EGMI Signs MOU to form a strategic partnership with POKEN
Electronic Game Card, Inc. (OTCBB: EGMI) (“EGC” or the “Company”), announced on October 12, 2009, that it has signed a memorandum of understanding (“MOU”) to form a strategic partnership with Poken Holding AG (“POKEN AG”), a privately held company based in Kilssnacht, Switzerland that owns the POKEN product and related intellectual property (“POKEN”). POKEN is a next-generation RF technology-based social networking platform. www.doyoupoken.com
Poken Explained from Poken on Vimeo.
Under the terms of the MOU, EGC and POKEN AG plan to form a joint venture that is intended to have the exclusive rights to market, sell and distribute POKENs in North America. EGC would own sixty percent (60%) of the joint venture and POKEN AG would own the remaining 40%. In addition under the MOU, EGC would become a strategic partner of POKEN AG by investing approximately $500,000 in POKEN AG in exchange for approximately 3.45 percent ownership of POKEN AG. Upon completing the investment, EGC would have one of six seats on the POKEN AG board of directors.
Disclosure: LONG EGMI
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Hello Ian,
Two major strategic partnerships in one day! I was waiting to add more after what I project will be some near term mkt decline (just my opinion), but now there may be urgency to accumulate these shares?! This good news is killing me!
Steve
Yes, I think both of the deals are equally as important. Good days ahead. Now all we have to do is get all these stupid sellers out of the stock.
IC
Stupid sellers can open a path for smart buyers. I fear we won’t be seeing too many more of the sellers on this one as it feels like, unless management stumbles, we have crossed a critical point in perception of long term value.
I started buying EGMI quite a while ago after reading your early analysis and I want to sincerely thank you for the tip.
If you have an interest in the oil patch, you might want to check out EXXI. Lots of potential in this one.
Thanks for your analysis.
Thanks Steve for the kind comments. EGMI is going to be a huge winner even from here. I had a lot of new guys at the Roth conference who met with the company and came away very impressed.
IC
Ian,
If EGMI will have exclusive rights to sell in the US, how come there are already 6 website were you can buy them now is the US
http://cms.doyoupoken.com/web/guest/resellers
Ed:
Good question. They are finalizing the agreement with Poken right now. These US websites will be forced to buy from EGMI or dissolve.
IC
Hello Ian do you see any synergies between EGC game card’s and
Poken.?
Also when EGC revenues start ramping up cash flow per share should spike, IMO making it a target. What do see?
Lord steinberg is sure putting his money where his mouth is.
Yes, I believe there could be some synergies in marketing both as a package.
Hello Ian
Last two days have been punishing, see any reason. Or is this just the product of beeing thinl traded.
I found it I think.
Lord Steinberg Dies Monday night.
He owned som 3 million shares or more.
Perhaps one of fears is these shares will wind up on the market.
Al
[...] Poken DA Signed: I would expect the definitive agreement to be signed shortly, as I know EGMI’s phones have been [...]