Intellivision closes Amico fundraiser ahead of schedule

The Intellivision Amico, a console that aims to revive a historic gaming brand and tap into the home market, has had a tough few years due to constant delays and doubts about its feasibility and marketability.

Originally slated for October 2020, it’s been delayed three times and currently has no firm release date – a recent SEC filing also highlighted some key issues for the company, indicated ongoing issues with the manufacturing and a forecast suggesting the business may not be able to operate beyond July.

Now, as Ars Technica tech culture editor Sam Machkovech pointed out, Intellivision has prematurely ended a fundraising campaign it ran. Start the engine. It’s a website/company that helps businesses raise capital by selling stocks, with the argument being that it’s a platform for investors of all sizes to learn about new products and businesses. Although it only launched in early February, the Intellivision run ended on February 28, raising $58,001 from 54 investors, well below the “maximum bid” of $5 million.

Closing the account when Intellivision did was in line with platform rules – deals must be open for at least 21 days, which fair hit. Notably, when the total raised is less than $107,000 “the business owner can personally sign legal and financial documents”, without the need for “an outside CPA to verify your finances for the last two years”.

Sam Machkovech gave his assessment of the move.

We’ll be keeping an eye out for further Intellivision updates.

About Jason Zeitler

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