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Ever wondered what happened to...Gizmondo?

Gizmondo gadget hits the shelves
http://news.bbc.co.uk/1/hi/technology/4361847.stm
You might have heard of it here, or seen it in the Argos catalogue in 2005. But a short year later...
They touted a a load of games in development, features to be added, but ultimately nothing happened.


Gizmondo - Inside The Eye Of The Tiger
http://www.gamesetwatch.com/2006/12/gizmondo_inside_the_eye_of_the.php
"...the whole thing was a front for the swedish mafia to launder money. freer, erikkson are both goons from sweden who have been in and out of jail for years in Europe but happen to have a knack for shady finance"

"Microsoft Game Studios were signing deals with Gizmondo and were apparently happy to be associated with them, apparently without researching the company's history or plans."

If this indeed was true, though, it would be yet another coup for a company who has successfully raised tens of millions of dollars in capital, and has now partnered with some of the biggest publishers and hardware. This in itself, is a major success. Indeed, as well as this, Tiger Telematics' share price is currently hovering just over $30, giving the company, which has around 38 million shares, a market capitalization of over $1 billion, and making many of its employees paper multi-millionaries - extremely impressive for a company with no revenues, no launched products, and an unfortunate past.



Gizmondo - The firm that blew it all in two years
http://www.timesonline.co.uk/article/0,,2095-2189659,00.html
"The huge question remains: where did all Gizmondo’s money go? Liquidators are investigating payments of millions of pounds to other companies from which Gizmondo seems to have received little in return.

These include £2m paid under a licensing deal with a British company, Game Factory Publishing. Insiders said no games were ever developed and handed over to Gizmondo. Yet when nothing appeared from Game Factory, only part of the money was refunded. "


---
The story is pretty unbelievable if you take the time to read it.
I'm just happy I chose to get a Nintendo DS, and later a DS Lite.

What I have learnt from this article:
Never purchase from companies that:
-Hold big regent street bashes at product launch and claim 500,000 people have registered interest in a product, when in actuality it is closer to 50 people
-Have directors on million pound bonuses whilst the company is not making a profit and spending money like it was water.
-Have directors who drive more than one Ferrari Enzo (In different Colors too)
-Release 70% of company shares quicker than you can say Gizmondo
 
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