Comments on: Electronic Game Card Inc. (EGMI) Conference Call 10AM EST Wednesday

By: alfred

alfred — Sun, 21 Feb 2010 16:29:56 +0000

Remember the so and so who forgot to pay the insurance on whatever; maybe there was no cash to do so ; or maybe he decided to pay himself a big really big bonus. Well what ever the scenario,come March 4th, we still won’t know the whole story. The broker dealers will hold all the cards, if the stock resumes trading at that time or soon after there maybe hope in the long run. lets not forget some firms had just up there shares significantly. Any way I have beaten this dead horse enough. I prefer trading commodities much more honestin many ways.

By: junewong

junewong — Sat, 20 Feb 2010 06:39:55 +0000

No matter what happens it won’t be good. I have been trying to be positive but it’s hard, especially after thinking about it in the last day or so. The one thing that I don’t understand is Lord S and is he connected somehow. I just keep thinking about Madoff and that whole mess. Hate to admit it but something is very wrong here

By: Pradeep

Pradeep — Fri, 19 Feb 2010 23:32:39 +0000

http://www.sec.gov/Archives/edgar/data/1083036/000119983510000094/electronicgame.htm

Dont know how much the restatement and “adjustment” will cost us…

By: Pradeep

Pradeep — Fri, 19 Feb 2010 22:20:23 +0000

Ian, is there any example of a company emerging out of a trading suspension and eventually trading at pre-suspension levels? I looked at the list of companies whose trading was suspended recently and things dont look promising.

By: iancassel

iancassel — Fri, 19 Feb 2010 21:21:45 +0000

Oh yeah, heads will roll.

By: Travis

Travis — Fri, 19 Feb 2010 21:12:42 +0000

So if the books are not clean can we expect that the executives will be hauled off to jail at least?

By: alfred

alfred — Fri, 19 Feb 2010 20:32:23 +0000

As I understand it, on or after 3/04/10 one or more broker dealers will get to examine the SEC case and determine if they want to make a market in the security, if the findings are really bad they will not and the stock is worthless. Keep in mind that Tricadia and Manatuck just filed 13G’s, lets see where they come in with this. ( In fact manatuck just emerged from a mess)

By: iancassel

iancassel — Fri, 19 Feb 2010 20:03:49 +0000

I think there are two scenarios, Not Good, and Really Not Good:

Not Good: The company can prove to the SEC that the books are fine by the time the trading halt is lifted. In this scenario the stock probably drops to 50-70c.

Really Not Good: The company doesn’t prove the books are clean. Well then pick a number.

By: Pradeep

Pradeep — Fri, 19 Feb 2010 19:51:37 +0000

I guess this means we, EGMI shareholders, are pretty much screwed. Will have to wait till next year to write off this investment. Is there any example of a company emerging out of a trading suspension and trading at pre-suspension levels?

By: IP

IP — Fri, 19 Feb 2010 17:38:48 +0000

Sorry, I mean it won’t be reopen for trading until 03/04/10. Thank you.