CNET News.com's David Becker reports that Indrema, which hoped to carve a niche in the lucrative video game industry with a console based on the Linux operating system, announced Wednesday that it is going out of business. Becker writes . . .

“John Gildred, founder and chief executive of the Alameda, Calif.-based start-up, said the company ran out of money and was unable to secure additional financing in a capital market that has grown hostile to Linux-related business.”

” 'It's just a terrible capital market to work in now, and it happens to come at the worst possible time for us,j' Gildred said. Indrema originally expected to have its L600 console on the market in the second quarter of this year.”

“Gildred said Indrema–which employed just under 50 people at its peak — laid off most of its staff last week.”

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