Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
INRB - Anyone know when they posted their previous annuals?
Happy Anniversary... My 1 year holding period passed yesterday. At the bid that's 50%. Quite a haircut from this summer.
OSIIF - Any reason for the perking up of share price by 15%? Not huge volumes and no new filings, so could be a fluke.
AYSI - Thanks to littlefishl. I bought some several months ago, but added another 10k limit order at .67 several weeks ago. Wasn't really following this morning, but looking now with the price breakdown this morning I got filled on 10k at .6625. Now we are up over $1.00. Best news in a while in my portfolio!
AYSI - Poor timing, but at least it's Grant Thornton and not some shill auditor. We're stepping up to the big boys with this auditor change.
Lots of silence on this stock. I've got some very low cost basis shares in the teens. Anyone have news on the 10q's?
TXCO - Positive to see Third Point in there. A while back I invested in LGND where Third Point was a holder and it almost gave me a double, but than the company didn't execute and the stock came back down. I got out with about a 60% gain, but the stock is now below my purchase price and below Third Points entry price. Doesn't mean having Third Point is bad, but the company still needs to execute.
I've been following the stock following the previous dip and earnings announcement. Somewhat of a disconnect here. Stock posts decent earnings and touts a spinoff, yet sells off significantly. Not much for catching falling knives, but didn't see anything to scare me away. Bought some at 4.00, but took a little hit so far.
VPHM - A bit of positive news...
http://biz.yahoo.com/prnews/071112/nem101.html?.v=22
Considering that VPHM was very prudent with their acquisition of Vancocin, I am hoping that they are again being prudent with this cash hoard. I believe they stated in the past that they would only stick to drugs w/in their core competency. I think the example you give are outside that realm.
Looking for new brokerage. I'm using Etrade & Fidelity. Fidelity charges too much for sub $1.00 stocks. Considering Schwab. Any other recommendations? This will be for all banking, brokerage & retirement accounts. Want to see who others are happy using.
Thanks!
So how do you know when a MM steps in front of you on a trade?
I'd like to learn something new today. Thanks.
Acquisitions would be great if it's another Vancocin, but how likely is that? Preserve the cash and use it to fund development. Their CMV drug in Phase III sounds quite promising. HCV-796 was a downer given the trials were stopped. Though at least the elevated enzyme levels from the two patients did eventually return back to normal. Their pipeline I believe is promising, though not very deep. Which makes this somewhat of a lottery ticket if it wasn't for Vancocin.
VPHM - heading pack to VMC territory. I'm somewhat shocked this has not been able to hold above 10. I had a couple thousand share position remaining from the VPHM glory days. I never thought it would drop below 10, but held on seeing their strong earnings and lack of news on generic competition for Vancocin. Still holding until we get further updates on CMV Phase III and HCV-796 Phase II suspension. Any thoughts?
That's a great link. Thanks rogue.
R59, thanks for the save on SMTX. Some sloppiness almost caused me to lose out on the profit, before I sold in the 7's. You pointed out some charges that made me weary, too bad I didn't short as you did.
AOSDF, AOS - Have anyone that invested in the pinksheet equivalent received their shares from the transfer agent? It's been a month and I'm still waiting.
AOSDF - I still have not received my shares from the transfer agent following the name change. Anyone else having those problems. Well at least it has tempered any urge to sell following these nice gains. Still long here.
Question on GLDD for Swick984 or others...
Any thoughts on the stock following their early conversion of the warrants? I bought a few thousand warrants and decided to exercise them instead of selling them as they topped out around 5.25. Now I'm sitting on a much larger dollar value of positions. Seems like backlog is growing and they have a substantial amount of bids they have won, but have not added to the backlog. It seems positive for their future, but exercising the warrants have made this a top 3 holding for me from a less than average position. I usually hold less than 20 stocks.
Oh an a tip of the hat for Swick984 to bringing this to my attention.
EGMI - I've been following this stock for a while. I lost a little bit on it in mid 2006, but rebought a much larger position in Feb 07. I unloaded 1/4 of my position in May around .45 and tried to rebuy, but missed out by a penny. The company has announced any additional lottery system purchases, but the fact that Scientific Games is in a licensing agreement helps them break into the market tremendously. Definitely not a VMC at this point, but a nice little growth story. Their electronic game cards are a bit addicting. I'm surprised they have not gotten more traction considering the strong lottery sales response in Iowa & Kansas. I'll be waiting to see how things develop w/ this company.
