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Author Topic: EGMI - .53 - Electronic Game Card Inc.
Peaser
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This might turn out to be a nice long here. The company has turned the corner it appears into profitability, well this year so far anyhow.

They do have an accumulated 27 million in debt, from as far back as 2000.

48.3 Million Outstanding Shares
47.8 Million Float

1.98% of the float is held by 1 Institution

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Buy Low. Sell High.

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The Green Demon
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testing its trend line right now....if it bounces off of it I agree. Right at its 50 week MA too so be careful this looks like it is going to pick a direction and go. I might have to ride the train if it heads north...could be a double!
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Peaser
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2 more new institutuions jumped on the wagon:

http://www.nasdaq.com/asp/holdings.asp?mode=&kind=&timeframe=&intraday=&charttyp e=&splits=&earnings=&movingaverage=&lowerstudy=&comparison=&index=&symbol=egmi&s ymbol=&symbol=&symbol=&symbol=&symbol=&symbol=&symbol=&symbol=&symbol=&symbol=&s ymbol=&symbol=&symbol=&symbol=&symbol=&symbol=&symbol=&symbol=&symbol=&symbol=&s ymbol=&symbol=&symbol=&symbol=&FormType=Institutional&mkttype=&pathname=&page=ho ldings&selected=EGMI

Total held by institutions now: 3.3%

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Buy Low. Sell High.

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Peaser
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Revenue continues to grow:

http://finance.yahoo.com/q/is?s=egmi.ob

Conference call for Thursday, May 15, 2008 at 10:00 a.m.

http://biz.yahoo.com/prnews/080429/cltu064.html?.v=101

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Buy Low. Sell High.

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Peaser
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My thoughts on growth for EGMI:

In a skaky economy, will folks turn to traditional things as Obama recently suggested in Pennsylvania, such as guns and religion?

Not likely...

I believe that lottery and alcohol sales will increase with a depressed economy.

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Buy Low. Sell High.

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Peaser
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Electronic Game Card Inc. Reports First Quarter 2008 Revenue Growth of 28 Percent Over Fourth Quarter
Wednesday May 14, 4:00 pm ET
Company achieves 130 percent year-over-year first quarter revenue increase and delivers $0.021 fully diluted earnings per share


NEW YORK and LONDON, May 14 /PRNewswire-FirstCall/ -- Electronic Game Card, Inc. (OTC Bulletin Board: EGMI - News; "EGC"), today reported financial results for its first quarter ended March 31, 2008. The Company accomplished significant progress during its first quarter of 2008, adding to its shareholder equity, building its cash balance, validating and protecting its technology and, further expanding its addressable market. Since year end 2007, Electronic Game Card has been issued its first series of patents, received Gaming Laboratory International approval, increased its customer base and recurring revenue stream and announced entry into two new markets.

The Company reported revenues for the first quarter of $2.3 million, an increase of over 130 percent from the first quarter of 2007 of $990,000, and an increase of approximately 28 percent from the fourth quarter 2007 revenues of $1.8 million.

The Company reported a comprehensive net income applicable to common stockholders of $1.3 million or $0.021 per diluted share for the first quarter of 2008 compared to net income of $215,000 or $0.004 per diluted share for the first quarter 2007 and net income of $1.7 million (inclusive of a one-time investment sale of $856,000) or $0.029 per diluted share in the fourth quarter of 2007. First quarter 2008 operating income was $1.4 million compared to operating income of $404,000 for the comparable period of 2007 and $956,000 achieved during the fourth quarter 2007.

For the three months ended March 31, 2008, Electronic Game Card's gross profit on revenue totaled $1.7 million or 76 percent of revenues, representing the fifth consecutive quarter of gross margin in excess of company's target level of approximately 70 percent.

Operating expenses during the first quarter 2008 totaled $367,000, an increase of approximately 11 percent over the first quarter 2007, which was attributed to an increase in general and administrative expenses of $24,000 and an increase in consulting expenses of $56,000 that was partially offset by a reduction in salaries of $25,000 as the company continued its shift towards outsourcing. Importantly, operating expenses declined by approximately 36 percent from the prior fourth quarter 2007 predominately as a result of completing the development of proprietary games, which lowered consulting costs. As the company expands its existing reach and launches new markets, management expects to add resources, but will adhere to established profitability targets.

Interest expense incurred during the quarter was reduced by $20,000 over the previous year first quarter to $148,000. This compares with interest expense of $163,000 in the fourth quarter of 2007. Interest income has been steadily rising from $43,000 first quarter 2007 to $49,000 fourth quarter 2007 to $62,000 first quarter 2008.

Cash and equivalents on March 31, 2008 were $5.7 million, an increase of approximately $954,000 from December 31, 2007 balance. Accounts receivable increased by approximately $300,000 to $2.6 million over the same period. Total liabilities declined by $56,000 over the three month period to $1.9 million, excluding the 6 percent convertible redeemable preferred debt, which has been reduced by approximately $1.0 million to $6.5 million since year end 2007.

