Infinium Labs Inc. (OTC BB:IFLB.OB - news), the long-secretive video-game company, on Monday took the wraps off of its Phantom gaming console and service, setting a Nov. 18 launch for the system designed to play conventional PC games on televisions.

Sarasota, Florida-based Infinium said its hardware would be free with a two-year subscription to its service or $199 without the subscription.

The announcement came at the start of E3, the annual video game industry trade show in Los Angeles.

Infinium executives hope that finally taking the wraps off the Phantom, and demonstrating a functional version of the service, would dispel doubts among some industry observers that the company can deliver on its planned offering.

"I know all too well the skepticism and the cynicism and the jokes and the rumors and all that stuff," Kevin Bachus, the president of Infinium, told Reuters recently.

Bachus, an industry veteran who once held a senior role on Microsoft Corp.'s (Nasdaq:MSFT - news) Xbox (news - web sites) team, was appointed in January.

The service, starting at $29.95 a month, will offer users certain basic content for free, and access to either buy premium games at prices comparable to regular retail or rent them, usually $5 for three days.