Bought a few EGMI...
Company is forecasting '07 EPS of $.04 vs current $.19 stock price....
(DOW JONES) DJN: PRESS RELEASE: Electronic Game Card Announces Guidance
DJN: PRESS RELEASE: Electronic Game Card Announces Guidance
Electronic Game Card Announces Guidance
NEW YORK and LONDON, Dec. 4, 2006 (PRIME NEWSWIRE) -- Electronic Game
Card(tm), Inc. (OTCBB:EGMI), the creator of a proprietary credit card-sized
pocket game combining interactive capability with "instant win" excitement
called the Electronic GameCard(tm), today announced guidance for the
remainder of the current year ending December 31, 2006 and for the year
ending December 31, 2007.
For the current year ending December 31, 2006, the company is projecting an
operating loss of $0.03 cents per share on operating loss before financing
costs of $1,413,633 (financing costs in relation to March 2005 offering will
equate to a one-off non-cash charge of $4,360,203). For the year ending
December 31, 2007, the company is projecting earnings of $0.04 cents per
share on net income of $2,002,000.
"During the course of this year the company has made significant progress as
it begins to commercialize its proprietary Electronic GameCard(tm) Platform.
During the past twelve months, the company has focused on increasing the
robustness of their current games software whilst developing additional
games software programs. In addition, the company has been focused on
building out additional markets for its Electronic GameCard(tm) Platform
whilst its partner, Scientific Games, the world's leading provider of
lottery scratch card tickets, has been focused on increasing sales in the
global lottery market.
"Our recent success in significant new markets alongside the recently
announced simplification of our capital structure has now enabled us to
publish earnings guidance for the forthcoming year. Although we are
projecting that the majority of next year's income will come from the new
markets that we have recently established, we are also confident of
achieving significant penetration in the global lottery markets. The initial
lottery take up has taken longer than expected but the GameCards are now
retailing successfully in two U.S. states. If the sales results from these
two States are extrapolated across the other U.S. states that sell $20
scratch cards tickets this would result in significant sales volumes,"
commented a company spokesperson.
This is not a reco to buy! Please do your DD!
