Replies to post #3776 on Electronic Game Card, Inc (fka EGMIQ)

[littlefish]

ab- based on the last sentence of your post, I'm going with your guess that the shares are just being transferred and were not sold. At least not from the Scout Fund.
"...As a result, no portfolio positions are expected to be sold, the investors said."
Good luck.

[Cambino]

If I recall correctly, IR stated that none of the Pequot shares were sold, just transferred to a new fund. The 13-G is just a reflection of the dissolution of the Pequot funds imo.

-Bino

[ambulance_blues]

Pequot did transfer.

A 13G was filed after the close. Looks like Pequot transferred nearly all their shares to the Manatuck Hill fund. That's around 8.2 million shares, or 13% of the company.

http://www.sec.gov/Archives/edgar/data/1083036/000119312509147433/dsc13g.htm

"Ownership as of July 10, 2009 is incorporated herein... consists of 3,980,582 shares of Common Stock, 999,967 shares of Common Stock underlying warrants and 3,282,148 shares of Common Stock issuable upon the conversion of shares of Series A preferred stock of the Issuer, in each case, held for the accounts of the Reporting Person’s clients."

This Manatuck Hill is not a new position. They were expected to take over the Scout Fund from Pequot.

"...The new firm will be called Manatuck Hill Partners and will continue to use the Scout name, said the investors, citing a letter from Broach sent out Thursday. The new firm will be based in Westport, Connecticut... Most Scout investors have agreed to stick with the fund and the entire portfolio will be transferred with the investment team. As a result, no portfolio positions are expected to be sold, the investors said."