the only way they get an extension is if they can show Nasdaq that they have something that will create interest and value to the stock. I don't think showing them a fortune cookie that says Ihub says $6-$8 will do the trick.
This is going to be a longer decent into oblivion than I first thought. I was under the impression that 10/14/2014 was 'come to Jesus day' for EGT, but it looks like they could get a 2nd 180 day final chance if they cannot make the first cut...which is getting harder and harder to see them doing based on performance and PPS trend.
From Phnom Penh Post online article 4/29/2014
"...EGA has been given 180 days – until October 14 – to lift its share price from $0.87 to the Nasdaq’s minimum of $1 and must hold that price for at least 10 consecutive days, according to the April 23 announcement. If, however, the company fails to reach the target within this period, a second 180-day grace period may be granted before EGA’s stock could be delisted from the exchange...."
Final Last Gasp Date: Sunday, April 12, 2015
May 16 MM shot price up to .76 on 1000 shares. Today down to .65 on 980 shares.
Market Makers wins. Mom and Pop retail investors lose.
Cambodian casino operator NagaCorp reported a 16% bump in Q1 gaming revenue but analysts are questioning the company’s emphasis on VIP gamblers. Unaudited results covering the first three months of 2014 show NagaCorp earned revenue of $76.8m, up $10.5m over the same period last year. Mass market table game buy-in was up 24% to $115.6m, electronic gaming turnover rose 10% to $273.2m while junket and VIP rolling chip drop was up 14% to $946m.
NagaCorp operates Phnom Penh’s only casino, NagaWorld, where the company plans to add 63 new VIP tables this year. NagaCorp recently set up a marketing office in Macau in a bid to lure high-rollers to Cambodia’s capital and plans to introduce regular chartered flights between Macau and Phnom Penh. But Q1′s VIP turnover failed to match analysts’ expectations and has sparked warnings that NagaCorp is vulnerable to changes in the region’s casino landscape.
Citigroup’s Citi Research division warned that any perceived slowdown in Macau’s VIP market would force junket operators to become more competitive, which would “threaten Naga’s strategy of targeting the ‘Poor Man’s VIP.’” Analysts at Morgan Stanley echoed these concerns, noting that regional competition for VIPs would intensify later this year following the opening of the Philippines’ second large scale resort casino, Melco Crown Entertainment’s City of Dreams Manila.
Analysts also expressed concern over the future of NagaCorp’s mass market traffic, noting that any change in neighboring nations’ approach to casinos – such as Vietnam finally allowing its citizens to enter local casinos – could take a significant bite out of NagaWorld’s cross border traffic. NagaCorp is in the process of building the $369m Naga2 facility, which is set to open next door to NagaWorld in 2016, and is also building a $350m casino in Russia’s Primorye region, which isn’t expected to open before 2018.
That's the delisting date. We basically have 1 quarter (Q2) to get this pigs nose above the 1.00 PPS waterline. Given that we hit .69 yesterday (17.25 pre split) and two of the last six trading days were 1000 shares or less.....that is going to be a difficult task. By the time Q3 is reported, it will be too late, we will have already been delisted and MFs and Institutions will have bailed per their charters.
Happy Memorial Day Weekend. This may be the last one we see on this Message Board.
Weeee doggie...Someone bought a whole 1000 shares of EGT today and drove the share price up 7%
I guess the Market Maker was in such shock to see any activity that he rewarded the buyer with a big increase. Now watch what happens when that same person tries to sell....down 10%
Market Makers always win.
the writing was on the wall, problem is the majority of the people here were too blind to see it. They had big mouths though.
5 years of inverstor equity has been lost. The last time that PPS was this low was 2009.
SEVEN consecutive quarters showing a loss. The last profitable quarter was 2Q2012
14 Inst and MFs holding only 6% of float (3% of total shares) + 1 analyst covering EGT
The only positive is that Managemenrt did note reward themselves with stock options for this dismal performance and most stock options that were awarded in the past are underwater.
Sum it all up in 2 words: Squandered Potential
at what point does the Board have some accountability? Are they all idiots? some of them are US citizens and you'd think they would know how to interact with a US investor base! get rid of all mgmt and the Board and start over!!!!!
that value disappeared a long time ago. It was some of the nimrods that used to post on this message board that kept it inflated and lined the pockets of Ihubsuck and his cronies. They are too embarrassed to post now, knowing they were suckered.
Not one mention of delisting during the call. Pitiful. Pitiful. Pitiful. I nominate Jethro for CEO, Mr Drysdale for CFO, and Ellie Mae for Investor Relations VP. I recon that if she can handle all them critters, dealing with a few crazy investors that done drunk too much of Granny's roomatiz medicine is easier than makin cornbread.
I guess that then Chinese fellas will have to talk about delisting eventually. It's like being pregnant. Ignoring it don't change nuthin..
Say, Wonder where that iHype fella is. He suuuure had a slick way of talking afore he run off.
Oh well. Guess I'll just stay right here on teh porch and keepa rockin and awhittlin.
Stock is at 72 cents, now well below where you first started pumping it. What should we do? Why have you not posted for a while. Are you all a bunch of D-bags?
Funny how quiet some people get.
Not to worry, Clarence Chung is getting very promotional and is all over the Philippines newspapers. Too bad he is promoting his other project, President of MPEL Philippines.
Sad that we got Pearl Harbored by a Chinaman.
The move of Dolphin from Australia to Hong Kong happened last year and the building of Dreamworld Poipet. The write-off of Dreamworld Paiilen happened and they outsourced to a third party starting mid Nov for managing of tables (if memory serves).
I agree best measure that we can use to go on right now is 1st Q 2012 which was 3 cents a share. I hope for good surprises. I cannot imagine the stock going much lower. I think having the contracts for Solaire and City of Dreams Manila locked up for the future 3rd and 4th Q is a big positive going forward regardless (not a smokescreen).
will see what tomorrow brings! Good luck everyone!!!!
With no new capital expenditures, discontinued operation expenses and bad write offs for this quarter, I would go back to 1st Qtr 2012 where the company earned $0.03 eps.
Still a long investor...hoping for only good surprises...
This will be an interesting Tapdance. I wonder if they are going to try to use the $4M in Chip orders as a smokescreen for the horrible performance of 2013 EGMs and (presumably 1Q2014 loss too).
Anybody thinking that EGT will have a + quarter in 1Q2014 (remember 1Q has Chinese New Year) or will it be just another quarterly loss in a long string of losing quarters?