In a move that basically defines “rearranging the deck chairs on the Titanic,” Infinium Labs announced that they are changing their name to Phantom Entertainment, Inc, according to a report from Gamasutra. In various SEC filings from the company, it appears that troubles are still mounting for the beleaguered would-be console manufacturer. Things must be bad for the company, to switch their name to one that basically defines a vaporware product. Even since scaling back operations to just produce the Phantom lapboard, their high profile CEO, Kevin Bacchus quit the company and is now suing for back wages. In addition, SEC filings also indicate that operations for the upcoming 12 month period are at risk, and without a substantial increase in funding, the company faces folding operations. Tied to this announcement, the company would like to increase its available public shares, further driving down the stock valuation. Suddenly, the current CEO’s motivations to allegedly attempt to shore up the stock value become more clear.

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