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Phil Adam, CEO Intelligencesent a message to customers waiting for the delivery of the company’s Amico game console.
He thanked the people for their patience and said that after taking over as CEO from founder Tommy Tallarico (who was on sick leave), he said he had to make some tough decisions to ensure the company could start a new business. quality product.
He said he stopped investing in StartEngine a few weeks after it launched in February this year. The original schedule was supposed to start in October 2020, but the pandemic put an end to this plan and Intellivision has been trying to adapt since then.
“Without seeing better our path to profitability, we felt it was the right decision in the short term,” Adam said. “Any funds made by StartEngine investors as part of the campaign have been fully refunded. Of course, this required us to take other financial measures to compensate for the expected new investment. ”
He said the company had drastically curbed operating costs and, unfortunately, demanded a significant reduction in staff.
“Our resources are focused on engineering and testing to ensure we have a quality system, because we can’t succeed by producing fewer products,” he said.
The company began working with game development partners to license classic Intellivision intellectual property (IP) for publication on other platforms. These license agreements will help finance Amico’s sustainable development, Adam said.
He said the wider adoption of Intellivision’s classic IP will help raise awareness about Intellivision, while not competing directly with Amico due to Amico’s unique controllers and family-oriented game adaptations.
“Many people in the retro gaming community have accepted us because we care about our family and all our games (including retro titles) are adapted for group play. While Amico’s extensive catalog continues to cover retro headlines, our mission has been and will continue to be intergenerational, at home, family fun, ”Adam said.
The company has begun trial production of Amico, which combines all aspects of the product, including packaging. This is primarily an assessment of the production approach and the overall quality of the delivered product.
“It is important to show our existing / future investors, partners and clients that we have built a healthy platform that provides a family experience at home, which requires us to immediately focus on value engineering and strengthening the platform. These sections should be completed in the next few weeks, ”said Adam.
Meanwhile, the company is slowly processing return requests.
“Over the past few months, public uncertainty over our status has led to a steady stream of requests to return pre-orders. “Our responses to these inquiries were delayed due to reduced staffing and financial requirements for sustainability.” “Make sure we intend to fulfill all return requests. We will devote part of all new funding and working time to eliminating the payback queue, while also focusing on financing and completing a quality product that is ready for production. “
Inquiries for refunds can be sent to firstname.lastname@example.org.
According to him, the company will focus on initial mass production, fulfilling initial orders and supplying two major distribution partners. Until the cost structure can support the margins required for retail channels, the focus will remain on direct orders.
“Obviously, markets continue to be volatile with rising inflation, rising energy costs and supply chain problems affecting all manufacturing enterprises,” Adam said. “It affected both our costs and our prices, and it required us to narrow down our initial distribution strategy. We hope that this year we will start shipping production units. The business faces many challenges, and we appreciate our investors, partners and customers for your patience and support. ”
He said the company will soon officially announce some new IP license partnership deals, as well as showcase Amico units currently in production. These sections will be shared with partners, investors and a number of selected individuals in the media.
“When there are more production units, we will expand distribution to media outlets that cover our target demographic situation,” Adam said.
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