Poor, unloved Gizmondo. From the company's inexplicable no-show at CES and a lawsuit from one of its own developers to mafia-connected dudes on Gizmondo salary and pushing back its handheld in the US, the company has done everything possible to eff things up. And things are starting to catch up with them. The London-based Gizmondo Europe is broke, and is trying to secure a $5 million short-term loan until it can secure a planned $75 million in refinancing. That, my friends, will be used to pay off the short-term loan as well as the $21 million in overdue shareholder loans. Word of advice: Quit while you're ahead.

Full Story [GameSpot] Thanks Randy!

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