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Hey! Is anybody out there? This board is quieter than EGMI management. Did some one put a "Gag Order" on til the 15th?
CFO began Sep 1,09 and resigned Oct 21,09. These dates are from EGMI press releases.
Thank you very much. I agree with everything you said about the current situation at EGMI!!!!!!
I think Scientific Games soon after this release and with a new 10 year deal(3 years) only wanted to pay the minimum to EGMI and keep the cards out of the state lotteries. And maybe at that time EGMI could not produce enough cards for the demand. I'm not sure but I believe Scientific Games didn't want the gamecards to replace scratch cards,pull-tabs,etc. Perhaps someone else has a better explanation. In other words SG wanted to keep EGMI cards off the market.
Go to the EGMI website, Press releases for May 2, 2007. Press release by Scientific Games makes comments about the Kansas and Iowa lottery sales.
On the EGMI website under management. It says that John Bently and Gordon McNally are theco-creators of the gamecard.
I'm well aware of everything you say. But read the release as a refresher as part of why we may have bought in the past. I've been buying since '07 and am hanging-in-there!
I think everyone holding EGMI shares should read the ChinaLotSynergy press release of 13Oct2009. It is such a "glowing" release that any investor would want to purchase EGMI shares. ChinaLot uses such terms as "the renowned ElectronicGame Card Company,EGMI, of London. "EGMI products widely applied in international lottery markets, such as the United States." This press release gives me a warm, fuzzy feeling and I want to rush out and buy more. I'm not sure how many statements in this release are untrue(I hope none). But for a quick-picker-upper, read the release again. ChinaLotSynergy.com on Yahoo.
Tomato--Yvonne can ask management a very simple question about the Roth Conference. Either " you is" or "you ain't" And please advise Yvonne not to accept the answer "it depends on what the meaning of "is" is. Been there, done that. Thank you.
My broker shows open at 9:30, .35, vol 175 At 9:32, .43, vol 7,000 At 9:37, .37, total vol. 15,400 At 9:40, .40, vol 16,450. Very slow vol. I'll stop updating now
Would anyone care to speculate as to why LS handpicked KD & AH? We know LS was an intelligent and savy investor. Could he have been soooo wrong in picking these two? I'm having a difficult time believing he was that wrong and will wait til all the facts are out. I've been long for a very long time.
Tomato ---- would you please ask Yvonne to confirm EGMIs' intentions for the upcoming ROTH Conference. Maybe she can get an answer this coming week????? Thank You.
My broker shows last trade at .44 on vol of 5,317,627 and last trade time 3:59
As of: 10:08------.17, vol. 233,079 As of 10:18---.20, vol 303,389 Time for a little Desayuno. As of: 10:27, .23, vol. 410,714
As of: 10:08------.17, vol. 233,079---------------As of 10:14--.19,Vol 289,389
As of 9:51, my broker shows Open at .25, High .50, Low .10 Volume 125,209 As of 10:00----.15, total volume 189,229
As a last resort, EGMI could apply for some of those TARP funds. But I'm not sure management would stand for that since their pay would be limited by the Govt. Pay Czar and the company would have to be more transparent. Like Ollie says "we're in a real fix."
Imagine even Yvonne can't get-in-touch with anyone at EGMI. Was hoping to hear something, anything. As an earlier poster surmised, maybe they are in the "fetal" position ..............This deafening silence from management just does NOT make sense. I'm still hoping Yvonne will contact Tomato, and soon.
Tomato? Is Yvonne still too busy to talk to you?
Buyers to the 19th of FEB.
I believe Yvonne said she has a large position in EGMI. Does EGMI pay Grannus Financial with shares of stock rather than cash? Perhaps another means of cost savings.
Thank you for your very thoughtful and logical assessment of EGMIs' situation.
Excellent Post!!!! Would you share with the rest of us "where most of the major shareholders stand and their plan, along with the same for major individual shareholders? Also, how many shares are required to be a "major individual shareholder"? Thank you again for the excellent work.
