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Ha...I was buying the chart!
It looks like buy the rumor sell the news.
Just BINGO and "The trading volume in our Company's common stock has reached extraordinarily high levels over the past two trading days. In response to inquiries from shareholders and others, the Company reports that it is not aware of any material development which would account for the increase in share price and trading volume," commented Bill Fasig, the Company's President and Chief Executive Officer.
besides the bingo thing and montana
just picked it up today...great. Looks like pre-arranged trades. Any idea who is buying and why?
A 3 day run-up with a blow off top; looks like more downside. Took off 70% of my position today.
just getting started or falling off now?
Got in this one on Friday. I think its bottoming. Like that insiders bought 400k shares in April and another 400k shares in August. At higher prices than it is today.
Gametech receives approval from the Montana Gambling Control Division for new multi-game suite
http://ih.advfn.com/p.php?pid=nmona&cb=1255114385&article=39819715&symbol=N^GMTC
GameTech Names Marcia R. Martin as Chief Financial Officer
Date : 06/10/2008 @ 1:04PM
Source : PR Newswire
Stock : Gametech International (MM) (GMTC)
Quote : 4.95 -0.22 (-4.26%) @ 8:00PM
<< Back Quote Chart Financials Trades
GameTech Names Marcia R. Martin as Chief Financial Officer
RENO, Nev., June 10 /PRNewswire-FirstCall/ -- GameTech International, Inc. ("GameTech(R)") (NASDAQ:GMTC), a leading designer, developer and marketer of electronic bingo and gaming equipment, systems, and video lottery terminals through its Summit divisions, announced today that Marcia R. Martin, CPA, has been named Chief Financial Officer for the Company, effective June 10, 2008. Ms. Martin is a talented senior business leader with over 13 years of financial experience at the executive level and with over 10 years financial experience in the gaming industry, including as Vice President, Corporate Controller with Alliance Gaming Corporation/Bally Gaming & Systems. Most recently, Ms. Martin served as President, Western Division and Corporate CFO with the Holder Hospitality Group
"We are particularly pleased to have a person with Ms. Martin's financial and gaming qualifications joining GameTech. As our Company continues its growth we will be relying on her broad experience to support our company's requirements as we move forward," said Jay Meilstrup, GameTech's President and CEO.
In addition to her position as President, Western Division and Corporate CFO with Holder Hospitality Group, Ms. Martin has served as Vice President Controller, Strategic Planning with Twentieth Century Fox, Inc. as well as Vice President, Finance and Administration with GES Exposition Services. She began her career with Price Waterhouse & Co. as an auditor. Ms. Martin received her Bachelor of Science from the Ohio State University and her CPA from the State of California.
GameTech International, Inc. is in the business of designing, manufacturing, and marketing computerized bingo and gaming equipment, systems, and services. Under the GameTech(R) brand the company provides electronic bingo systems and equipment, and is an innovator in advanced wireless gaming applications and devices. Under the Summit Gaming (TM) brand the Company provides video lottery terminal devices and related software and content. GameTech International, Inc. serves customers in 43 U.S. States, Canada, Japan, Mexico, Norway, Philippines, and the United Kingdom. The company was incorporated in 1994 and is headquartered in Reno, Nevada.
DATASOURCE: GameTech International, Inc.
