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When you look how wound up some of this investments and banking choices EGMI has made, it no longer looks very simple to locate assets or accounts. Not surprising that the resolution is not simple.
Can anyone tell me why a company would have so many shells if it weren't trying to hid a pea?
It would seem to me to go through that many macinations, it would be materially costly to the shareholders and a nice way to skim transactional costs away from any business plan.
http://firstlondonsecurities.com/news/?id=102&linkidentifier=id&itemid=102
Anyone talke to anybody at the SEC lately? Would they tell us if EGMI has been in any contact with them regarding cleaning up the issues?
Sorry, not going to pull up the link, but was on the page today that shows EGMI holds 10 million shares of Prize Mobile.
Thanks for the links Pontiac and KingDD.
Did I read on this board that no one found anything relating to recent quoted prices for Prize Mobile or any recent business activity for Prize Mobile? Thanks.
I would hope to assume that the conditions upon which SC Games can re-up the control would have to be based on the amount of penetration/cards sold achieved in the US Lottery Market. Meaning we are done sitting on the shelf in the US Lottery Market. GoodBye Scientific Games, thanks for the few million and focusing the company around the world.
They have the ability to extend the contract PROVIDED certain conditions are met. I do not believe they have shared what those conditions are with the street.
Man, I am a working fool, trotting back to my monitor when I can to check in here.
So appreciate you using your time to do stuff like this...THANKS.
Anna's husband, Josh, comes from a family of Casino operators. Floating Casino's? Would they pay her 375k to get the cards in the door?
The couple met seven years ago when Houssels was general manager of Star City his family own Showboat, the American casino operators and love, as they say, bloomed.
Thank you for the playbook.
OT
LOL ask Arthur Andersen or anyone who used to work in Enron Finance.
I believe the answer to be, 'Not legally.'
Yes, I, too, have been holding throughout.
Getting antsy for clarity.
Although I could be flattered to think my postings would matter to the share price, I think you missed the intent of my post.
A post was made to say that the EU Distributor of the EGCâ„¢ Electronic Gamecardâ„¢ bounced the inquiry forward.
What does that exactly tell us?
Well I attempted to say two things:
1) It could be proof we are being aquired.
2) Could mean the EU Distributor of the EGCâ„¢ Electronic Gamecardâ„¢ is no longer.
In other words, it doesn't tell us much.
I believe I have the right to not being able to get my head around the thought of 24 billion gamecards.
Further proof they are getting folded into another entity OR doubtful they are still a going concern, which makes a claim of 24 BILLION EGC Gamecards printed highly suspect.
Pontiac, I too, am completely baffled by these numbers, I could not believe it when I first read your post. I went to the link and read what you are saying. It is all there in a brochure, but still a very unbelievable number nonetheless.
Wondering if there is this utter stockpile ready to go, probably sans batteries, but waiting? This would be more than HUGE and lends itself to my conspiracy theory of trying to shake weak hands before exploding as each share could be worth MAJOR MAJOR bucks.
Please people, this may not translate in a message board, but I am not really on board with my thoughts on an orchstrd attmpt at share price manipulations. Just jawing.
Thank you, if that is the case, then the MM's are standing behind the books, right?
The SEC action was to not allow a broker to quote a price until they themselves assumed the responsibility that the books were good. I only am thinking this from reading here.
From Gray to Pink? Anyone know what the distinction/implication means?
Would insiders and large percentage holders need to file if they were buying/selling since we started on the gray market?
Just curious if these volumes are all your every day retail traders/investors.
Goodbye and good luck to you.
Can I offer a speculative reason they are using the same address?
Not that they are trying to hide anything, but it seems like, through their investments, the management maybe taking liberties in using the cash from EGMI to set up their own 'distribution' partners.
This is to either fraudently claim to have been successful in forming thrird party relationship partners, or to form a sort of marketing arm themselves to push the card products. Would be very nice to know the financial structure of at what prices EGMI is getting for any sales made.
I wonder, if like Scientific Games, these marketing start ups are paying EGMI any type of stipend in order to be a licensed reseller of the game cards. As I type, I think that would not make sense as these promotion attempts are not exclusive.
As stated by others, we that have been here a few years are aware of the seemingly very successful business model of having third party companies taking the onus of purchasing our cards, marketing our cards, and in some instances, even agreeing to manufacture our cards to sell into their own channels.
So, do these 'arms length' companies compete with EGMI's potential other clients?
The UK. PokerwinningSeat thing seems like an excellent spot for EGMI gamecard products.
Part of me has been very suspect of an orchastrated attempt to wrestle this company away from the current shareholders as of the end of last year into this year as many irons have been in the fire with EGMI for a few years now, potentially very lucrative irons, and they told such a good story that fools like me loaded up at very low levels. As this thing continued to become a 3 bagger, 5 bagger, 10 bagger, and yes even a 25 bagger for some...it was acquired in larger amount by the likes of Ian Cassell---Who's motto is something I tended to agree with....Namely
"Life is Too Short to Diversify" So He and his Ilk, me and my Ilk, and many here and their Ilk, (Grupup on down) may hold simply too many of the overall float. After LS death (He too, by-the-way, seemed to have a very healthy appetite for these shares) this power struggle people here keep mentioning, may indeed be a share grabbing struggle.
