30000 ft view


The next steps for Phantom Entertianment are to continue operating towards our goals of building the company through the manufacture and sale of the Lapboard. The current status of PHEI with the SEC is the same as we stated previously; the SEC has halted trading and will move to revoke our registration without audited quarterly filings. I have a conference call with a judge in two weeks however the SEC has informed me that without having an auditor currently working of the filings they will continue with the process of revoking the registration. We are one of MANY companies the SEC have served and on the conference call there be several other defendants. Again as we stated earlier, we will operate with the goal of accumulating the necessary funds to refile our registration which will be considerably less than the individual filings currently needed. I have been told that when we refile for registration we would be able to keep the same share structure, which is what we intend to do. With previous lax SEC enforcement we thought we would be able to catch up with the filings at the end or beginning of next year however this is now not possible.

When I took over there was $0.00 in the company bank account with Terry paying company bills out of his pocket. We are doing the best we can, today Terry wired iOne the payment for the next Lapboard order with an estimated completion time of 10 weeks (yes, we know what happened last time) but they have built in discounts based on delivery time lapses at my request.

As of a few minutes ago Jim just called and told me trading opened on PHEI, I do not have any news at all from the SEC that they will stop the process to revoke registration. Please consult a securities attorney for advice before you invest any further money. Remember, when you purchase the stock you are sending your money to a bank and in the end the SEC actions benefit the banks not us, if we are delisted. The banks will not have to refund any money and considering the sheer volume of companies involved in this SEC action this could be another huge transfer of wealth. Again, as far as the SEC goes I am planning on the worst short term. The Lapboards should be in our warehouse sometime next week pending the Customs process which can take a few days.

We are planning of selling and shipping the Lapboard hopefully by the end of next week.
You will see a new area on the Phantom Website at that time.

John H. Landino

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33 Responses to “30000 ft view”

  1. Jim Hill Says:

    John, thanks for keeping us u-t-d. It’s more than was ever done before. We continue to keep the good thoughts and prayers for all concerned not the least of which is a selfish interest. Like many, Michael Pickens suckered us in for Thousand$. We’d like to see that back in our retirement account but would also like to see this innovative “system” come to fruit for all who enjoy the games, etc.
    Chin up and persevere.

  2. Steady as it goes, John. One step at a time. We’re in it for the long-haul
    : -).

  3. 55 Chevy Says:

    Thanks for the info. John. I already figured you were in a race to collect the money for the Q Reports. Unfortunately the timming was on the side of the S.E.C. at least for now. We all believe in you, and what you are trying to accomplish !!! We will come thru this together !!!

    God’s Speed
    55 Chevy

  4. kalelsfca Says:

    Hello John, Thank you for the update. I was wondering what you mean by “keeping the same share structure”? Does this mean my shares will be secured in my name if they revoke your registration or will I lose every share? Could you please elaborate. I have been vested with PHEI since 2004 and have been cost averaging my position until earlier this year. I would hate to think I’ve wasted so many years and several dollars on hopes and promises that will never be fulfilled.

  5. So when you say that when you reregister you will be able to keep the same share structure, does that mean that provided that I don’t sell out, my shares will still be intact upon reagining pink sheet status? Or will my investment me lost all together? Bottom line please.

  6. Scott (Calif) Says:

    Well, it is not normal to see no comment on this blog. I hope all the people who have been supporting this investment are not giving up on the dream of having a great product reaching the actual sales floor. Just give them some time to make sure the money gets to the right place and we all can start trading again. It dosen’t sound like the administration of Phantom Entertainment is giving up yet…

    I have a question for anybody – Are the Lapboards and mice from the ship going to Maingear for their units “which would be productive” or are the Lapboards going to be sold on the webpage only? Not sure how many Lapboards have made it to port for distribution?

    Anyway, good luck Phantom Entertainment.

  7. David Becken Says:

    Thank you for the posted update on Ihub. We all know the the SEC can be a bunch of troublesome people. It would be good if you could set up an email group to advise current shareholders as to latest developments. I would like to continue to invest in your company because I believe there is a bright future here. So, the moment this opens up to trading I will be adding to my current position. I tried late yesterday after the 1 trade went through, but had no luck. Please keep us all posted. David B.
    Salem, Oregon

  8. “they could file a voluntary form 15 and avoid the need for a SEC ordered revocation. It appears that this move would give them 90 days and another possible 60 to bring their filings up to date and possibly return to good standing with the SEC.”

  9. I’d like to encourage anybody who hasn’t already filed a complaint to the SEC to do so to make your voice heard. It’s good to see so much support for John and the team; they’re up against a LOT, and they’re still fighting! The company can pull through this, and I think we’re lucky to have John at the helm.

  10. Barry Fotheringham Says:

    I am just an investor since the first of the year. I saw a great possibility in the lapboard to become very succeessful. I have been watching the posts and see we have a liquidity and SEC problem. My question is if we wait to refile can you sell some stock and I am not sure if it is preferred or what. If you could sell 500,000 – 1,000,000 at $1.00 a share and pay 5% interest per year is that possible? They could be redeemed around five years and to sweeten the buyback somewhat, each year would have a 10% redemtion on the original price . $1.10 year one, $1.20 year two, etc. This would be in addition to the 5% interest. Our share holders probably would pick up a large portion of the stock. Sell in blocks of 100 shares only. No odd numbers.

    There must be some way to raise funds to get the lapboards in the pipeline. Trying to get outside funding would be very expensive but our current stockholders may be willing to fund it at a much better rate of interest to protect their investment.

    Just my thoughts with hope that it may start an idea.

    I know it is hard doing this and I thank all of you for your dedication. You won’t hear me faulting you.