CONTACT: John Harvat of GameTech International, Inc., +1-775-850-6115
Web site: http://www.gametech-inc.com/
TOP INSTITUTIONAL HOLDERS
Holder Shares % Out Value* Reported
GOLDMAN CAPITAL MANAGEMENT, INC. 1,230,000 9.99 $7,306,200 31-Mar-08
DELTA PARTNERS LLC 995,175 8.08 $5,911,339 31-Mar-08
DIMENSIONAL FUND ADVISORS INC 367,776 2.99 $2,184,589 31-Mar-08
RENAISSANCE TECHNOLOGIES CORP 288,300 2.34 $1,712,502 31-Mar-08
BRIDGEWAY CAPITAL MANAGEMENT, INC. 262,000 2.13 $1,556,280 31-Mar-08
Zeke LP 233,900 1.90 $1,389,366 31-Mar-08
KENNEDY CAPITAL MANAGEMENT, INC. 152,300 1.24 $904,662 31-Mar-08
GRUBER & MCBAINE CAPITAL MANAGEMENT LLC 142,100 1.15 $844,074 31-Mar-08
AXA 117,419 .95 $697,468 31-Mar-08
033 ASSET MANAGEMENT, LLC 50,000 .41 $359,000 31-Dec-07
TOP MUTUAL FUND HOLDERS
Holder Shares % Out Value* Reported
BRIDGEWAY FDS INC-ULTRA SMALL COMPANY MARKET FD 222,600 1.81 $1,598,268 31-Dec-07
DFA U.S. MICRO CAP PORTFOLIO 123,000 1.00 $715,860 29-Feb-08
DFA U.S. SMALL CAP SERIES 41,660 .34 $242,461 29-Feb-08
VALIC CO I-SMALL CAP FD 30,200 .25 $175,764 29-Feb-08
LAUDUS TR-LAUDUS/ROSENBERG U.S. DISCOVERY FD 29,526 .24 $211,996 31-Dec-07
DFA TAX-MANAGED U.S. SMALL CAP PORTFOLIO 28,884 .23 $224,428 30-Nov-07
LOTSOFF CAPITAL MANAGEMENT EQUITY TR-MICRO CAP FD 25,400 .21 $150,876 31-Mar-08
DFA Tax Managed U.S. Targeted Value Port 23,700 .19 $184,149 30-Nov-07
Managers Trust I-Managers Fremont Micro-Cap Fund 17,500 .14 $122,325 31-Jan-08
SPARTAN EXTENDED MARKET INDEX FUND 13,061 .11 $77,582 31-Mar-08
March 10, 2008 - 6:00 AM EDT
GameTech Reports 1st Quarter 2008 Fiscal Results
RENO, Nev., March 10 /PRNewswire-FirstCall/ -- GameTech International, Inc. (Nasdaq: GMTC), a leading designer, developer and marketer of computerized bingo and gaming equipment, systems, and services, today announced financial results for the Company's first fiscal quarter ended January 31, 2008. Net income totaled $0.3 million for the quarter, or $0.03 per fully diluted share, which includes a pre-tax impairment charge relating to its investments in auction rate securities of $0.7 million ($0.5 million after tax, or $0.03 per fully diluted share). Adjusted net income, which excludes the impairment charge, for the quarter ended January 31, 2008, was $0.8 million or $0.06 per fully diluted share. Net income for the first quarter in fiscal 2007 was $1.1 million, or $0.08 per fully diluted share. Results for the quarter were impacted by an increase in interest and amortization expense related to the Summit acquisition, as well as the impairment charge for the investments.
Company Highlights:
-- Revenue for the first quarter of fiscal 2008 was $15.2 million compared
with $12.0 million for the same period in fiscal 2007.
-- EBITDA for the first quarter of fiscal 2008 was $4.5 million compared
with $4.2 million for the same period in fiscal 2007.
-- Net income for the first quarter of fiscal 2008 was $0.3 million,
compared with $1.1 million for the same period in fiscal 2007.
Excluding the impairment charge, adjusted net income for the first
quarter of fiscal 2008 was $0.8 million.
-- Net income per fully diluted share was $0.03 for the first quarter of
fiscal 2008 (or $0.06 excluding the impairment charge) and $0.08 for
the comparable period in fiscal 2007.
-- Interest expense and amortization expense related to the acquisition of
Summit Gaming totaled $0.7 million and $0.3 million for the first
quarter of 2008, respectively.
-- The Company recorded a pre-tax impairment charge related to its
investments in auction rate securities of approximately $0.7 million
($0.5 million after tax).
First quarter revenue totaled $15.2 million compared with $12.0 million for the comparable quarter during fiscal 2007. The increase in revenue for the three-month period ended January 31, 2008 was primarily due to results from the acquisition of Summit Amusement & Distributing, LTD., a manufacturer of video lottery terminals, which contributed $4.1 million in revenue to the first fiscal quarter. Bingo revenue for the first fiscal quarter of 2008 was $11.1 million, down from $12.0 million in the comparable quarter in fiscal 2007. While bingo revenue was impacted by increased regional competition, pricing pressures and the loss of certain accounts, they were offset in part by increases in various key states, and expansion in the United Kingdom markets.
The challenges in the credit and capital markets have caused the company to review its investments in auction rate securities. As of January 31, 2008, the estimated market value of the company's investments in auction rate securities stood at $3.2 million, which reflects an impairment charge of $0.7 million. Although these securities continue to pay interest according to their stated terms, the company has recorded an impairment charge of $0.7 million based upon an analysis of the securities and other-than-temporary factors. As of January 31, 2008, the company had $8.1 million in cash and cash equivalent balances in addition to its investment portfolio and believes that its current cash position and expected operating cash flows will be sufficient to fund its operations and debt service.
Jay Meilstrup, GameTech's President and Chief Executive Officer stated, 'While bingo revenue for the first fiscal quarter of 2008 was down 7.9% from the comparable period in 2007, we experienced continued revenue growth in certain domestic markets as well as in the United Kingdom, helping to offset erosion in some of our more mature bingo markets. When compared to the fiscal fourth quarter of 2007, we showed a 0.7% decline in revenue in the first fiscal quarter of 2008. This is an improvement over the previous sequential quarterly revenue decline the company experienced in the fourth fiscal quarter of 2007 when compared to the third fiscal quarter of 2007. Our Summit division's results for the quarter were impacted by some softness in the Montana market as well as fewer than expected shipments to the Louisiana market. With over 80% of Summit's sales coming from the Montana and Louisiana markets, financial results for this segment may continue to be volatile from quarter to quarter until we have broadened our revenue base by expanding into new markets. Additionally, GameTech continues to develop its technical capabilities in wireless technology to serve the newly developing wireless mobile gaming market. We anticipate our first commercial installment of our wireless server-based gaming system by the end of the second fiscal quarter. Finally, despite the challenges in the credit markets and the impact on our investment account, the company remains well capitalized and we believe will be able to meet its future financial obligations.'
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GameTech offers a wide array of Class III / VLT gamesand cabinets that are entertainment driven and proven profitable. Click on any of the following to learn more.
GameTech offers a wide array of cabinets that are entertainment driven and proven profitable. Click on any of the following to learn more.
SLOT CABINETS Royal Touch - Casino Station Royal Touch - Bar Top Drop In Royal Touch - Casino Upright Royal Touch - Slant Top Royal Touch - Chop Top MegaPlex/Gamblers Edge - Upright MegaPlex/Gamblers Edge - Slant Top MaxVision Meridian I22 | MaxVision™Model: GT9000High resolution Wide Screen LCD |
GameTech offers a wide array of player units that are entertainment driven and proven profitable. Click on any of the following to learn more.
UNITSCutting-Edge Technology, Performance and Design.
A Powerful Combination of Technology and Fun GameTech B3 ~ Big Bad Bingo™ is a suite of games that combines innovative game play, fun graphics and sophisticated scalable technology to produce a fast-paced, gripping gaming experience that will keep your players coming back time and again. With its overall design, clever bonus features, personalized play extras and automated administration, Big Bad Bingo™ is designed to offer a premium—and profitable— gaming experience for everyone.
GameTech offers a wide array of bingo systems that are entertainment driven and proven profitable. Click on any of the following to learn more.
SYSTEMSGameTech offers a wide array of games that are entertainment driven and proven profitable. Click on any of the following to learn more.
GAMESGameTech offers a wide array of gaming systems that are entertainment driven and proven profitable. Click on any of the following to learn more.
GAMING SYSTEMRichard Irvine
Director
Scott Shackelton
Director
Don Whitaker
Director
Kevin Y. Painter
Director
(All Files provided in Adobe PDF format.)
Corporate Governance Guidelines
Code of Ethics for the CEO and Senior Financial Officers
GameTech works with an independent third party for confidentiality. Please use any of the information below for whistleblower reporting.
Email: | whistle@fulcrum.com |
Website: | www.fulcrumfinancial.com/gametech.htm |
Fax #: | 213-891-1300 |
U.S. Mail: | Fulcrum Financial Inquiry LLP |
Whistleblower Department | |
888 S. Figueroa St., Suite 2000 | |
Los Angeles, CA 90017 |
Interested in a career with GameTech? Browse through the opportunities we have available now, then take a look at the benefits we offer all of our employees.
The positions listed below are currently open. Click on the position to find more information about it. If you qualify, we want to hear from you! Please send your resume to e-mail.
Please send your resume to e-mail.
GameTech International
8850 Double Diamond Parkway
Reno, Nevada 89521
Main Phone Number: 1-800-487-8510
Main Fax: 775-850-6199
Product Support: 1-800-959-1727
Summit a division of GameTech: (406) 652-3239
For career opportunities by email: jobs@gtiemail.com
For investor relations inquiries by email: investorrelations@gtiemail.com
For Compliance & Business Affairs inquiries by email: compliance@gtiemail.com
Not Available
Reporting Status | U.S. Registered & Reporting: SEC Filer |
Audited Financials | Not Available |
Latest Report | Not Available |
Regulatory Agency | Not Available |
CIK | 0001045014 |
Fiscal Year End | 10/31 |
OTC Market Tier | Not Available |
SIC - Industry Classification | Not Available |
Incorporated In: | DE, USA |
Year of Inc. | Not Available |
Employees | Not Available |
Bill Fasig | President, CEO |
Suzanne Chennault | CFO, Treasurer, Secretary |
Richard Fedor | Chairman |
Market Value1 | $3,219,224 | a/o Apr 18, 2011 |
Shares Outstanding | 11,706,269 | a/o Mar 05, 2009 |
Float | Not Available | |
Authorized Shares | Not Available | |
Par Value | Not Available |
Shareholders of Record | 132 | a/o Jan 30, 2009 |
Ex. Date | Record Date | Pay Date | |
---|---|---|---|
Dividend () | Dec 22, 2004 | Dec 27, 2004 | Jan 11, 2005 |
Dividend (0.03) | Dec 22, 2004 | Dec 27, 2004 | Jan 11, 2005 |
Dividend (0.03) | Sep 16, 2004 | Sep 20, 2004 | Oct 01, 2004 |
Short Interest | 4,972 (-85.48%) Dec 15, 2010 |
Significant Failures to Deliver | No |
Form Type | Received | Period Ending | Size | Report |
---|---|---|---|---|
8-K | Apr 18, 2011 | Apr 13, 2011 | 34.0 KB | PDF RTF HTML XLS |
10-Q | Mar 30, 2011 | Jan 30, 2011 | 625.5 KB | PDF RTF HTML XLS |
8-K | Mar 29, 2011 | Mar 23, 2011 | 31.5 KB | PDF RTF HTML XLS |
NT 10-Q | Mar 17, 2011 | Mar 17, 2011 | 46.4 KB | PDF RTF HTML XLS |
3 | Mar 11, 2011 | Mar 1, 2011 | 17.9 KB | PDF RTF HTML XLS |
3 | Mar 11, 2011 | Mar 1, 2011 | 19.0 KB | PDF RTF HTML XLS |
DEF 14A | Mar 7, 2011 | Mar 7, 2011 | 667.8 KB | PDF RTF HTML XLS |
8-K | Mar 7, 2011 | Mar 1, 2011 | 33.6 KB | PDF RTF HTML XLS |
10-K | Feb 15, 2011 | Oct 31, 2010 | 1.4 MB | PDF RTF HTML XLS |
SC 13G/A | Feb 15, 2011 | 109.2 KB | PDF RTF HTML XLS |
January 30, 2011 | October 31, 2010 | |||||||
(Unaudited) | ||||||||
ASSETS | ||||||||
Current assets: | ||||||||
Cash and equivalents | $ | 1,085 | $ | 2,017 | ||||
Restricted cash | 1,588 | 3,789 | ||||||
Accounts receivable, net of allowances of $2,948 and $3,063 | 3,710 | 3,409 | ||||||
Income taxes receivable | 2,949 | 2,963 | ||||||
Inventories | 2,756 | 4,285 | ||||||
Prepaid expenses and other | 1,089 | 1,020 | ||||||
13,177 | 17,483 | |||||||
Assets held for sale | 7,273 | 7,718 | ||||||
Bingo equipment, furniture and other equipment, net | 7,669 | 8,379 | ||||||
Goodwill | 10,184 | 10,184 | ||||||
Intangibles, less accumulated amortization of $11,325 and $10,873 | 2,557 | 2,996 | ||||||
$ | 40,860 | $ | 46,760 | |||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
Current liabilities: | ||||||||
Current portion of long-term debt | $ | 25,580 | $ | 27,554 | ||||
Interest rate swap | 939 | 1,185 | ||||||
Accounts payable | 1,315 | 1,659 | ||||||
Accrued payroll and related obligations | 919 | 1,040 | ||||||
Income taxes payable | 1,299 | 1,268 | ||||||
Deferred revenue | 6 | 2,891 | ||||||
Other accrued liabilities | 1,416 | 1,640 | ||||||
31,474 | 37,237 | |||||||
Stockholders’ equity: | ||||||||
Common stock, $0.001 par value: 40,000,000 shares authorized; 14,480,537 shares issued | 14 | 14 | ||||||
Additional paid in capital | 52,237 | 52,154 | ||||||
Accumulated deficit | (30,603 | ) | (30,315 | ) | ||||
Treasury stock, at cost, 2,659,010 and 2,673,844 shares | (12,262 | ) | (12,330 | ) | ||||
9,386 | 9,523 | |||||||
$ | 40,860 | $ | 46,760 | |||||
13-week period ended | ||||||||
January 30, 2011 | January 31, 2010 | |||||||
