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Infinium Labs Announces Update on the Filing of Its 2005 Annual Report on Form 10-KSB

Infinium Labs Announces Update on the Filing of Its 2005 Annual Report on Form 10-KSB

SEATTLE, April 17 /PRNewswire-FirstCall/ -- Infinium Labs, Inc. (BULLETIN BOARD: IFLB) today announced that it will miss the extended deadline of April 17, 2006 for the filing of its 2005 Annual Report on Form 10-KSB with the U.S. Securities and Exchange Commission (SEC). As was previously reported in the notice filed by Infinium Labs with the SEC on March 31, 2006, the filing of the 2005 Annual Report has been delayed due to an ongoing audit of the Company's 2005 fiscal year.

"We expect the Company's 2005 audit will be completed and our 2005 Annual Report on Form 10-KSB will be filed within the next 30 days," stated Greg Koler, Infinium Labs' CEO and President.

The delay in filing of Infinium Labs' Annual Report for 2005 may cause the NASDAQ Capital Market to adjust Infinium Labs' trading symbol from "IFLB" to "IFLBE" to signify that the delayed filing has caused Infinium Labs to be added to the list of companies that are not in compliance with the continued listing requirements of the NASDAQ Capital Market.

About Infinium Labs

Infinium Labs (BULLETIN BOARD: IFLB) is in development of The Phantom Game Service, anticipated to be the first end-to-end, on-demand game service for delivery to the living room. Delivered over broadband, the Phantom Game Service is designed to offer casual and avid gamers a broad library of titles, available anytime, day or night. For more information, please visit http://www.phantom.net/.

PR contact: [email protected] Safe Harbor Statement

Certain statements included in this press release may constitute forward- looking statements. Actual results could differ materially from such statements expressed or implied herein as a result of a variety of factors including, but not limited to: the development of the Infinium Labs technology, ability to secure additional financing, the successful marketing and distribution of the Phantom Game Service, acceptance by the market of Infinium Labs' products and technology, competition and timing of projects and trends in the gaming industry, as well as other factors expressed from time to time in filings Infinium Labs will make with the Securities and Exchange Commission (the "SEC"). As a result, this press release should be read in conjunction with periodic filings Infinium Labs makes with the SEC. The forward-looking statements contained herein are made only as of the date of this press release, and Infinium Labs undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

This release was issued through eReleases(TM). For more information, visit http://www.ereleases.com/.

Infinium Labs, Inc.

CONTACT: Infinium Labs PR contact, [email protected]

Web site: http://www.phantom.net/

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