As of March 31, 2008, Electronic Game Card had approximately 50.0 million shares of common stock outstanding, an increase of 2.0 million shares from year end 2007, predominately attributable to conversion of the redeemable preferred debt. The Company's weighted average number of common shares fully diluted totaled 62.5 million (inclusive of the all options, warrants and the convertible redeemable preferred debt). The aggregate proceeds if all options and warrants were to be exercised would total in excess of $4.0 million. As of March 31, 2008 the Company had net operating tax loss carry forwards in excess of $21 million that may be used to offset future taxable income through 2023. As of December 31, 2007, Electronic Game Card achieved positive stockholders equity for the first time in the Company's history. On March 31, 2008, the Company's stockholder's equity totaled $3.9 million.

"As anticipated, first quarter 2006 marked the beginning of a profitable revenue growth period for the company. Over the past two years EGC was right-sized and has embraced a business model that is now highly profitable. Now that a strong foundation has been established, the company has just completed its fifth consecutive profitable quarter, the company is focused on organic revenue growth as well as expanding its addressable market while maintaining a tight cost discipline. The company's goal for 2008 is to penetrate new and existing markets, continue to grow patented IP and build successful distribution partnerships. The company has made progress in all three fronts thus far in 2008 and has comfortably raised guidance last month to $11 million and $16 million in revenues, $0.10 and $0.14 fully diluted earnings per share for 2008 and 2009, respectively."

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Buy Low. Sell High.

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T e x
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wow.. you been posting.

Good to see [Smile]

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Nashoba Holba Chepulechi
Adventures in microcapitalism...

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Peaser
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Once in a while.

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Buy Low. Sell High.

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osubucks30
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So far from what I have read this little company looks interesting. Thanks!
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osubucks30
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Its at a 2 month high. This one will now be on my watch list. Hopefully it will pull back into the .40s. If not I won't buy. Nice job for those who got in during that period!

Plus the accumulated losses of $21 million will help them by reducing taxes!

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osubucks30
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quote:
Originally posted by Peaser:
My thoughts on growth for EGMI:

In a skaky economy, will folks turn to traditional things as Obama recently suggested in Pennsylvania, such as guns and religion?

Not likely...

I believe that lottery and alcohol sales will increase with a depressed economy.

I was thinking the exact same thing.
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Peaser
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quote:
Originally posted by osubucks30:
This one will now be on my watch list. Hopefully it will pull back into the .40s.

The .40's showed up briefly the past two days.

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Buy Low. Sell High.

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Peaser
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A competitor of EGMI: FLL on the AMEX, recently doubled in share price over the past two months.

It sure would be nice to see EGMI move in similar fashion to FLL.

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Buy Low. Sell High.

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George
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HEY Peaser. Long time. I check in every now and then.

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If all goes well then great, if not, make it work.

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Peaser
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Hey Geo, it sure has been. I try not wasting much time on these boards anymore. It's just too much of a waste in my eyes.

I drop in from time to time as well, as I find something that looks to be of value for the penny-traders.

I've been focusing on the big boards mainly. I still dabble in the penny wasteland from time to time though.

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Buy Low. Sell High.

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T e x
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hey, fellas...

good to see you both.

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Nashoba Holba Chepulechi
Adventures in microcapitalism...

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Peaser
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Well, this finally crossed the 200 DMA today.

I've been waiting a while to see it.

Slow and steady growth is nice to see.

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Buy Low. Sell High.

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Peaser
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Lord Leonard Steinberg, Founder of Stanley Leisure Ltd. Agrees to Become Chairman of the Board of Electronic Game Card, Inc.
Friday June 6, 7:55 am ET
- On June 6, 2008, Lord Steinberg filed as a 5 percent owner of Electronic Game Card, Inc.


NEW YORK and LONDON, June 6 /PRNewswire/ -- Electronic Game Card, Inc. (OTC Bulletin Board: EGMI - News; "EGC"), announced today that Lord Leonard Steinberg has agreed to join the Board of Directors as Chairman.

Lord Steinberg is one of Britain's most successful businessmen and one of the most well known personalities in the gaming industry. He founded Stanley Leisure in Belfast in 1958 with one licensed betting shop. Stanley Leisure plc became the largest casino operator and fourth largest retail bookmaker with 600 shops in the United Kingdom.

In 2005 Stanley sold its retail bookmaking operations for 504m pounds Sterling (approx US$1billion) and returned 327m pounds (approximately US$650million) to shareholders. In 2006, Stanley then sold the 45 casinos to Genting International for approximately US$1.3billion

During Lord Steinberg's tenure, Stanley Leisure grew both organically and through acquisition. In the last five years as publicly quoted company Stanley Leisure generated total shareholder returns at a compound annual growth of more than 25 per cent.

The acquired businesses were cultivated by adding seasoned management, structural renovations, synergistic business-lines, and improved locations. Some acquired businesses were relocated into special purpose built facilities, such as the Circus Casino Birmingham Star City, which is the largest casino in the United Kingdom.

