Lil’ Tommy’s been demoted so the company can be dismantled:
OUCH. I seriously did not see that coming. I’d have thought TT had an iron grip on his CEO position and could not be challenged.
There’s no board to speak of and Tommy controls most of the company still so this wasn’t any sort of coup.
Intellivision LLC didn’t pay its corporate taxes and is FTB Suspended.
Part of their new fund-raising effort then. Make what looks like a good faith effort to breathe new life into the company as they beg for more money.
The “new” CEO continues the fine tradition of going on D-list parasocial YouTuber “friends of Tommy” channels to deliver Amico updates. Sounds totally like something a real CEO would do when wanting to sell a product to millions to recoup the money investors spent on them and not a grifting scam lining their own pockets with no intention to ship!
Even grifters need to pay the tax man!
Looks like they’re raising the price of the console some more. Value!
Following the failed/shitty IndieGoGo/Kickstarter playbook! Raise prices, squeeze out a handful of units, claim you tried your best but were foiled by COVID-19 and close up shop taking all the money!
For real? Where’d you see this?
The RetroSlo video right now where Phil Adam just claimed “preorders are lucky to lock-in their price”
https://www.youtube.com/watch?v=4Jc_tDeswjU
I wouldn’t normally dignify these parasocial losers’ circlejerk but you asked!
23:00? mark sounds pretty damning there will hardly be any units shipped for quite some time. I’m guessing they hand-build 100-250 units to be able to say “see, we shipped!”, while everyone else has to wait til Q3/Q4 for their units… or infinity if they don’t dig up more money.
It’s still live/going and I stopped watching or else I’d vomit. Their garbage shovelware games are going up in price too.
I’d really love to know more about this “$150 million line of manufacturing credit” they have. Who in their right mind would let them run up $150 million dollars?
That was only valid with ARK manufacturing factory Tommy repeatedly claimed he was days away from going to their factory to “get production started” - he bragged about this many times on AtariAge and after they announced a different factory partnership, the line of credit evaporated
This was summer 2021 where he only “needed 1 more part” - the factory changed names when he pitched the “90% done” (tonight Phil let on their OS isn’t even done) games for the Fundable …which remains open still waiting for more suckers.
You’ll note even the “new” CEO lets Tommy’s friends know first before investors.
Holy crap.
the producers tada~
Great thread. Sounds like the Amico is toast after the pre-orders are fulfilled. You can’t raise prices on the console and games for what’s essentially free on your phone.
They don’t have a third party publishing system for games though. So forget making money making games to a few dozen released systems. Their sucker investors won’t even make any money on that initial batch. So much for “10X returns!” promised by Tommy and Neil Patel.
Looks like four out of five are suspended.
Should be easy to get them reinstated, I’ve done that before for some clients. Could be really bad news if they’re doing business under these LLCs and don’t get them reinstated though, especially if the company does eventually go belly up.