Spoke to IR this afternoon.
Yvonne was out, but Joe Zappulla spoke with me. I didn’t ask many detailed questions, as covering EGMI isn’t his job, but some interesting points:
BOARD MEETING. This has not happened yet, which would explain the company’s silence on the CFO and new Board members. Lee was traveling when they expected to meet earlier, and they should be meeting shortly. (Wmthecommoner, post #9524, says it should happen Thursday.) This was one of the most important points, as I had thought the Board meeting had taken place a couple of weeks ago, and I think most of us expected some news after that. They have several good CFO candidates and several potential Board members who are interested in joining the company.
NOLS. It sounds like there’s a good chance that the NOLs will reappear. Apparently the problem had to do with tax preparation overseas (where, as we know, most of the revenue has been) and once the proper filings are made the NOLs should reappear. They are fairly confident about this. I believe another poster mentioned that Yvonne has said that they took the worst case scenario in the 10Q, which Mr. Zappulla repeated today.
STOCK PRICE/RUMORS. He said that there have been some negative rumors floating around concerning revenues and that the company has said those rumors are not true.
CHINA. They had good meetings, Lee one week, Eugene C. the next. There are still some manufacturing license regulatory things that are being worked on, which should be relatively easy since the cards are made in China. They may not have yet finalized the three provinces for initial testing. I don’t have it in my notes, but I think he said Eugene was very positive on his return and strong in his belief in the potential here.
SPORTS. I mentioned sports and Mr. Zappulla said that Kevin has great sports contacts. He mentioned something I didn’t quite catch about NFL executives “coming over” plus MLB and NBA contacts