SMTX - unloaded the rest into this rally. I'm entirely out with just over 200% gains.
R59 - SMTX. Thanks for pointing that out. I really haven't looked in depth at the stock since my initial outlay in the 2.20's. I have to start keeping track and developing my own earnings models instead of flipping back and forth between K's & Q's. It's too hard to remember all the details after a couple months. I lightened up my position after researching your facts. Somehow I glossed over it after looking at the revenues and earnings today. Though I can say luckily I reaped a higher sale at current price, because I surely would have sold earlier if I saw those tax recoveries. Dumb luck you can call it.
SMTX
Looks like you make a good short term trade so far. I'm still long the stock. It's had a nice run. I just find it hard to short considering it's not extremely overvalued. The company did .70 in FY'06 and 1Q'07 did .19. That's still under a 10 PE.
I'm going to have to do a little homework on the warrant situation. I'm not sure if CDP (recent insider seller) is a holder of the warrants. If warrants w/ exercise at 6.90 were exercised and sold this will increase shares outstanding and may drag down the EPS, but considering the company has been able to execute increases in rev on YOY Q's next quarter should not be a hard comp. If the warrants were exercised, it would not be on the next Q considering the price did not breach $6.9 until after the end of quarter. It's a hold for me through the next Q, but I will have to re-evaluate depending on strength of sales.
I unloaded about 1/4 of my position at .45 during the last rally. I tried buying back around .28 not too long ago, but didn't want to chase. Oh well...
I'll see if there is another opportunity. I wonder if the next Q will be as good, considering there have not been any new lottery sales. I believe they mentioned a potential delivery in the 2nd qtr, but that's going off of memory.
I bought SMTX around 2.30 after seeing a post from you, so first off I have to say thanks. It seems like the company has turned a corner, after having revenues bottom out. It's definitely has had a nice run and the accumulation without news to me seems positive, especially since it's with volume. I plan on holding through earnings and reassessing after seeing another Q. I don't feel they are an all out short from a fundamental perspective.
OSI.TO - moving quite a bit w/ volume on no news. Anyone see anything out there? Yesterday's news was interesting, but I didn't see anything market moving. Well, I guess I'll enjoy the ride for now.
I'm still in my original position from the 2.30's so skimmed some of the cream on this trade. Though will continue to hold as long as they are delivering on this turnaround. Still looks fairly inexpensive to me.
That is a very eye opening stat. Thank you. I always felt that the housing market has a bit further to correct and this provides relevant data showing historical performance in a down market.
SUWN - unloading of a huge position... Down 20%
LIM - Update
So I'm sure LIM holders have all seen the revised offer from Norilsk of CAD27.50. Now LIM is trading about CAD28.4, which is 3.3% above the offer. We could see CAD30.00 with any new offer. I think synergies with Xstrata are probably better, but looks like Norilsk has more ability to debt finance the acquisition. With only 3.3% to lose should I "only" get the CAD27.50, I will hold.
http://today.reuters.com/news/articleinvesting.aspx?view=CN&WTmodLOC=C3-News-2&symbol=LIM.TO...
LIM & RNO - Still potential for increase on LIM as stated that a 20% increase on existing offer is still 6.5x EV/EBITDA. Compares well to takeouts of Falconbridge & Inco at roughly 7x EV/EBITDA. This is of course taking into account higher prices for metal now as well. Norilsk would have to believe that high nickel is here to stay. Since it entered into the acquisition foray, maybe they think that. Or they could be just pushing up the price for Xstrata so their own valuations remain high. What to do?
RNO is a different situation, since it is a much smaller play, so maybe it is going below the radar. Though w/ the amount of M&A happening I would think some more mining companies would start thinking eat or be eaten. It is still being taken out rather cheaply.
LIM - Handicapping the situation...
