Sarasota, Fla. – Nov. 30, 2004 – Infinium Labs, Inc. (OTC BB: IFLB) announced today
that it has reviewed the press release issued by SBI-USA, LLC, but has not received the
legal complaint purported to be filed by SBI. Infinium categorically denies each and
every allegation in the SBI press release and believes SBI’s lawsuit to be frivolous,
without merit, and intended to interfere with Infinium’s business and operations.
“This lawsuit is entirely without merit and SBI’s news release misstates the nowterminated
agreement between the parties as well as the amounts raised by the Company,
which are set forth in our public filings for the benefit of our investors. Infinium’s
agreement with SBI provided that SBI would be paid, under certain circumstances, for
investments made by parties with whom SBI had a pre-existing substantive relationship.
SBI was wholly unsuccessful in its efforts and was unable to raise any funding
whatsoever from such investors. As a result, Infinium terminated its agreement with
SBI,” said Timothy M. Roberts, Infinium’s CEO.
“The Company will vigorously defend itself from these meritless allegations, and will
consider all remedies available to it, including all counterclaims and causes of action
arising from the lawsuit and the issuance of this inaccurate and malicious news release,”