UPDATE: Guardian UK confirms that Gizmondo paid a sum of money to get the ‘exclusive’. More on this on Friday’s Monday’s episode.

Both Engadget and Gizmodo are reporting that they have the exclusive on what the next version of Apple’s iPhone will look like.

How did they get the source: They found it on a floor of a bar disguised as an iPhone 3GS.

Some details that will supposedly be in the next iPhone: a front-facing camera, flash for the camera, bigger display, and the phone will adapt the new mico-sim as used in the iPad.

The new micro-sim slot may have deleted all hopes that this phone will be heading to Verizon, if indeed true.

The internal schematics may be legit on the iPhone 4G but the design is not. The buttons on the side look more like elevator buttons instead of volume controls and the phone is horribly big; not thin, sexy and no buttons as Steve Jobs prefers his devices.

Now that the specs and possibly design of the new iPhone 4G are out, one has to wonder if the employee who dropped the phone has been terminated by Apple, especially since the company has a tight grip on controlling information.

But this isn’t the first time a product has been demoed at a bar; the Google Nexus One phone was demoed to several people at bars as well.

So if you want to see the latest gadget trends, head to the nearest bar near the campus of Apple and Google.

Gives new meaning to the joke, A Rabbi, a priest and a minister walk into a bar . . . .

Control Daily #20: iPhone 4G discovered in a bar