In addition to his highly successful business career, Lord Steinberg was made a Conservative Life Peer in 2004 and is an active member of the House of Lords in the United Kingdom. He is a well known philanthropist and is a member of the Board of Directors of Medgenics, a U.S. incorporated biopharmaceutical company, L Sports Investments Ltd., Stanley Bet Holdings Ltd., and Stanley Bet Overseas Investments Ltd.

Commenting on Lord Steinberg's involvement, a company spokesperson said, "It is with great pleasure that we will welcome Lord Steinberg to our Board of Directors as its Chairman. His highly successful career is reflective of his business acumen and drive to achieve excellence in whatever he undertakes. Lord Steinberg's experience is well suited to meet, and exceed the strategic vision of EGMI as it expands in international markets and pursues further market share gains with superior, well positioned products." The spokesperson continued, "We believe that the fact that an accomplished business leader of Lord Steinberg's caliber has agreed to become chairman of the company is validation of the company's business. In addition, as the company enters the next stage of its development having an accomplished Chairman with a track record of large public company leadership will be invaluable. We especially welcome his leadership in the selection process for new members of the company's management." Lord Steinberg commented, "Electronic Game Card is an innovative product that addresses an extremely large potential market. I am a strong believer in this technology and have thus recently purchased in excess of 5 percent of the stock in the open market. With the addition of my established contact base and business and industry experience I believe that this company has extremely exciting prospects and I look forward to taking the company and the product range to the next level."

In addition to Lord Steinberg, the Electronic Game Card, Inc. Board of Directors has also nominated Eugene Christiansen and Anna Houssels to serve as non executive directors. Mr. Christiansen has been active as an executive and consultant to the commercial gambling and entertainment industries since 1976 through New York based Christiansen Capital Advisors. Mr. Christiansen has conducted studies of the economics, taxation, financial structure, and regulation of casino gaming, pari-mutuel wagering, and lotteries, and has counseled Manhattan and Washington, D.C. law firms in legal proceedings regarding gaming issues. Mr. Christiansen is the author of numerous articles dealing with casinos, horse racing, greyhound racing, jai alai, off-track betting, lotteries and related activities in trade, professional, and academic publications. He prepares authoritative statistical reports that are widely used domestically and abroad recognized throughout the world as the most comprehensive and authoritative description of the gambling industries of the U.S. Mr. Christiansen has co-authored an influential academic study of gambling, The Business of Risk: Commercial Gambling in Mainstream America (University Press of Kansas, 1985), and is a member of the advisory boards of the National Council on Problem Gambling and the Institute for the Study of Gambling and Commercial Gaming at the University of Nevada, Reno.

Ms. Houssels is currently Vice President of VIP Sales for CityCenter in Las Vegas, an US$8 billion mixed use real estate project developed as a joint venture between MGM Mirage and Dubai World. In this capacity she focuses on expanding the sales network through VIP customers and referrals, and liaising with MGM MIRAGE key executives plus international and domestic casino marketing teams. Her responsibilities include leading event sales nationally and internationally, and developing new sales leads through "business to business" channels, as well as professional and social personal network associations.

Prior to Las Vegas CityCenter, Ms. Houssels worked for The Mark Company and RLM West Luxury Real Estate in California as well as Ezra International Realty in Las Vegas. Her experience also includes buying, renovating, and selling luxury high rises in Australia and the United States. She most recently owned and operated Houssels Properties; a Las Vegas real estate firm specialized in selling exclusive residences, many of them high rises, to local and a large international network.

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Buy Low. Sell High.

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Peaser
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Nice 'lil pop today.

Looks like the first level of resistance has been taken out, due to the low volume and pop in pps.

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Buy Low. Sell High.

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Peaser
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TheStreet.Com came out with an upgraded rating to Hold for EGMI on June 9th.

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Peaser
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Closed at HOD .75

Up 41% from .53 and looks to be climbing higher IMO.

I still believe that this will double from .75 in the coming months. As I mentioned in the beginning of this thread, this is a long term hold for me.

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Peaser
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I wonder if .80 might just be in the cards for today??

RSI is high, the 200 + 50 DMA are about to cross this week it appears.

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Peaser
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Well, didn't see .80 today. Close at .7599

I might just have to wait one more week for .80+.

Slow and Steady sure beats fast and furious(like with most OTC's)

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Peaser
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LOL, hit .795 early on a rather large volume day. It's nice to see the RSI back under being overbought(under 70 RSI for any newbies).

'RSI is high, the 200 + 50 DMA are about to cross this week it appears.'

Looks like I was wrong on this one, it appears that I'll need to wait until next week for this to possibly occur.

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Buy Low. Sell High.

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Peaser
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For anyone in this short term, be careful as the MACD is about to reverse.

Long termers, no worries IMO. The MACD should move back in our favor in a month or two.

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Buy Low. Sell High.

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Peaser
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MACD reversal the past few days.

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Buy Low. Sell High.

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