I expected a higher counter than CAD 18.5 and was pleasantly surprised with CAD 21.5 and CAD 25 offers. Now we are trading at CAD 27.35, which is 9.4% above the current offer. Reading the enclosed article...
http://yahoo.reuters.com/news/articlehybrid.aspx?storyID=urn:newsml:reuters.com:20070516:MTFH15430_2...
makes you think Norilsk will come back, but the CEO's comments almost seemed to concede defeat. Anyone else think that way? Or do you feel the Russians will be aggressive considering they are a private entity and will not have as much scrutiny for paying higher prices. Xstrata's extremely high break fee (as % of deal) seems like a scare tactic. The article states 6.5x EV/EBITDA on a 20% higher offer than Xstrata's current bid. Seems entirely reasonable 7x would be getting kind of high and 8x would be getting stratified. Thoughts?
EGMI - numbers posted are decent. Not a deep value if you just extrapolate the .00486 1st qtr for the year absent growth. Not sure what growth can be like here. I certainly expect it to be lumpy. Gross margins are quite high at 74.2%, which is very good. Having Scientific Games as a promoter of it's product will be invaluable given the depth of it's distribution channel in the gaming market. The new agreement probably isn't reflected in this quarter's earnings, but will in future quarters. Looking forward to monitoring their progress.
EGMI - Electronic Game Card, Inc. Reports First Quarter 2007 Earnings
http://biz.yahoo.com/prnews/070516/nyw013.html?.v=95
Electronic Game Card Achieves Its First Profitable Quarter
NEW YORK and LONDON, May 16 /PRNewswire-FirstCall/ -- Electronic Game Card, Inc. (OTC Bulletin Board: EGMI - News; "EGC"), today reported financial results for the quarter ending March 31, 2007. This first quarter of 2007 is a notable quarter for the company. Electronic Game Card has completed its shift from a development stage company to a commercialized entity, generating a material improvement in revenues and achieving profitability for the first time in its history.
ADVERTISEMENT
Revenues for the first quarter of 2007 were $990,000 which approximately equaled the revenues achieved during the entire year of 2006. The company's strategic plan to fully utilize its proprietary technology platform and reposition its sales strategy started to take form during the quarter. Electronic Game Card began expanding its addressable market beyond its U.S. lottery business to include gaming card promotion. Given the company's recent successful renegotiation of its exclusive distribution partnership with Scientific Games to cover the North American and Italian lottery markets, Electronic Game Card is freed to focus on broadening the use of the GameCard and aggressively address a number of significant industry opportunities it has begun to develop within the gaming and promotional markets.
The Company achieved profitability during the quarter reporting net income of $215,113 or $0.01 per share compared to a net loss of $1.9 million or $(0.08) for the first quarter of 2006.
Electronic Game Card's gross profit on revenue for the quarter ended March 31, 2007 was $735,000. Selling, general and administrative expenses (SG&A) declined during the first quarter 2007 to $331,000 as compared to first quarter 2006 at $549,000.
Cash and equivalents on March 31, 2007 were $2.8 million, a decrease of approximately $220,000 from the period ending December 31, 2006. Accounts receivable increased from $415,000 at year end 2006 to $981,000 first quarter 2007. As of March 31, 2007, Electronic Game Card had approximately 44.1 million shares of common stock outstanding, with fully diluted share count totaling 56.6 million. The aggregate proceeds if all options and warrants were to be exercised would approximate $5.4 million. At quarter end, the Company had a net operating tax loss carry forward of approximately $29.4 million that may be offset against future taxable income through 2023.
The physical design of the GameCard has been enhanced through modifications to circuit design, leading to a more robust product. Performance is constantly being reviewed to improve the GameCard still further. In addition to improved circuit design, the company is currently upgrading the MCU Body (chip) on a number of games, further enhancing reliability. Currently Electronic Game Card has a portfolio 17 games and anticipates introducing an additional 5 games over the next four quarters.
"Electronic Game Card has completed the turn around begun in the first quarter of 2006 and is now a fully commercial entity addressing a large and expanding market opportunity," commented a company spokesperson. "Having right-sized the company, and templatized the GameCard to potentially capture maximum gross margin, we are now prepared to meaningfully penetrate various target markets in conjunction with channel partners. Our goal over the next several quarters is to achieve production economies as we increase contract volumes, introduce new GameCard capabilities that could provide pricing flexibility and continue to fine tune our balance sheet. We anticipate consistent sequential quarterly growth in both revenues and profits. Now that we have finalized a licensing/royalty agreement with Scientific Games, we are able to refine our guidance for the current year projecting revenues of approximately $6 million which are projected to generate earnings per share of 4c.
