Former St. Louisan Timothy M. Roberts   has resigned from the board of Phantom Entertainment,  a  video-game-equipment company that he co-founded.

Phantom, formerly known as Infinium Labs, was originally supposed to be inventing a whole new game system, but it later focused its attention on something called the “Phantom Wireless Lapboard and Laser Mouse.” Its finances are a mess: It lost $393,127 in the first quarter and $4.45 million last year, and a recent Form 10Q  reports a working capital deficit of $15 million.

Roberts apparently sold his entire stake in Phantom in February, and his timing was good: He sold his shares  for 1.8 cents apiece, and they’re now down to .06 cents. (That’s right, six one-hundredths of a cent. It’s what one former colleague used to call a drill-bit stock price.) The shares were recently delisted from the OTC Bulletin Board and now trade on the Pink Sheets.

Roberts’ tenure at Phantom included a run-in with the SEC, but the company professes to be sorry to see him go. “We will miss Tim’s counsel and insightful views on the direction of technology and we wish him well with his new endeavors,” CEO Greg Koler says in the news release.

What are those new endeavors? Roberts says only, “I have an exciting new opportunity that requires my full attention so it’s time to move on.”

In St. Louis, Roberts is best known for a previous endeavor, Broadband Investment Group.  That Internet company that spent lavishly on private jets and race-car sponsorships before it failed in 2000.