  11. John
    Are you saying that if the SEC pulls PHEI off the board the stockholders lose their money or just the transactions that are being made since the stock was put oh hold?

  12. But, since so delinquent ifnfilings, we don’t have a leg to stand on do we?

  13. stock is not trading when the suspension was suppose to be lifted last week, lets face it. the sec is gonna wipe us out and i dont know what will happen or if they get relist the share structure will remain intact and our shares will be intact, its very frustrating to see this happen after all of these years waiting.it would be nice to hear some good news regarding the stock situation, the lapboards are one thing but to wipe us all out means the lapboards me nothing to us, im proud of john and all the work hes has done but reality is this is a not a good thing when sec is doing there thing, scumbags!

  14. The company states that they will not voluntarily delist from the pinks. I guess I would like a better explanation as to why it would not be a better option than additional enforcement actions by the SEC. What am I missing here?

    http://www.andrewskurth.com/pressroom-publications-126.html

  15. B-man (craig b) Says:

    In one post it say that u didnt know about the old reports, then in another post it says that u were trying to put it off till later. ???? Did i read it wrong?? Whats the correct one? I like how everyone is so positive, but face it, its oooooooo-verrrrrrr.

  16. jan lechner Says:

    John;
    I WENT THREW THIS WITH TITAN MOTORCYCLES ( EXACTLY THE SAME ONLY TOTALY DIFFERENT! ) I’VE GOT ALL THE FAITH IN THE WORLD IN YOU JOHN; BECAUSE I HAVE TO !! I AM HOPING YOU CAN GET US OUT OF THIS MESS. TITAN DIDN’T DO IT; MAYBE YOU CAN !!!

  17. joey1210 Says:

    We need to focus all of our energy behind John and what he is trying to do to save PHEI from the hands of the SEC. We have all made substantial investments in something we truly believe in. We can’t sit back and have it taken away. GET INVOLVED! Write the SEC. Ask your Congressional Representative what they can do to assist. I believe in this company and this product. The e-mail I received the other day from a representative at MainGear is very high on the Lapboard. “Our Ship Is Coming In” and it will be soon. Best of Luck John. STAY THE COURSE!!

  18. Please file a voluntary form 15 and avoid the need for a SEC ordered revocation. It appears that this move would give them 90 days and another possible 60 to bring their filings up to date and possibly return to good standing with the SEC.

  19. PS2INFORMANT Says:

    “but reality is this is a not a good thing when sec is doing there thing, scumbags!”

    AP Says

    While this may impede your efforts to see a return on what has been a shaky investment opportunity from the start the folks at the SEC are just doing their jobs.

    Just because the work they have to do conflicts with what you want doesn’t mean they are bad people for it.

    The folks running Infinium/Phantom now at least seem moderately composed, however their is no excuse for ignoring the issue of these late fillings and no way I can see that the company execs did not know what was going to happen.

    They were the ones not doing their jobs properly not the SEC.

  20. jan lechner Says:

    John;
    Where’s all the news ? Wha-Sup ? Does anybody know anything ?

  21. Looks like the delisting went through…

  22. Is ticker symbol PHEI an invalid ticker symbol now? I can’t get any info on this anymore.

  23. yareunot Says:

    Sure, many of us bought in under the old management and are now unhappy with the issues in the market, concerning Phantom. This is not a financial blog. The current management is graciously sharing with us, more information than they need too. Lets give them a break.

    If you have issues with what is going on with the SEC, hassle the old management that bankrupted the company. Don’t hassle the new guys who are actually working hard. The old guys took more than their share, while those who are working under the new Phantom Banner are giving above and beyond, with little to show financially. That goes for them just as much as it goes for us.

    You all knew that OB and PK investments were risky, before buying into Phantom. It’s true that most of us were duped by the old management and probably that fax blast scheme from 3+ years ago. That’s all done and over with. The current management is /trying/ to recover from the mistakes that others knowingly or unknowingly made.

    Lets give these guys a break. Personal accountability starts with us as individuals. While it seems the old management may not have had much of that virtue, among others… I feel it’s safe to say that the new management isn’t lacking in that virtue, nor in patience or grace. How else would the new management and workers of Phantom be able to hold the course at this time.

    We need to hold fast and take a page from John and his team’s book… Lets be patient and show them some grace. They need it.

    John, if I could, I’d buy you and your team lunch, and a beer. You guys deserve it.

  24. legs1816 Says:

    Well I can no longer invest in a company I can no longer trust

  25. SWEET LENNY Says:

    The ticker’s gone!!! Phantom is cleared off the map from all my searches! Is this
    the end John??

  26. Well, if the lapboard’s a hit like we all hope, then it should sell well enough to get some revenue coming in, then PHEI can relist. Everything was dependent on the lapboard doing well anyway.

  27. Guys, (and Legs) I hope you’re a girl….quit your crying, it’s hurting my ears. It’s always the ones that want to get rich without doing anything that cry the most. It’s was a gamble yes, is it over, who knows. I say John has earned the right for patience. If it works out, it works out. If it doesn’t then go find some other long shot that you want to gamble on to get rich without doing anything! Sure maybe we lost some money, maybe not. If it was going to backrupt you you were a fool to invest in the first place. Give it time, but please, quit the crying!

  28. No LENNY, This isn’t over. They have a plan in place to bring this ticker symbol back.

  29. As they return to filing status, the current existing shareholder base, I believe will still remain fully intact. ala’ company integrity and commitment.

  30. how do i invest 250,000?

  31. Thank you Geegas and GraigD…..

    Kev

  32. kevin4117 Says:

    What is the latest with the SEC and Phantom Entertainment? What is the timing of Phei.pk being publicly traded again?

  33. When and )IF) it does will I be retain the same amount of shares I had before?

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