The Intellivision was a home console in the 1980s that sold 3 million units. Tommy Tallarico, a video game composer, bought a stake in the company that owned the branding for Intellivision, and then in May 2018, announced a planned re-launch of the Intellivision (which would later be named the Amico). The console is planned to target families, and is setup to only allow family-friendly games in its library. Intellivision Entertainment is working with developers (including people who made games for the original Intellivision) to create games for the console. The Amico features touchscreen controllers that dock into the console itself for charging, and can be played using an app downloaded on phones. After initially facing supply chain issues because of the COVID-19 pandemic, the console has continued to see repeated delays, and has faced criticisms from some journalists. Things aren't looking good for the Intellivision Amico. In its most recent fundraising campaign, the company has embedded an SEC filing that details massive debt, suggesting that if more funds aren't accrued soon, Intellivision may cease to operate by July.
What does this filing mean for the Intellivision Amico?
When you check out the new fundraising campaign on StartEngine, you'll find that Intellivision is seeking $5 million to further fund its unfortunate console, but if you scroll down, you'll find an SEC listing that says There will be some very harmful information. That listing said Intellivision hasn't generated any revenue since its inception in 2018 and that the company is in long-term debt of about $7.2 million with a short-term debt obligation of about $1.2 million.
For information, let us tell you that the company is also in financial hot water related to its inability to recover about $1.35 million paid to Chinese manufacturing company Arc Electronics. According to an SEC filing, a "contract dispute" means Intelligence can never see that money again, nor can it recover components that Ark has already purchased on its behalf. When an angel investor Sudesh Aggarwal is paired with a loan worth $800,000, and interest accrues on other loans, it doesn't look good for the gaming company. If Intellivision doesn't raise the $5 million it asked for from its StartEngine campaign, it's in trouble, and even if it does, it won't be enough to keep the company operating beyond "about 7 to 9 months".
But the fact is that in its risk assessment, Intellivision acknowledges that a genuine Intellivision Amico console "could never be". If the company decides that the Amico launch will not be in the "best interest" of the company and its shareholders, the console may never be successful. Amico has already been delayed several times since its original announcement, so this won't be particularly welcome news for those still expecting the console to be delivered on time.
What is the Intellivision Amico?
In May 2018, Intellivision (later to be renamed Amico) announced a planned relaunch. The console is planned to target families, and is setup to allow only family-friendly games in its library. Intellivision Entertainment is working with developers (including people who made games for the original Intellivision) to create games for the console. It's a retro-style console that aims for simplicity and "plug and play" functionality above all else, pitching itself as a simple alternative to today's more complex gaming systems. Planned games for the system include a new Earthworm Jim title, which is also set to be a launch game for the Amico, as well as a new title from the Ecco the Dolphin development team, among others. Unfortunately, Tallarico has found himself in hot water when it comes to the Amico's purported lineup. Late last year, he showcased an Amico game either known as Tank Battle or Battle Tanks (name seemingly depending on whether Mercury is in retrograde), which was found to contain assets stolen or copied from various other titles.
But it's not yet clear whether the Intellivision Amico will ever actually materialize at this rate. Of course, that hasn't stopped Tallarico and Intellivision from selling games for it (yes, prior to the console's launch). Here's to hoping that Intellivision somehow manages to get out of this and release the Amico, though honestly, we're not sure whether the console will be worth all these delays and problems in the end. Stay tuned for more on this.
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