Electronic Game Card, Inc (fka EGMIQ)

[stonehenge]

I really think they cooked the books in a major way. It does have a LOT of simularities with the following case:

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=46901137

That company had analysts following the stock, applied for an uplisting and had large investors/institutions taking positions, mainly because of the very good balance sheet, huge earnings, promised buy back etc., etc.

To create the image of a vibrant enterprise, they fraudulently reported millions in fictitious earnings, revenues, expenses, and assets. To conceal the true results, they created fictitious periodic bank statements, checks, invoices and a general ledger, which they supplied to the auditor.
And while the B/S showed 12 million in cash, due to ongoing positive operating cashflows (according to the I/S), cash turned out to be NOT there at all....

Tell me there are no simularities.

BTW, the CEO of that company died in jail.