Replies to post #10618 on Electronic Game Card, Inc (fka EGMIQ)

[wmthecommoner]

I am fairly confident the money is there. You might have differences due to currency loss translations, so the value on the books in USD might not match the value in Pounds or what ever denomination the account is in.

If it is not there, finding the culprit is normally not too difficult in forensic accounting. My problem is if you have a defalcation/theft, well that typically is a one time event. BUT if you have incompetence, well that lasts until you change the management.

In either case, ultimately the stockholders OWN the company and I have long said, about 80 large stockholders probably own about 80% of the company and if management does not want to act and communicate, the stockholders can elect a board that will find a management that will.

If answers do not come quickly, I envision Gurupup inviting us to Las Vegas to gather proxies for the annual meeting.

[mashupotatoes]

Sovereign constitutes a portion of EGMI revenue. Any failure on their part would have a direct impact on game card's cash balance. Link:
http://seekingalpha.com/instablog/582827-mattberry/55326-does-sovereign-game-card-work-out-of-a-condo-apt-pre-foreclosure

I could not reconcile egmi reported revenue with the game card manufacturer or find another manufacture during the relevant time period. Link: http://seekingalpha.com/instablog/582827-mattberry/55255-difficulty-reconciling-egmi-revenue-with-outsourced-orders-electronic-game-card

"I just read things in more detail and I'm not sure Sovereign could have anything to do with it. Unless I'm missing something it all comes down to an account listed as an asset by EGC in the UK. What worries me is that they might not have this cash and that's wny they have never done a buyback especially at these levels."