About Electronic Game Card. Inc.
Electronic Game Card Inc., (OTCBB: EGMI - News), develops, produces and markets innovative games to the lottery, casino, and promotional industry worldwide. The Company's lead product is the EGC GameCard, a unique credit card-sized pocket game combining proprietary technology of interactive capability with "instant win" excitement. The "Electronic GameCard" can be programmed to suit a variety of gaming and promotion applications. EGMI's client base is across the $100 billion global market of state and national lotteries, Gaming and Casinos, Indian Gaming and the expanding sales promotion and incentive markets. EGMI develops sales and marketing relationships with agents globally and has a joint venture with a major lottery focused US listed corporation which owns approximately 8% of the EGMI common stock. For further information please visit www.electronicgamecard.com
July 2005, the Public Gaming Research Institute (PGRI) named the Electronic GameCard(TM) as a 2005 Lottery Product of the Year during its conference in Las Vegas. The PGRI award recognizes the importance of new products to the growth and continuing success of worldwide lotteries.
Certain statements in this news release may constitute "forward-looking" statements within the meaning of section 21E of the Securities and Exchange Act of 1934. The Company believes that its expectations, as expressed in these statements are based on reasonable assumptions regarding the risks and uncertainties inherent in achieving those expectations. These statements are not, however, guarantees of future performance and actual results may differ materially. Risk factors are listed in the most recent Annual Report on Form 10-KSB and Quarterly Report on Form 10-QSB filed with the Securities and Exchange Commission.
ELECTRONIC GAME CARD, INC
CONSOLIDATED BALANCE SHEET
(Unaudited)
March 31, December 31,
2007 2006
ASSETS
CURRENT ASSETS
Cash and cash equivalents $2,833,280 $3,052,733
Accounts receivable 981,268 415,067
Deposit on inventory 97,571 97,571
Value Added Tax receivable 16,330 19,604
Deferred charges 304,952 343,071
Related party receivable - 79,275
Total Current Assets 4,233,401 4,007,321
PROPERTY AND EQUIPMENT
Plant and machinery 75,628 75,586
Office equipment 63,900 63,852
Furniture and fixtures 1,378 1,375
Less: Accumulated depreciation (81,712) (78,627)
Total Property and Equipment, Net 59,194 62,186
OTHER ASSETS
Patents 29,234 29,234
Investments, at cost 1,182,893 1,018,269
TOTAL ASSETS $5,504,722 $5,117,010
LIABILITIES AND STOCKHOLDERS' EQUITY/(DEFICIT)
CURRENT LIABILITIES
Accounts payable $1,165,252 $1,140,291
Interest payable 129,000 -
Total Current Liabilities 1,294,252 1,140,291
NON-CURRENT LIABILITIES
Deficit in Joint Venture 31,127 12,489
Total Non-Current Liabilities - 12,489
Total Liabilities 1,325,379 1,152,780
Series A6% convertible redeemable
preferred stock, par value $0.001,
10,000,000 shares authorized,
5,777,333 and 5,604,825 shares issued
and outstanding as of March 31, 2007 8,407,238 8,407,238
STOCKHOLDERS' EQUITY/(DEFICIT)
Common stock, par value $0.001, 100,000,000
shares authorized, 44,168,683 and
26,131,513 shares issued and outstanding
as of March 31, 2007 44,169 44,169
Additional paid-in capital 25,188,340 25,188,340
Currency translation adjustment (817,608) (754,560)
Accumulated deficit (28,652,796) (28,920,957)
Total Stockholders' Equity/(Deficit) (4,227,895) (4,443,008)
TOTAL LIABILITIES AND STOCKHOLDERS'
EQUITY/(DEFICIT) $5,504,722 $5,117,010
ELECTRONIC GAME CARD, INC
Consolidated Statements of Operations
(Unaudited)
For the Three Months
March 31,
2007 2006
Revenue $990,538 $152,145
Cost of sales 255,345 82,486
Gross Profit 735,193 69,659
Operating expenses
Sales and marketing 1,172 19,399
General and administrative 104,617 167,354
Consulting expenses 95,005 188,348
Salaries and wages 112,245 174,309
Loss from joint venture 18,638
Total operating expenses 331,677 549,410
Net operating profit / (loss) 403,516 (479,751)
Other income (expenses)
Interest income 42,701 -
Interest expense (168,056) (1,458,995)
(125,355) (1,458,995)
Net Profit / (Loss) $278,161 $(1,938,746)
Foreign currency translation
adjustment gain / (loss) (63,048) (635)
Total Comprehensive Income / (Loss) $215,113 $(1,939,381)
Net Profit / (Loss) Per Common
Share - Basic and Diluted $0.01 $(0.08)
Weighted Average Number of
Shares Outstanding $44,168,683 $25,765,765
SUWN - Having a heck of a day. We won't see any filings from them again until August w/ the 10k, as per past history. I wonder if they will PR the progress of their Only Sweet launch. It's been fairly quiet so far.
