores like Radio Shack, Best Buy, and Sears, when that happens sales will soar, and so will the stock price !!! Good to hear everyone so positive and excited.

    GLTA Gooooooo Phantom !!!

  11. Richard Inyo Says:

    I must congratulate you on providing shareholders with a response that addresses our concerns. Shareholders put their hard earned money into this project because we confidence in the products and service that will be marketed, but also because we believe in the leadership within the company. Every project as a beginning. Although Phantom had a rocky start and a change in the original plan, producing the website and now an actual product mark the true beginning for this business.

  12. Thank you kindly for the update… GO PHANTOM!!!

    Kev

  13. Anna Balsamo Says:

    That is great news….Thanks for keep us informed..

  14. Thank you for your straight-forward and frank replies.

  15. Thank you for your straight-forward and frank replies.

  16. siggywiggy Says:

    thanks john for the update. I think we are all glad to see you trying soo hard and doing everything possible one man can do to get the lapboard into the consumers hands. “in it until the end”

  17. Excellent gamasutra interview w/ Kevin Bachus on old Infinum/Phantom:
    http://www.gamasutra.com/php-bin/news_index.php?story=22587

    K.B. gets involved in the comments section as well. Good stuff.

    …I’m still rooting for the console 😉 Hope we see it someday. Phantom could set up the hardware to use GameStreamer’s service. It would be like iTunes + iPod. Ok, ok, I’m done trolling for the console… for now, heh heh.

  18. Hey pheadbaq, thanks for the link. KB was why I signed up in the first place. Good info…….between the lines I believe PHEI investors will eventually get rewarded for their patience.

  19. What happened to the blog visitor count? Was over 72,000 and now 46,000.

  20. update, update

  21. Any update to report sin the 15th? Status of delivery? Thank you.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: