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cjg,
When I sold mine, I had to call in the order. Make sure you ask the broker to call the trading desk to see what the current bid & ask ranges are. If you really want to sell your shares, you're better off putting your ask as close as to the bid as possible. I had tried to sell mine at the ask range, but the order was never filled for several days until I finally dropped my ask to the bid price (and I mean the low bid price). GLTY.
Global Axcess Corp Signs New Five-Year Contract With Convenience Store Chain for 20 ATMs Secures Contract Valued at Over $340,000 per Year
JACKSONVILLE, Fla., March 25 /PRNewswire-FirstCall/ -- Global Axcess Corp (OTC Bulletin Board: GAXC; the "Company"), an independent provider of self-service kiosk solutions, today announced that its ATM subsidiary, Nationwide Money Services, has signed a new, 60-month contract with a convenience store chain valued at over $1.7 million over the full-term of the contract that will cover 20 newly installed ATMs with a full-turnkey Global Axcess program. The Company expects to begin generating revenues from these services in the second quarter.
Mr. George McQuain, Chief Executive Officer of Global Axcess, stated, "Our quality, service and unrivaled responsiveness continues to earn us new business with a diverse and growing base of clients, and we are proud to add this convenience store chain to that list. This client reached out to us to replace another provider who failed to meet expectations and created additional business challenges. Our ability to respond immediately, deploy ATMs at their locations and address their business needs without delay won us the business. Increasingly, our ability to meet aggressive client timelines and deliver unrivaled ATM uptime, quality and superior responsiveness is resonating in the industry. In addition, clients embrace our efforts to eliminate the challenges of managing ATMs and enable their managers to focus on customers. As our sales pipeline grows, we are increasingly confident in our ability to grow ATM revenues
Global Axcess Corp Signs New Three-Year Contract With Grocery Store Chain for 31 ATMs
- Client Installing ATMs for First Time in its Locations -
JACKSONVILLE, Fla., March 23 /PRNewswire-FirstCall/ -- Global Axcess Corp (OTC Bulletin Board: GAXC; the "Company"), an independent provider of self-service kiosk solutions, today announced that its ATM subsidiary, Nationwide Money Services, has signed a new, 36-month contract with a grocery store chain that will cover 31 newly installed ATMs with a full-turnkey Global Axcess program. The Company expects to begin generating revenues from these services in the second quarter of 2010.
Mr. George McQuain, Chief Executive Officer of Global Axcess, stated, "We are pleased to add this new client to our expanding client base and look forward to a productive relationship. This new client recognized the added value of installing ATMs in their outlets to increase foot traffic and better serve customers, and we are pleased to help them with this initiative. They also recognize that our turnkey program will help them do what they do best - service their customers rather than managing ATMs. Our value proposition to grocery and convenience store chains is that we remove the headaches of managing ATMs and allow businesses and management to focus on customers, not ATM issues. This message resonated with this customer and we are pleased to have won their business. We continue to see evidence – such as this contract – that there are substantial growth opportunities for us to grow our ATM network revenues organically."
This latest news is just the icing on the cake. There's obviously no cash, and it's possible there never has been. There is simply no evidence that this is a real operating business; it sounds like a house of cards. Real companies simply don't act this way.
grampie,
I agree with your statement. I believe that EGMI is doing serious damage control now by hiring G.C. Andersen Partners because the audit report that is about to be released isn't going to be pretty. It also would not surprise me that KD already knows the outcome of the final audit report either. Good luck to those who are still holding. I'm out 100%.
EGMI Engages G.C. Andersen Partners as Strategic and Financial Advisor http://bit.ly/cxaEzD
Research coverage by Hilbroy Advisory http://bit.ly/duYSUO Please read it with a grain of salt.
lol...two minds think alike I guess.
I still think EGMI is a *#$^%(@! for waiting almost 3 hours after the market opened before releasing their news. I really think EGMI might be trading at a much higher price right now if the news was released before 9:30 this morning. Absolutely NO consideration for its shareholders...NONE whatsoever!!!
I had my sell pre-set at $0.50 this morning. However, it wasn’t my shares that got hit at the high. Since the news release, I have cancelled my sell order...on a wait & see mode now.
wicked tomato,
Thanks, I just tried it, and it works now.
I hope it doesn't open...what's the point? Let's get the dirty laundry aired out and then resume trading, would make more sense.
waikikian,
I agree, but I'm not going to hold my breath that there'll be some type of news released by the management. They've been quiet so long that why would they change their way at this point in the game? They're probably all lawyer up and advised not to say a thing anyway.
Looks like EGMI will resume trading today....
www.otcbb.com/dynamic/marketwatch/mwsubhome.stm
Not according to my local Scottrade rep, her system is still telling her that it's halted as of 8:45 this morning. However, she said EGMI "may" resume trading once the market opens. I still can't put in a sell order in Scottrade. :(
Can the auditors be sued also?
They are the ones who signed off on the cash, then retracted the audit results recently. What were they smoking or drinking the first time they signed off on it multiple times, over the past several years? How much specialized accounting skill does it take to talk to a bank and figure out whether cash is actually there or not, in the acct numbers given to the auditor? I think my 6th grader could do that. Shareholders depended upon the audited results during due diligence for investment decision.
market-liquidity,
I hold the auditors responsible (probably more than the management). They were well compensated for their work...about $81,389 in 2008 & $71,736 in 2007.
Will someone post the phone number and name of the SEC employee that had been posted previously on this board. Myself and hopefully others can call him and urge him to not lift the halt on shares until information is disseminated by mgmt. Who knows what his workload is and it is possible he may have not looked closely enough at this.
kardon,
S.E.C Lead Attorney: Steve Larson (212) 336-0142
NEW YORK, Mar 4, 2010 (GlobeNewswire via COMTEX) -- The Rosen Law Firm, P.A. announced today that it has filed a class action lawsuit on behalf of all purchasers of Electronic Game Card, Inc. (OTCBB:EGMI) ("EGMI" or the "Company") stock between April 5, 2007 and February 19, 2010 (the "Class Period").
To join the EGMI class action, go to the website at http://www.rosenlegal.com or call Laurence Rosen, Esq. or Phillip Kim, Esq. toll-free at 866-767-3653 or email lrosen@rosenlegal.com or pkim@rosenlegal.com for information on the class action.
The case is pending in the United States District Court for the Central District of California as case no. SAC-10-00252. You can obtain a copy of the complaint from the clerk of court or you may contact counsel for plaintiffs Laurence Rosen, Esq. or Phillip Kim, Esq. toll-free at 866-767-3653 or email
lrosen@rosenlegal.com or pkim@rosenlegal.com.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY ALSO RETAIN COUNSEL OF
YOUR CHOICE.
The complaint charges EGMI and certain of its present and former officers and directors with violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The complaint asserts that the Company issued materially false and misleading financial statements during the Class Period and misrepresented the
Company's true financial condition. The Complaint alleges that on February 19, 2010 the Company filed an 8-K announcing that its auditors had withdrawn their audit opinions for Electronic Game Card, Inc.'s financial statements for the years ended December 31, 2006, 2007, and 2008. The Company's auditors also advised EGMI that it had become aware of irregularities in the audit
confirmation of a bank account of one of EGMI's wholly owned subsidiaries.
That same day, the SEC issued an Order temporarily suspending trading in the Company's stock because "there is a lack of current and accurate information concerning the securities of Electronic Game Card, Inc. because of questions regarding the accuracy of assertions by EGMI and by others in financial
disclosures to investors concerning, among other things, the Company's assets." As a result of the trading suspension, EGMI's shares are effectively illiquid and shareholders have been damaged.
A class action lawsuit has already been filed on behalf of EGMI shareholders. If you wish to serve as lead plaintiff, you must move the Court no later than May 3, 2010. If you wish to join the litigation or to discuss your rights or interests regarding this class action, please contact plaintiff's counsel, Laurence Rosen, Esq. or Phillip Kim, Esq. of The Rosen Law Firm toll free at
866-767-3653 or via e-mail at lrosen@rosenlegal.com or pkim@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: The Rosen Law Firm PA PC
By Staff
CONTACT: CONTACT: The Rosen Law Firm P.A.
Laurence Rosen, Esq.
lrosen@rosenlegal.com
Phillip Kim, Esq.
pkim@rosenlegal.com
(212) 686-1060
1-866-767-3653
Weekends Tel: (917) 797-4425
Fax: (212) 202-3827
www.rosenlegal.com
350 5th Avenue, Suite 5508
New York, New York 10118
Most likely, EGMI has already prepaid their fees to be in the Roth conference.
From the SEC website:
Will trading automatically resume after ten days?
It depends on the market where the stock trades. Different rules apply in different markets.
For stocks that trade in the OTC or the over-the-counter market, trading does NOT automatically resume when a suspension ends. (The OTC market includes the Bulletin Board and the Pink Sheets.) Before trading can resume for OTC stocks, SEC regulations require a broker-dealer to review information about a company before publishing a quote. If a broker-dealer does not have confidence that a company's financial statements are current and accurate, especially in light of the questions raised by the SEC, then a broker-dealer may not publish a quote for the company's stock.
In contrast to OTC stocks, stocks that trade on an exchange or Nasdaq resume trading as soon as an SEC suspension ends.
http://www.sec.gov/answers/tradingsuspension.htm
"LMFAO, have any of you ever been part of a class action lawsuit??? Well let me tell you, YOU DON'T GET ANYTHING FROM OTC/PINKIES. Everything is going to be fine, omg!!"
Were you directing this question to me? I never thought I was going to get a dime the day EGMI was halted. The lawsuit announcement confirmed that.
Do you DD, they talk about the mailing address, My Corporation Uses a po box for the mailing address, as it allows me to have somebody else sign for things, etc. This is not Google!
That may be true, but with every corporation filing, one must also fill out an actual physical location. I definitely did NOT expect a PUBLIC TRADED corporation picking up their mails at an UPS mailbox. It's different when you're talking about a privately owned corporation where you are your own boss. Where are they keeping ALL the business docs & accounting records? At their own homes?
Well, it's no longer just a post from Yahoo... It's an official press release.
The Rosen Law Firm Announces Investigation of Securities Claims Against Electronic Game Card, Inc. http://www.streetinsider.com/Press+Releases/The+Rosen+Law+Firm+Announces+Investigation+of+Securities+Claims+Against+Electronic+Game+Card,+Inc./5390890.html
DueDiligence101 for future stocks - Make sure the corproate office address is NOT an UPS mailbox...
I have already written off this dog since the day it was halted.
StockGod twitted that EGMI CEO just contacted him.
"...The company will be providing information to the market very soon. At the present time I cannot share any other details with you on an individual basis but information will be forthcoming to all EGMI Shareholders..."
I'm sure we can gather enough votes here to get KD out.
I just noticed that, but if you look at the shares owned as of 12/31/08, it's 3,078,000. In 12/31/09, it's 3,603,872, an increase of 525,872 shares (that's probably where I got the "INCREASE" from). Maybe there's another filing in between the two dates that I missed. Anyway, this one doesn't concern me as much as Manatuck Hill's filing. There were a lot more shares that were sold there, although I'm not sure how much of those shares were sold to L Steinberg.
Older filings of the two funds.
Manatuck http://sec.gov/Archives/edgar/data/1083036/000119312509147433/dsc13g.htm
Tricadia http://sec.gov/Archives/edgar/data/1083036/000108514609000939/electronicgamecardinc.htm
Losing,
Your analysis is incorrect. Manatuck REDUCED their shares from 12.96% (06/30/09) to 7.16%. Tricadia INCREASED theirs from 5.6% (12/31/08) to 5.14%.
Also, something else I didn't know that Ian twitted regarding to the above: "yeah one fund sold stock to L. Steinberg, late chairman"
Losing,
Which mutual fund buys are you referring to?
February 12, 2010 1:13 PM EST
Merriman Curhan Ford downgrades Electronic Game Card Inc. (OTC: EGMI) from Buy to Neutral.
Merriman analyst says, "With the postponing of the business update conference call, we are stepping to the sidelines until we get more clarity on several issues. While we have no indication that the fundamentals have changed, and in fact, continue to believe that 4Q09 results were in-line with expectations, there are a number of corporate governance issues that need to be addressed and have been lingering for too long. The
company intends to provide an update on the state of business affairs on February 25, which was delayed from February 10 for unknown reasons."
Electronic Game Card, Inc. (EGC) is a designer and manufacturer of a gaming device.
http://www.streetinsider.com/Downgrades/Merriman
Can I join the party? lol
Thanks. I guess slowly, the puzzle is coming together (who's been dumping in huge quantities).
Well, I'm jealous. I still haven't received a response from EGMI. What email address did you use?
Thanks for sharing btw.
I think we all have been "poken" today!
I sent an email to Yvonne today also. I gave her a list of items that need to be addressed (whether good or bad) on the 25th conference call.
Am I the only one seeing this on www.shoppoken.com? Is this now a porn site? Is this a joke?
Welcome to SexyShopPanama.com -- First Virtual Sex Shop in Panama
This site contains graphic material not suitable for children under 18 years. You can only make purchases at our site if you are over age and lives in Panama.
China Gerui Advanced Materials Group Limited Launches New Website for Investor Relations http://www.geruigroup.com/
Construction Update February 9, 2010 http://dynamicfuelsllc.com/wp-news/
Ooops, I just realized that TSN's fiscal year end is 10/03/09...so their 3rd quarter fiscal year would be 04/03/10-7/03/10 and not 07/01/10-09/30/10. So, it looks like the plant is still on schedule.
It looks like the plant completion isn't going to happen until after the 3rd quarter now. Following paragraph is taken from TSN's latest 10-Q http://sec.gov/Archives/edgar/data/100493/000010049310000004/form10q_01022010.htm. Scroll down to Cash Flows From Investing Activities.
...approximately $50 million related to Dynamic Fuels LLC (Dynamic Fuels), most of which relates to the completion of Dynamic Fuels’ first facility. Construction of this facility is expected to continue into the third quarter of fiscal 2010, with production targeted soon thereafter.
Oops...looks like wmthecommoner already posted this.
IRVINE, Calif. and LONDON, Feb 01, 2010 /PRNewswire via COMTEX/ -- Electronic
Game Card, Inc. (OTC Bulletin Board: EGMI) ("EGC"), announced today that it has
scheduled a conference call for Wednesday, February 10, 2010 at 10:00 a.m. (ET)
to provide an update on the Company's progress.
Yeah, but how low before the bleeding stops?
Just curious, how many longs are still holding after this latest "poken" news? I really like to know what the heck happened at the Sundance Film Festival. It just ended yesterday, and Poken news already came out today. I still can't believe this stock is trading at less than a $1.
It's Yahoo. No headline news for other stocks too.
EGMI - Confirmed Presenting Company for ROTH 22nd Annual OC Growth Stock Conference, March15-17, 2010.
http://www.meetmax.com/sched/rcp310/~public/conference_companies.html?event_id=4890