cl001- I just believe that LIM & RNO received less than market bids. I've owned LIM since about 8.5 and RNO around 2.60 so I got in after some of the veterans here promoted these companies, but I still saw some value. Luckily I've been taken out on LIM for 150% more than I paid. RNO I thought I was smart enough to trade, but got out a couple days before the deal announcement. Only bought back in after seeing how there was a counter on LIM assets, I figured probability for it to happen at RNO is similar consider the paucity of the bid. My downside risk is limited due to the outstanding bids and the fact the deals are cash deals. According to the market there seems to be possibility of another offer for both these companies, since it's trading above deal price.
Just as I was a little late on LIM & RNO, I'm probably late for your junior miners as well. You guys have done well on these and that's an enviable record. I'm in the slowdown camp following this year, so to me at these price levels a lot of these to me do not provide sufficient margin of safety. Metals prices have been volatile and things have gotten a bit heady for me. The only junior miner I was able to get in on was TRGD at around .35.
RNO - my thoughts from the other day in this link...
http://www.investorshub.com/boards/read_msg.asp?message_id=19344537
A risk, but so much buyout activity RNO seemed like it was being stolen.
LIM - What the heck is going on? The price on the TSX is $23.6, well above the offer of $21.5. That's 10% over the new bid, so market believes a higher offer is on hand for at least 10% more.
On that presumption I went ahead and bought some RNO at 4.84. Xstrata was a steal at 4.5x cash flow on their initial offer and now the stock is 27.5% above their initial offer. RNO offer of 4.30 was at 2x cash flow and currently trading 12.5% above current offer. I would imagine with the deal frenzy we should get more bidders for RNO as well. So risk is short term loss of 12.5% if 4.3 deal closes or I'm guessing 20%+ on competing offers. Likelihood of deal breaking at 4.3 I feel is very slim given the low purchase price relative to cash flow and all cash deal.
This new offer puts it in line w/ other recent offers. I was looking forward to a bidding war. Hope what they say about a counter from Xstrata is true.
From one of my previous posts...
Xstrata takeover of LIM - 5.8% prem over prev. close and 16.5% prem over last 30 days.
Teck Cominco takeover of Inco - 20.1 % over prev. close and 27.8% over last 30 days
Freeport takeover of Phelps Dodge - 33% over prev close
Paladin takeover of Summit - 28% over prev close and 36%.9% over last 15 days
Quadra takeover of Equatorial - 32% over prev close
Harmony takeover of GoldFields - 29% over last 30 days.
No details of the licensing arrangement, so I'm not sure if I agree. Scientific Games is a great partner for them to have. It makes distribution of their product that much easier. I'm sure they needed to make it beneficial enough for SGMS to cannibalize their existing lottery products. I'm still long until I see a filing or two if they can hit their guidance.
TRGD - Got some earlier in the day at .94, not exactly stealing them. Keeping some powder dry in case I can get it lower. Not sure if this will happen considering the support at this price range the last time it dropped. I would never considered myself a good trader though. ;)