Electronic Game Card, Inc (fka EGMIQ)

[okvestor]

RE: "EGCI continues to explore its strategic options, which may include filing for bankruptcy protection" from the EGMI press release of May 18, 2010.

Two thoughts on this as a strategy: (a) a bankruptcy trustee has tremendous legal power and can move very quickly to secure and protect company assets, potentially including the disputed cash accounts and other assets, with any disputes to be sorted out later in an open and judicial manner, and (b) if there were no company assets or operations to protect, there would be no need to file bankruptcy.

While my initial reaction to this press release was negative, after further reflection I believe there may actually be some potential positives represented here.