Gizmondo Future Looks Bleak

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January 19th, 2006, 01:30 Posted By: wraggster

Gamespot reports that the company behind the Gizmondo handheld console, Tiger, is looking at some tough financial numbers. Mostly, it seems, brought on by poor sales of the console. From the article: "Gizmondo Europe subsidiary has experienced severe financial pressures from various vendors as its cash flow has been unable to service the requirements. This has in part been aggravated by a lack of investor funding. The company has been actively negotiating for further funds from debt and equity sources to assist the cash flow needs of Gizmondo Europe but there can be no assurances that this will be achieved

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