Electronic Game Card, Inc (fka EGMIQ)

[THE HuB]

IC wrote in his blog comments

I'm still 50/50 that egmi isn't a fraud. There is more information leading that it is not a fraud as I've confirmed relationships with Bally's and Sci Games.

But as we all know it doesn't have to be a fraud to completely destroy shareholder value. What did this company in was an internal management conflict between the current bosses and the old bosses (that hired the current bosses). The old bosses brought all the business to the company, and new ones did nothing but spend money. This lead to resentment on both sides and likely both sides trying to manipulate the system to kick out their counterparts.