PDA

View Full Version : More woes for Gizmondo UPDATE!


RobertoOrtiz
01-18-2006, 11:32 PM
Quote:

""Parent company Tiger gets an extension on shareholder loans as coffers run dry, bemoans "severe financial pressures."
The creditors are starting to come knocking on Tiger Telematics' door, but the Gizmondo maker's not quite ready for them, according to its latest filing with the Securities and Exchange Commission.

In the filing, Tiger admitted that its "Gizmondo Europe subsidiary has experienced severe financial pressures from various vendors as its cash flow has been unable to service the requirements. This has in part been aggravated by a lack of investor funding. The company has been actively negotiating for further funds from debt and equity sources to assist the cash flow needs of Gizmondo Europe but there can be no assurances that this will be achieved." "


>>LINK<< (http://www.gamespot.com/news/6142505.html)

-R

RobertoOrtiz
02-24-2006, 05:53 AM
Stefan Eriksson had hoped that millions of video gamers would experience the thrill of street racing on a hand-held device he helped develop. But then Eriksson's $1-million Ferrari was totaled, an accident that gamers around the world may see as a cruel metaphor for the collapse of the portable console company.

Eriksson was a top executive for Gizmondo, a European video game system maker that two years ago garnered international headlines by challenging Sony and Nintendo with its own PSP-like device.Eriksson received a $100,000 car allowance from the firm, according to records from the Securities and Exchange Commission, and drove in Le Mans, the famous French motor race, in a Ferrari plastered with Gizmondo signs.

The game company launched last year with a gala in London that included a performance by the pop star Sting. One of the firm's games, Chicane, involved exotic car racing.

But on the eve of Gizmondo's U.S. launch last fall, Eriksson resigned from the firm while in Los Angeles to market the device. His resignation came days before a Swedish newspaper alleged that Eriksson had been convicted of counterfeiting in the Scandinavian country in the early 1990s."

http://www.latimes.com/news/local/la-me-ferrari23feb23,0,1692414.story?coll=la-home-headlines

-R

RobertoOrtiz
04-10-2006, 07:14 PM
Quote:
" The Swedish video game entrepreneur involved in the 162-mph crash of a Ferrari has been arrested, accused of grand theft for an unauthorized collection of exotic cars, authorities said."

"Eriksson was an executive with Gizmondo, a European video game company that filed for bankruptcy."

http://news.yahoo.com/s/ap/20060410/ap_on_re_us/ferrari_crash

-R

DevilHacker
04-10-2006, 09:55 PM
Thats to bad...

The handheld was good, just had some bad corp. leaders, who really screwed the thing up.

quyeno
04-10-2006, 10:36 PM
yeah, too bad for gizmondo. with some decent management, it could have been great. but when it up against PSP and DS, it would be hard for them.

Per-Anders
04-10-2006, 10:55 PM
yeah, too bad for gizmondo. with some decent management, it could have been great. but when it up against PSP and DS, it would be hard for them.

From what's being said on the web the rumour is Gizmondo is just a front for massive corporate fraud and potentially even money laundering:

http://www.gamesindustry.biz/content_page.php?aid=12547

http://www.twitchguru.com/2006/02/04/fast_cars/

http://sfgate.com/cgi-bin/article.cgi?f=/c/a/2006/04/10/MNG0AI6L661.DTL

http://www.gamerevolution.com/static/index.php?section=feature&sub=gizmondo&page=index

Especially check the last link and the flowchart at the bottom.

Given this I think what it needed was to not exist in the first place.

LoTekK
04-10-2006, 11:01 PM
Christ, the guy had TWO Enzos?! :eek:

Nando
04-10-2006, 11:01 PM
ya, their E3 marketing was over shadowed by the hot girls they would hire every year.

Every year i would oogle the booth, but didn't know what the hell the product was that they were marketing. I bet ya neither did any one else.... ;)

Nando
04-11-2006, 12:25 AM
HIT and Myth (http://gizmondo.stu.ac/hitandmyth.wmv)

This game actually looks very fun, in a old school scrolling kinda way.

and this one is definitely interesting using the built in camera.
Catapult (http://www.gizmondoforums.com/videos/katapult_mix512K_Stream001.wmv)

I feel bad for the developers.

RockinAkin
04-11-2006, 12:52 AM
This entire story and background is just... unbelievable. :surprised

DevilHacker
04-11-2006, 01:27 AM
HIT and Myth (http://gizmondo.stu.ac/hitandmyth.wmv)

This game actually looks very fun, in a old school scrolling kinda way.

and this one is definitely interesting using the built in camera.
Catapult (http://www.gizmondoforums.com/videos/katapult_mix512K_Stream001.wmv)

I feel bad for the developers.Ya. I agree.
Its too bad. I almost wish that another larger company with some good management skills would come in an buy the rights, ect. and due this console right.

Who knows, maybe Microsoft’s upcoming handheld will have some of the same specs, and some of the games can be shifted over to that platform.



PS: Catapult (http://www.gizmondoforums.com/videos/katapult_mix512K_Stream001.wmv) looks bad-ass! defiantly more original than anything Microsoft, Nintendo, and Sony has been pumping out….

EdHarriss
04-11-2006, 03:32 PM
This entire story and background is just... unbelievable. :surprised

- It really is... read this: http://www.wreckedexotics.com/special/enzo
- How people get this way, I just don't know.

CGTalk Moderation
04-11-2006, 03:32 PM
This thread has been automatically closed as it remained inactive for 12 months. If you wish to continue the discussion, please create a new thread in the appropriate forum.