I've been trying for :30 minutes to get to the egmi website, and also thru CIRQ. No luck. Has anyone gotten thru in the last few minutes?
I apologize for pounding on the disclosure statement by EGMI. However, after a quick review of 07,08,09 news releases, the disclosure statement did not change until after the 20/11/09 news release. I hope it is insignificant.
Compare the recent disclosures with those of 2007,08, news releases. Maybe EGMI was trying to prepare us for the SEC supension. I think the recent disclosures are very, very, excessive.
It seems that EGMI has covered-its'-tracks in almost every area.... Read the almost 3/4 page disclaimers after the News Releases by EGMI. e.g. this contains forward looking statements............
Thank You. I've tried the Grannus Financial number, e-mails, etc., to Grannus and info to EGMI from the CIRQ web pages. But have yet to receive a response after many attempts. Maybe Grannus does'nt return my calls because of my international number. But I would think someone from Grannus or EGMI could respond to e-mail. Imagine they all are very,very busy. Thanks again, and good luck!!!!!
Does anyone have a current commercial phone number for EGMI? For investor relations or the main office. I need area code as well, 800 numbers do not work from this international location. Numbers for NY and CA. Thank you inadvance.
The same auditor(MB) had also signed-off on 06,07,08. But that same auditor (MB) as of 2/12/10 was withdrawing those opinions for those years because of the problem(s) he had informed the board of 2/12/09 had not been corrected. The information presented by management to MB for those years could not be verified so MB withdrew their opinions. I'm sure there will be questions during the CC on Thursday concerning this and the CFOs resignation.
I don't believe the 2/12/09 was a typo. I hope I'm wrong, and that the board DID NOT know of the problem for over a year. I'm long (over 38,000 shares) on EGMI, and have been since 07. But I do believe KD would have paid particular attention to the 8K filed on the 19th to make sure everything was correct. I will ask KD this specific question, WAS 2/12/09 a typo as you say, or the correct date the board was orginally notified. Hopefully we'll get the answer from the HORSES' MOUTH to, as you say, end the confusion. I hope and pray it is a typo !!!!!!!!!!!!
If the CC is held on the 25th, there are several questions I want to ask, but the most important is Why Didn't someone on the board do something when the auditor notified the board on 2/12/09 of the problem. LS was COB, KD CEO and BOD, HOUSSELS executive Director of the Board, LEE COLE interim CEO over the past three years, Christensen BOD, and on and on. Why didn't one of these take some action to answer the auditors' question? Even after the CFO resigned, no one did anything. Then on 2/12/10, auditor again brought -up the problem, one year later nothing done. Finally, SEC stepped-in, and KD filed the 8K 2/19/10. It will be interesting to hear what KD says about the scheduled 3/15/10 presentation at 11:30 at the ROTH conference, to be followed by BALLYs at 12:00.
I dislike myself for even thinking something like this possible. I had,and still have, sooo much faith in LS. And I'm 99.9% positive that he couldn't have had control of that bank account and been buying all those shares from this account. I ask everyones' forgiveness for even having this thought, and most of all from LS.
Thanks for that post. I can't stop laughing (picturing that fetal position). I'm laughing soooooo hard my stomach hurts, -- thanks I needed that, since I'm long with mucho shares.
I'm sitting on 38,317 shares at an average price of $0.59. I'm hoping to hold-on, at least until the CC. I've been investing in EGMI since 2007 and still have faith in management and the company's future. Bought more today at $0.87.
RIGHT-ON, Johnboy!!!!!!!!!! Did the Walton's take too long to say goodnight? Does Charlie Daniels play a mean fiddle?
This is for all the Monday Morning quarterbacks that keep bad-mouthing management,especially Kevin. If you "can't stand the heat, get out of the kitchen." You can always take your marbles (sell your shares) and go home (buy some other stock). I don't believe anyone is forcing you to keep your shares, that's entirely up-to you. If you like EGMI, remember, the LS hand-picked Kevin to be CEO.
A 2/9/2010 Vector Vest Stock Analysis of EGMI says that the stock is undervalued and that the Fair Market value of EGMI is $2.70.