My take? Move along... Nothing to see here.

Grampie

Interesting? Really?

I'm sorry, but your premise is absurd on its face; the downside is 100% of what you invest, just as it has always been. $2/share is literally laughable; frankly, any return for shareholders is exceedingly unlikely; the money (if it exists at all) isn't even in this country. Good luck on getting that back, or of going after a foreign national's estate.

The company is generously worth the couple of pennies it's trading at. I'd say its expected value is less than 1c.

Grampie

No apology necessary. It's often hard to discuss these things rationally when there's money on the line. Nobody wants to feel like they've been had, and I've been had by these same people before. Part of me still hopes there's a happy ending to this one for the sake of those still holding, but ... One of the lessons I learned long ago is that hope is NOT an investment strategy.

Grampie

The assets aren't even in this country; good luck with that.

I'm really sorry for those of you who lost money on this; hopefully, something will at least be learned, albeit the hard way. I've been hurt badly by this sort of thing before, and it always plays out the same.

Unfortunately, I've been here before; it could be many months before we know much more.

Now 10c; I guess we didn't know that either...

Here's what we know for sure about EGMI at this point...

NADA.

Grampie

LOL!

I'm really sorry, but this really pathetic; the odds of your receiving any information from EGMI are precisely zero. These guys couldn't give a rat's a** about you or any of the other shareholders. They are either trying to run away from this, or trying to salvage their own positions; nothing more. You'll find out along with everyone else, and probably not for a long while.

There's no particularly good reason to hold EGMI at this point. It's a crap shoot, and the gamblers have moved on.

Aftersoft is one of LC's best. Look also at AVNA (went from $10+ to .04) and EBOI (now at $.0006); there are others as well... His record is very hard to match.

Thanks for that update... Virgin Islands, huh? Figures.

ricassetmanagement.com was registered in July, 2009, by the way. The owner is hidden.

Um, w3.org is the www consortium, and that reference is to a definition of XHTML. This has nothing to do with EGMI or any other company.

Grampie

Wow; lottery product of the year?? Um, that was five years ago, right? What's happened since? SGMS stole the idea? What happened to the valuable IP rights that EGMI has? Where's our lawsuit against SGMS? Traction on some marketing deals? With whom, exactly? And what are they worth? Sternberg bought heavily into the company, true. But we have no idea what he was told, the state of his health, etc. And then "probably some infighting"; ya think?

You may get your money back somehow, but the company is a complete and total dog.

Grampie

Anyone with half a brain would realize that EGMI has never had a successful product, just a lot of half-baked ideas and business schemes. So what have we got: no products and no management. Just some 7 year old IP, investments in various related businesses, comical infighting (sorry to those who've lost money, but you couldn't make this s*** up!), the prospect of YEARS of lawsuits (which will probably enrich a number of legal firms at shareholder's expense), etc. This is no investment; a plaything, sure, for people like losing, who are playing with the house's money. But the idea that there's a business to salvage here, rather than some bones for financial firms, attorneys, stock promoters and the like to pick clean, is ... well, it's patently absurd. I hope those of you with losing positions do well, and I can see not selling at this point, but there are FAR better places for money now.

Basically, these all related entity, but not reported as such (perhaps they didn't have to, due to technicalities of ownership). So it's possible that they're trading each other stock, and using the value of that stock as assets and perhaps as licensing revenues. If so, that would be, well, fraudulent.

Prize Mobile? (Sorry, I haven't been paying much attention). But this is another company started by John Bentley, the founder of EGMI, who left due to "illness"? And EGMI has business with them? Um...

I mean the whole round was $8m, not my share (I hope obviously); that's where my warrants came from, and the stock that I sold a few years back at 55c or so.

I can explain some of the balance sheet stuff; they converted a whole bunch of short-term debt to equity when they force-converted bridge loans into common stock (I was an investor in that one; I think it was $8m) So that money basically went from debt to cash.

You'd think if they were selling enough to have significant revenues, there'd be some mention of the cards ... somewhere. Anywhere. As opposed to just on their site, and the sites of companies with whom they have some kind of relationship. Remember, they started out doing promotions, but their big break was the deal with SGMS to do lotteries. And how did that turn out? And the indian gaming idea has been around for 5+ years; what's come of that? Licensing revenues are great, as someone else pointed out - 100% margin. But at some point, the cards need to be sold, and I just don't see it.

I think the real question re: licensing revenue is whether the revenue is cash-based (great news) or, rather, equity or otherwise intangibly based (high likelihood of bogus valuation). Unless somebody is actually selling cards for cash somewhere along the line, it's all BS. So, where's the beef?

Again, his history is heavily promoting companies that have turned out pretty much worthless. This could be an exception, of course, but I don't think his track record is accidental.

We'll see...

$9m net a year from Europe? I don't think so. Who are the customers? What are the games?

I think they've sold next to nothing in the past few years, but we'll see. "Licensing" revenue could all be one-shot deals, deals with related entities, non-cash deals, etc.

Actually, all the facts are negative. It's the speculation that's positive...

You couldn't make this stuff up! Lee Cole and Linden Boyne have been around from the get-go (their names are on all the early paperwork going back to 2003-2004)... I continue to think the worst, but who knows? But I think it's highly unlikely there will be any news for 4-6 weeks or more.

I can't disagree with you there; as long as everyone realizes it's a roulette wheel, it's all good! (I'd just rather be the house on this one.)

The downside, as always, is 100%. As I've said before, there's nothing to show for 7 years trying to commercialize this technology. Just flaky deals, flakier management, and now the likelihood of fraud. I agree with losing that this is just a crapshoot - nothing more. Trying to rationalize a market cap is just ridiculous.

Grampie

So it's good news that KD is minding the store, but you have to be careful about the stock price. If the money's gone, the only way that EGMI becomes a real business again is a recapitalization - this will probably mean a bankruptcy or a highly dilutive round that effectively eliminates Lee Cole and his cohort (along with other shareholders). And that's the problem with the bullish case. From a trading POV, though this will probably generate something of a pop - question is whether you take advantage to get out, or buy more...

Grampie

Note that the extension filing didn't indicate whether material changes are expected...

Losing is right on here; the reason they can't pick at date for this year's 10-K is that it's dependent upon all of the previous reports. Expect this to take many months. FWLIW, I consider the filing to be relatively good news; at least someone is minding the store.

Grampie

In my experience, there's no such thing as a "basher" in a pejorative sense; in almost every case, those who you'd call a "basher" have been 100% on the money - the companies have been worthless. Pumpers, on the other hand, get away with murder (and I'd include dishonest CEO's of companies large and small here).

Like a deer in the headlights? Um...

That's not optimism, it's ignorance.

I'm sorry, but that is one of the dumbest things I've seen posted here in a while. Only 17c to lose, huh? LOL!!! And why is the upside 3-5x; why not 10,000x, since you're just making stuff up.

The thing is that there are some serious people here who are very concerned about the company and aren't playing games - for example, howsmydrivingal, who I met probably 6-7 years ago on some other board (maybe MCLD... not sure). Those people at least deserve to know the history of the losers who "run" the company - at that point, everyone can make his own decision.