Some have asked about the plans for the Phantom Game Service and Phantom Entertainment’s involvement:
Here are some answers for you.
Unless Phantom Entertainment, Inc. receives a better offer by September 15, 2008, Phantom Entertainment, Inc. will be selling the assets associated with the Phantom Game Service to Phantom Game Service, Inc. on September 15, 2008.
Per the terms of the Asset Purchase Agreement, Phantom Entertainment, Inc. will initially be acquiring 49% ownership in Phantom Game Service, Inc. and will also receive 7% of the annual gross revenue from Phantom Game Service, Inc.’s online game sales through the Phantom Game Service software. Therefore, Phantom Entertainment, Inc. will retain a vested interest in the Phantom Game Service.
Here’s a link to the SEC’s Form 8-K disclosing this transaction:
And here’s a link to the actual Asset Purchase Agreement as filed with the SEC:
You would need to contact Phantom Game Service, Inc. directly for information on the company but, since it is a Delaware Corporation, you can look up Phantom Game Service, Inc. on the State of Delaware’s Division of Corporations website; here’s the link:
As quoted in the corresponding press release:
Pointing to the spirit of the agreement, John Landino, President and CEO of Phantom Entertainment, Inc., said: “This agreement is a win-win for all parties. It allows us to shed business segments that are not related to our core objective — the Phantom lapboard wireless keyboard, while giving us an immediate cash infusion as well as future revenue streams based on royalties. Phantom Game Service, Inc., in turn, receives an extremely valuable IP and trademark in a business segment that is poised for outstanding growth.”
Here’s a link to this press release:
If you have additional questions or concerns, please don’t hesitate to let us know.