Electronic Game Card, Inc (fka EGMIQ)

[melissa1188]

February 12, 2010 1:13 PM EST

Merriman Curhan Ford downgrades Electronic Game Card Inc. (OTC: EGMI) from Buy to Neutral.

Merriman analyst says, "With the postponing of the business update conference call, we are stepping to the sidelines until we get more clarity on several issues. While we have no indication that the fundamentals have changed, and in fact, continue to believe that 4Q09 results were in-line with expectations, there are a number of corporate governance issues that need to be addressed and have been lingering for too long. The
company intends to provide an update on the state of business affairs on February 25, which was delayed from February 10 for unknown reasons."

Electronic Game Card, Inc. (EGC) is a designer and manufacturer of a gaming device.

http://www.streetinsider.com/Downgrades/Merriman