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Is the Amico dead?

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29 minutes ago, IMBerzerk said:

Well ... Kick us all in the ass!!  Lol.  Anyone see this coming?? Not me!

 

Good for them.  I hope they stay on track and have gotten the managerial bugs worked out as well.  

 

John makes for a great presentation man.  Calm, relaxed voice ... And a marketable look.  

 

The new Dealer from LV Blackjackn & Poker.  Lol. 

 

 

I couldn't believe my eyes!  I'll bet a certain YouTuber who denounced this a few days ago is probably crawling into a hole about now! 😄

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25 minutes ago, SegaSnatcher said:

It's great they showed something, but this might have been filmed before the last crowdfunding campaign tanked.   With so many people asking questions and losing faith during the "Quiet Period" maybe they released that video to calm nerves. 

I wouldn’t be surprised if that’s exactly why. 

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45 minutes ago, atarifan88 said:

I couldn't believe my eyes!  I'll bet a certain YouTuber who denounced this a few days ago is probably crawling into a hole about now! 😄

 

Found the video!

 

 

 

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1 hour ago, MadBomber said:

Wow, they made a box.

😃👍

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It was not a production unit - it was literally one of the prototypes in a box they put together. 

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Even more interesting in finding out what is the real reason for all the delays, it can't just be "we need another 5M to 10M" as everyone and his/her sister can claim as much on any venture.

 

The box is ready, the console seems alright, wonder what's unfinished to take the risk and tank the whole nine yards?

The Coleco Chameleon never was anything more than a SNES-in-a-Jag but this one seems "functional" .... how far off is it really to be sellable?

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It never launched, so it's never been alive for it to be dead, the only thing Amico was from the start was hopes and dreams, and visions and missions that went nowhere.

The longer Amico keeps going the more it looks bad (targeting investors and not 'the real marketing'), saying that, I hope it goes to market, if it doesn't, I can bet others will come in, to try and fill the 'family friendly "gaping hole" in the video game industry'

 

TT promised us a journey... that's all Amico has been for me... and that's not dead lol

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56 minutes ago, Lost Monkey said:

It was not a production unit - it was literally one of the prototypes in a box they put together. 

Hopefully they send me one of those!💰

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1 minute ago, wolfy62 said:

Hopefully they send me one of those!💰

Sorry, it's just that one and it's apparently going to Europe.

 

 ..Al

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Just now, Albert said:

Sorry, it's just that one and it's apparently going to Europe.

 

 ..Al

But that's not where Cmart lives!!!

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I feel particularly sorry for the Bavarian government.

 

All that money they pumped into this and they get less of a return than they did with Uwe Boll movies. 😄

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3 hours ago, atarifan88 said:

I couldn't believe my eyes!  I'll bet a certain YouTuber who denounced this a few days ago is probably crawling into a hole about now! 😄

If they showed thousands of them rolling off an assembly line, then it might be time for a little mild crowing.

 

Still, I give them credit for making a nice little preview video.   

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3 hours ago, Lathe26 said:

 

Found the video!

 

 

 

That video is absolutely terrifying. :skull:

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For your consideration from the unboxing video guy. For the record I have always said none of these unboxing videos matter until one is done by a backer or consumer, until then it's still just marketing......

 

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2 hours ago, phoenixdownita said:

Even more interesting in finding out what is the real reason for all the delays, it can't just be "we need another 5M to 10M" as everyone and his/her sister can claim as much on any venture.

The 'real' reason for all the delays? Needing 5 to 10 million dollars to kick off production isn't a trivial problem. All the nay sayers declaring the Amico dead are just expressing their opinion. It hasn't been cancelled. I find it highly unlikely that they won't be able to find an investor to bring out a finished console. 

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15 minutes ago, Games For Your Intellivision said:

I find it highly unlikely that they won't be able to find an investor to bring out a finished console

Maybe a visit the Shark Tank is needed. 

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25 minutes ago, OldSchoolRetroGamer said:

For your consideration from the unboxing video guy. For the record I have always said none of these unboxing videos matter until one is done by a backer or consumer, until then it's still just marketing......

 

275693599_637376367564432_1913284484032200426_n.thumb.png.f3ec8889e8b7d713027af5f1132e85c3.png

If they can assemble consoles in-house, why didn’t they budget in a team to assemble pre-orders there, and then switch over to a manufacturer later?

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You know, someone who is unfamiliar with their shenanigans that watched their unboxing video, would automatically assume these consoles are already being manufactured. It’s quite deceiving actually. 

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55 minutes ago, ColecoGamer said:

You know, someone who is unfamiliar with their shenanigans that watched their unboxing video, would automatically assume these consoles are already being manufactured. It’s quite deceiving actually. 


 

9F44D192-7796-4689-8A3B-6EBD3C741F5B.jpeg

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1 hour ago, ColecoGamer said:

You know, someone who is unfamiliar with their shenanigans that watched their unboxing video, would automatically assume these consoles are already being manufactured. It’s quite deceiving actually. 

That is my main issue with this video.  For those just coming in and don't know about INTV's current financial situation they would assume this console is getting close to release when its clearly not. 

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Going by the SEC filing, Intellivision does not have parts to manufacture systems, nor the funds to purchase them.  The SEC filing indicates that Ark electronics had the parts but that they were most likely gone due to some kind of contractual breach or issue.  Even if they did have money to procure them, parts are simply not going to be available at all until 2023.  A lot of things are looking at a 30, 40, 50, 60 and even 70 week lead time, meaning if you place an order today, it could be over a year before you get them.

 

Also in the SEC filing, it talks about how $100 of every amico sold goes to one of the members of the board to repay a loan that Intellivision was given.  It sounds like they are going to lose a lot of money on every unit sold until this loan is paid back (around 6700 units).  So even if preorders are made and sold, Intellivision will have actually lost money.

 

This same filing lays out how dire the company's finances are, too.  They will basically be out of money soon without a fresh cash injection.    Also eyeopening was the payday-like loan rates the company's own board members lent the company funds.   The rate was 1.5% the first month, 2% the second month, and 2.5% each month after this.  This is compounding interest, so after 1 year the total interest rate is around 32% and 78% after two years if I did my math right.  It was later capped at 10% per annum after massive interest charges already had racked up.

 

The filing can be read here on the SEC's site:

 

https://www.sec.gov/Archives/edgar/data/1909726/000166516022000236/offeringmemoformc.pdf

 

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You know, they could probably cover some of their costs by releasing some of their stuff on the Switch... you know, just until they actually release their own system.  Any day now.

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