Net revenues | $ | 10,102 | $ | 8,414 | ||||
Cost of revenues | 4,932 | 3,302 | ||||||
Gross profit | 5,170 | 5,112 | ||||||
Operating expenses: | ||||||||
General and administrative | 1,955 | 2,774 | ||||||
Sales and marketing | 1,824 | 2,641 | ||||||
Research and development | 972 | 1,358 | ||||||
Impairment loss, assets held for sale | 445 | - | ||||||
5,196 | 6,773 | |||||||
Loss from operations | (26 | ) | (1,661 | ) | ||||
Other income (expense): | ||||||||
Interest expense | (387 | ) | (428 | ) | ||||
Other, net | 172 | 467 | ||||||
Loss, before income taxes (benefit) | (241 | ) | (1,622 | ) | ||||
Income taxes (benefit) | 47 | (627 | ) | |||||
Net loss | $ | (288 | ) | $ | (995 | ) | ||
Basic and diluted net loss per share | $ | (0.02 | ) | $ | (0.08 | ) | ||
Shares used in calculating basic and diluted net loss per share | 11,815 | 11,736 |
Common Stock | Additional Paid in | Accumulated | Treasury Stock | |||||||||||||||||||||||||
Shares | Amount | Capital | Earnings (Deficit) | Shares | Amount | Total | ||||||||||||||||||||||
Balances at November 1, 2010 | 14,480,537 | $ | 14 | $ | 52,154 | $ | (30,315 | ) | 2,673,844 | $ | (12,330 | ) | $ | 9,523 | ||||||||||||||
Forfeiture of restricted stock | - | - | - | - | - | - | - | |||||||||||||||||||||
Restricted stock issued | - | - | (68 | ) | - | (14,834 | ) | 68 | - | |||||||||||||||||||
Stock based compensation | - | - | 151 | - | - | - | 151 | |||||||||||||||||||||
Net loss | - | - | - | (288 | ) | - | - | (288 | ) | |||||||||||||||||||
Balances at January 30, 2011 | 14,480,537 | $ | 14 | $ | 52,237 | $ | (30,603 | ) | 2,659,010 | $ | (12,262 | ) | $ | 9,386 | ||||||||||||||
Balances at November 2, 2009 | 14,480,537 | $ | 14 | $ | 51,942 | $ | (9,959 | ) | 2,744,672 | $ | (12,657 | ) | $ | 29,340 | ||||||||||||||
Forfeiture of restricted stock | - | - | (25 | ) | - | - | - | (25 | ) | |||||||||||||||||||
Stock based compensation | - | - | 147 | - | - | - | 147 | |||||||||||||||||||||
Net loss | - | - | - | (995 | ) | - | - | (995 | ) | |||||||||||||||||||
Balances at January 31, 2010 | 14,480,537 | $ | 14 | $ | 52,064 | $ | (10,954 | ) | 2,744,672 | $ | (12,657 | ) | $ | 28,467 | ||||||||||||||
(In thousands, except per share amounts) | ||||||||
13-week period ended | ||||||||
| January 30, 2011 | January 31, 2010 | ||||||
Weighted average number of shares outstanding | 11,815 | 11,736 | ||||||
Incremental shares from the assumed exercise of dilutive stock options | 67 | - | ||||||
Dilutive weighted shares | 11,882 | 11,736 | ||||||
Weighted average number of anti-dilutive shares outstanding | 752 | 279 |
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Disclosure The Wave Team
The Wave Team are all non-paid non-professionals with many years of activity in both short and long term investments. The stocks offered by the wave team are simple suggestions based on extensive research and we remind all those that choose to buy to perform due diligence on each and every stock pick. All WAVE picks are geared towards medium & long term investors so place your buy based on a price that you perceive to be acceptable to your portfolio. Speed is not as critical on the buy as timing based on the L2 and the present price compared to growth potential. As a team we will strive to present the best companies the otcbb has to offer and in time will do the same on the other markets. Due to the volatility of the markets, we do not guarantee all stocks will grow as fast as others. We are a team of analysts, and unfortunately there is not a psychic present at this time. While our picks may present many trading options quickly, it is our goal to find companies that are looking to increase shareholder from a long-term perspective.
Please make your decision to buy or not to buy based on information that you acquire thru your own due diligence.
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