Electronic Game Card, (OTCBB: EGMI) Files 10-Q
Windsor, Alberta 11/21/2009 06:50 PM GMT (TransWorldNews)
Electronic Game Card, Inc. (OTC Bulletin Board: EGMI), filed its SEC Form 10-Q for the three-month and nine month periods ended September 30, 2009 after the close of the market. Kevin Donovan, Interim Joint Chairman and CEO commented, "As we continue to improve upon our organization from all fronts, we also intend to institute the most conservative of procedures. We are instituting our first provision for income taxes for this quarter. This figure is an estimate based on U.S. taxation on the entire worldwide income and, therefore, may be lower once we file our year-end tax statements in other jurisdictions where the company may apply its tax loss carry-forwards. We maintain our guidance for the full year of $0.14 which is based upon pretax figures."
The Penny Stock Picks, an online financial publication, provides investors timely stock market alerts.
Sign Up Today for our Free Newsletter
As previously reported in a press release issued on November 12, 2009, the Company reported revenues for its third quarter of $4.2 million, a 39 percent increase over the comparable prior year period. In filing Form 10-Q, the Company revised its estimate of U.S. tax loss carry-forwards based upon having recently filed its 2008 US income tax return. Revenues reported in Form 10-Q for the periods ended September 30, 2009, and the amounts reported in the November 12 press release are unchanged, with expenses substantially unchanged. Both items are outlined in the table shown below. Similarly, for the nine months ended September 30, 2009, Electronic Game Card's comprehensive net income applicable to common shareholders was $5.5 million or $0.09 per fully diluted share as compared to its previously reported $6.6 million or $0.10 per fully diluted share. Electronic Game Card, Inc., (OTCBB:EGMI), develops, produces and markets innovative games to the promotional industry worldwide, toys and games, casinos and lottery. The Company's lead product is the EGC Electronic GameCard(TM), a unique credit card-sized pocket game combining patent and patent-pending proprietary technology of interactive capability with "instant win" excitement. The EGC Electronic GameCard(TM), Know-it-All QuizCard(TM), iQuizCard(TM), and ePLAYCards for Education are completely customizable and can be programmed to suit a variety of gaming, promotions, and education applications including skinned to popular licensed intellectual property brands in a variety of popular cultures in sports, music, movies, entertainment, fashion, history, geography, and many other genres.EGMI's client base is across the $100 billion global market of, sales promotion, education, gaming and casinos, Indian gaming and state and national lotteries markets. EGMI develops sales and marketing relationships with agents and distributors globally and currently has agents and distributors in North America, United Kingdom, Ireland, Mexico, Italy, Sweden, Norway, Denmark, Finland, South Africa Australia, New Zealand and Japan.
Sign Up for The Penny Stock Picks' FREE Penny Stock Newsletter.
About Us
The Penny Stock Picks is a financial website and independent electronic publication that provides information and free penny stock alerts on selected publicly traded companies. We also track small cap companies that may be positioned to break out.
The Penny Stock Picks is not a registered investment advisor or broker-dealer. Please do your own Due Diligence before investing in any of the stocks mentioned above. To feature a company on our web site please contact us at the email listed below.
Please click here to read the full disclaimer
staff@thepennystockpicks.com
www.thepennystockpicks.com
Email Article to a friend
|
View Profile
Visit Blogs
|
NEWS ALERTS
Receive alerts for
ThePennyStockPicks.com
to your inbox.
Sign up for TransWorldNews Alerts
TransWorldNews, Inc. and its affiliate sites disclaim all liability for information and content provided by clients and appearing within their news and press releases.