Company has limited number of shares left floating around, insiders, with some pending actions and deals coming on may be restricted on acting on this information directly and at the formerly higher price per share, just muddied the waters to the best of their abilities for awhile. It worked to the tune of 2.5 million shares possibly.
Disclaimer: The above continues a long line of my silly attempts at finding 'Alternative possible scenarios' to the understanding of what is taking place to my beloved company, as well as marking time til we get those corrected books.
.55 was a typo on the order. Must be an inside buyer, most likely EGMI's typist on the PR's they release.
Wondering if there is cause against Mendoza to sign then retract accepted books without not enough manpower available to timely address the issue?
Also missing from the Confirmed list. They may be really dead, or Blacklisted by Roth.
I checked it a day ago and it was still there, now gone huh?
Don't like that.
Nice eye for the details. Great catch on the use of the word 'former' as well as the appearance of a non-extensive search. (cronyism)
Shooting from the hip, but my feelings towards the UK bank account and various under the radar stock as payment type transasction seems to me like a bit of fancy financial footwork to get someTHING that SOMEONE at EGMI needed for either themselves or the company.
In other words, either a FAVOR, was being taken care of, or remuneration, or compensation for direct/indirect services. Hate to think nepotism, cronyism, elitism, or dabbles of embezzlment.
Because this account in question goes back several years, the impropriety (if any, because all the above is just hypothetical) may have been done on the sly several years ago as EGMI scratched and clawed its way to business deals. Lo and behold, the account was 'sort of' there, thereafter only be descovered later, which places the subsequent years in question because of this one thing.
Reason this is taking so friggin long is because those with their hands in the cookie jar have been looking for outs to this situation without having hands slapped.
What, then are citations? What is the relevancy of 5 of them?
Thanks.
A patent from many years ago certainly ages in the modern marketplace. There have been a number of fits and starts in relation to the one trick pony of the gamecard. They have been announcing many off-shoot products with accompaning 'foward looking statements' complete with every qualifer known to man.
So these 'irons in the fire' CirQ, Thomas, Incredible Sporting Relationships, Promotions, Japan, China, Walnut Shell Walnut Shell, Walnut Shell. Where is the Pea?
Couldn't get the link to work, can you elaborate on the various patents. All game card related?
Thanks
Thanks for the thoughtful reply. I am voting with my shares, meaning that I am still holding every one.
Still trying to pursue those "plausible negative scenarios" to counter the reality I thought I knew when I averaged way up in buying shares in the 1.50 range.
Throwing things out there to see what sounds like it could stick.
The more I attempt such endeavors, the more I sound like a conspiracy advocate, but they are things that have happened before.
What I meant by work around is what I commented on earlier. Not a copy of our game, but beta max vs VHS. Another product for the same space much better funded and brought to market better.
Apple was the better technology, years and years ahead of the PC, but here we are today.
So did Scientific Games sit on EGMI long enough to model the business niche and perform a work around to create competition in or very near the same space?
oh, these below over-the-counter trades are a very scary place to be.
If holding, you just have to hunker down and thank egmi for the small little, 'no material changes expected' statement they offered (even after being pitifully late by hours).
convenient
Sorry, can't answer that one.
I have to dissagree. Company had what, two weeks to post such a statement. Knowing that this would be battered around the grey market they sit on their hands before offering this to the poor common holders? Some were most definitely harmed by no information coming from this company and chose to bail. What about the ones that mistakenly sold' at best price and were subbed out for those sitting on the bid at 10 cents!?
TY,
Wonder what the market will give by way of valuation when the brokers are allowed to quote a price for this?
Players seem to be thinking in the range of 1/2 of a haircut from last quoted prices, but who really knows what we are currently looking at? What I mean is that if any insiders were buying the heck out of this company and using proxies up until today, all of it gets washed together quite nicely for them to ship out those shares to a few 'newbie' accounts no doubt.
I will wind down my market activities I think.
where are you watching these trades go by? thanks
As I have stated here many times, my white knuckles have held onto every last share, very sorry for those that got in high and bailed here today. I can not blame you one bit. I think you have cause for a lawsuit, maybe not the class action kind, but the very real kind that you can show what types of losses you incurred by the late pr offered by the company. I suppose the company would have to prove something material in way of why did they let this thing open on the grey boards without offering ANY kind of supportive word? Can they show that there was some major breakthrough right before their post?
Again, it is my feeling that the fix was on and now we will see a parade of positive news stories...They got their couple million shares rested out of scared holders...
Can someone correct me in that what we are seeing as a 'quote' is not a quote per se, but some of the trades that are being matched up on the grey market?
Just as I thought, calculated move, in my opionion, to NOT make any effort on announcement before it was allowed to be battered in the GREY MARKET. In a sick way, I believe they will now do what it takes to get the PPS way way up.
Grampie, Personal life is excellent at present. Quite rung out with this action here.
Where did you get the warrants?