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Intellivision CEO Tommy Tallarico Transitioning to Intellivision President

Kdad

Kdad

Member
www.gameinformer.com

Tommy Tallarico Steps Down As Intellivision CEO

He'll remain the company's president, however.
www.gameinformer.com www.gameinformer.com

Intellivision Entertainment’s founder and CEO Tommy Tallarico is stepping down from his position, IGN reports. Tallarico, best known as a prolific video game composer, purchased and relaunched Intellivision in 2018 to manufacture the Amico, a new console aimed at attracting more casual players that has had a troubled production cycle since it was announced nearly four years ago.

tommy_tallarico_intellivision_amico_trailer.jpg


Tallarico will remain with Intellivision, transitioning to the role of company president. He is also the company's largest shareholder. Chief revenue officer Phil Adam will replace him as CEO. A statement from Intellivision provided to IGN says the change was done “to better align its resources with those new challenges" regarding the Amico's development.

"As a 30+ year industry executive, I am excited to transition into the CEO role at Intellivision," Phil Adams says in the statement. "As a business closing in on the last phase before launch, Tommy felt it important to provide focused roles so he can continue to do the things he loves the most. As always, we will be working hand in hand to bring Amico to the market."
 
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D

DonkeyPunchJr

World’s Biggest Weeb
I still remember this guy giving Bomberman 64 a thumbs down and refusing to play it because it was too cartoony, back when he had that show on G4. I blame him for the edgy 360 Bomberman reboot.

Good luck with the vajajay, Tommy!
 
S

SegaShack

Member
MrA said:
yeah they're trying to make a product that only appeals to a tiny niche and making that viable is really really hard (I am personally quite excited for it, but recognize that I am a super specific niche)
Click to expand...
Im part of that niche too to be honest. The cost as well as Tommys antics have turned me away. I'm sure its stressful to run a business though.
 
Kdad

Kdad

Member
BigBooper said:
Does that kind of change even have any practical effect? He's still gonna be the mouthpiece.
Click to expand...
Yeah...but CEO will be the one managing..perhaps Tommy realized he doesn't have the chops to push this to the goal line and is better off being the mouthpiece on someone else's plan?
 
thicc_girls_are_teh_best

thicc_girls_are_teh_best

Member
bender said:
T3.gif
Click to expand...

Damn she might be a bigger freak than him xD

TexMex said:
Trans puns aside the guy was really awesome in the 16-32 bit era. Especially when he and David Perry were doing stuff like MDK and Earthworm Jim. I think they were also together for one of my favorite underrated PS1 games - Wild 9.

Also - anyone remember this?

maxresdefault.jpg


Shit was so good. Incredible animation too.
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Absolutely; rented it from Blockbuster as a kid (which basically means my mom rented it for me). It was surprisingly good, almost want to try playing it again sometime. McDonald's had some pretty good gaming rep back then between this and Treasure's Ronald McDonald game.
 
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thicc_girls_are_teh_best

thicc_girls_are_teh_best

Member
bender said:
She was there for the paycheck and didn't use the money to try and revive Intellivision. Doubt.
Click to expand...

Good point; she's not a tool. Automatic step up from current-year Tommy.

Doubt this change in leadership does much for the Amico, I'm just holding out that the Earthworm Jim game is finished and good. EJ deserves more love.
 
Clear

Clear

CliffyB's Cock Holster
Component shortages are likely to kill Amico from the get-go, I think. Which is a bit of a shame really as it looked like a far more legitimate product than Ouya or the like.
 
NiiloPielinen

NiiloPielinen

Member
Copy-pasting their financial info from reddit:
As of last financial year-end they were $8.7m in debt with a $3.2m loss for the year and $428k cash on hand. They made $40k revenue in that year, and $136k the year before, so pre-orders and physical game sales have been, uh, not great.

The fundraising docs have a few more nuggets of info too:

  • RRP will be $250 to $350
  • Launch to start within 6 months.
  • Manufacturing 2,000 to 5,000 units per month.
  • Confirms all games will be NFTs.
  • Only 15 games at launch, including the 6 pack-ins.
  • Tommy is only on $96k (he got a raise in 2021), the rest is stock options.
  • John Alvarado got a paycut ($18k less) in 2021.
  • Many of the people used in their advertising are not employed by the company ($0) and only "work" 15 minutes per week.
  • Their Chief Marketing Officer is on $152k - what does this person do all day?
  • They paid $1.35m to Ark for manufacturing but they had a contract dispute and may not get it back.
  • Their auditor issued a "going concern" opinion with "substantial" doubts that they will succeed as a business and will be unable to continue beyond this year without additional financing.
  • They have $3.1m in loans from board members, and are paying 10% annual interest on a quarter of those (and $1.1m interest is accrued and unpaid), plus $1.6m in promissory notes at 5% interest.
  • They need a LOT more money, at least another $5m on top of the $5m they want from this - they will be doing another fundraise even if this one is successful (Reg D next time).
  • While Tommy is the largest shareholder, he does NOT own a majority - only 28.8%.
  • Tommy lied when he said there was tens of millions of dollars from big outside investors. The bulk of the money has been director loans and the crowdfunding, besides that there was $3.2m in convertible notes in 2021 (possibly the Republic funds?) and $3m in equity (the bulk of which was in mid 2019).
  • "Based on current fundraising strategies, it is estimated that the company can operate until July 2022 without generating any revenue."
  • Only planning to make 1 game every 2 weeks going forward.
  • They have prepaid some components and the board will offer a line of credit (terms undisclosed), and hoping to get some lines of credit from manufacturing contracts currently being negotiated.
  • Trying to raise $10m from venture capital firms (guessing this is what Delaware was about - sounds like a buyout), which is the amount they need to successfully launch.
  • "If no other sources of capital are raised and if only the minimum [$10k] is raised as part of the CF offering the company would only have operating cash for one to two months."
  • If they raise $5m from this crowdfund, it would only "fund the company for approximately 7 to 9 months".
  • LOL Sudesh loaned them $675k on horrible terms - they need to pay him $100 PER AMICO SOLD (all the preorders!) until paid back, PLUS a $202k fee.
  • Heh their $30m company valuation is based on a 15x ROI.
  • Up to Oct 2021 $9.5m was spent on R&D (h/w + s/w) Edit: $6.2 was game dev.
  • If they raise $5m+ they plan to spend 32% of it on R&D for the firmware and OS! Only 18% on Marketing - so much for Tommy's $10m marketing plan.
  • If I'm reading it correctly, they have 5,400 preorders ($540k in deferred revenue of $100 per preorder).
 
MAtgS

MAtgS

Member
DonkeyPunchJr said:
I still remember this guy giving Bomberman 64 a thumbs down and refusing to play it because it was too cartoony, back when he had that show on G4. I blame him for the edgy 360 Bomberman reboot.

Good luck with the vajajay, Tommy!
Click to expand...
And now he shits on Nintendo for having "rape games" on Switch.
 
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