"Contrary to rumours in the marketplace," said Carl Freer, co-founder and Chairman of Tiger Telemetrics, "we are not delaying the scheduled USA launch, we are committed to the October 22, 2005 release date, and the product will be available in all 50 states well in advance of the Christmas retail season."
The rumors exist because Gizmondo is $210 million in the hole just the last year, and gamers can't really wrap their heads around the viability of a new portable console entering a market crowded by PSPs, DSes, and GBAs. "Remember the N-Gage" is the mantra one would choose to chant, if one had to pick a mantra.
But Gizmondo remains staunch and unthwarted by such doubts. Not only is the US launch going ahead as planned, but two new retailers are lined up to sell Gizmondo in the UK: Play.com and Maplin.
Michael Carrender, CEO, Tiger Telematics, says: "Tiger Telematics is strategically well positioned in a rapidly growing mobile gaming industry. This has generated discussions that may or may not lead to a substantial corporate action or strategic opportunity."
At the bottom of the press release, there is, as usual, this caveat which we would do well to remember:
Investors are cautioned that these forward-looking statements reflect numerous assumptions and involve risks and uncertainties that may affect Tiger Telematics, Inc. and its subsidiary businesses and prospects and cause actual results to differ materially from these forward-looking statements. Among the factors that could cause actual results to differ are Tiger Telematics Inc.'s operating history; competition; low barriers to entry; reliance on strategic relationships; rapid technological changes; inability to complete transactions on favourable terms; the schedule and sell-through for new software release; consumer demand for video game hardware and software; the timing of the introduction of new generation competitive hardware systems, pricing changes by key vendors for hardware and software and the timing of any such changes, and the adequacy of supplies of new software product and those risks discussed in the Company's filings with the SEC.
In light of the risks and uncertainties inherent in the forward-looking statements, these statements should not be regarded as a representation by Tiger Telematics, Inc. or any other person that the projected results, objectives or plans will be achieved. Tiger Telematics, Inc. undertakes no obligation to revise or update the forward-looking statements to reflect events or circumstances after the date hereof.
That, my friends, is basically a way out in case none of this pans out.
