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Entertainment Gaming Asia Inc. Message Board

  • kidecar kidecar Jul 6, 2006 7:44 AM Flag

    Eating GPIC's lunch...

    Here's a simple comparison (one of many) showing why VNX will NEVER "eat GPIC's lunch".

    In order to generate enough working capitol to stay afloat, VNX bowrrowed $13 Million (and up to another 5 million from stock sales) from Bricoleur Funds. All of which must be paid back within 4 years.

    GPIC on the other hand simply SELLS $16 Million in RFID chips. All of which should be delivered this year once the expanded production facilities get ramped up.

    VNX can't even eat at the same table as GPIC! Hell, the only way they'll let VNX into the restaraunt is if they bring Bricoleur Funds with them to pay the bill! LOL

    Having said that, if the VNX share price goes down to the 1.50-1.75 range, it *could* be a good ST buying opportunity - depending on the circumstances of the drop in share price.

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      "'Subscription Notice' shall mean a written notice to the Purchasers, delivered via facsimile, setting forth the Subscription Amount that the Company requests from the Purchasers, including the Subscription Price and the Closing Date. The Company shall be entitled to send a Subscription Notice only

      <*** answer below ***>

      during the fifteen Business Day period immediately following the Company's filing with the Commission of an Annual Report on Form 10-K or 10-KSB or Quarterly Report on Form 10-Q or 10-QSB.


      The Company shall only send a Subscription Notice between 6:30 A.M. and 1:30 P.M. (Pacific time) on a Trading Day; provided, however, the Company shall not be entitled to send a Subscription Notice after 1:00 P.M. if it subsequently issues a press release on that same Trading Day. Unless otherwise mutually agreed by the Purchasers and the Company in writing, the Closing Date shall be no sooner than five (5) Business Days and no later than fifteen (15) Business Days after the date on which the Subscription Notice is received by the Purchasers.

      'Subscription Price' means, as to each Subscription Share purchased in a Closing, eighty percent (80%) of the VWAP on the same Trading Day on which the Company delivers the Subscription Notice; provided that in no event shall the Subscription Price exceed $3.50 per Subscription Share (subject to adjustment for any stock split, reverse stock split or other similar event affecting the Common Stock after the date hereof)."

    • And the answer is ...

    • December 7th ... "a date which will live in infamy !"

    • As sub-teach, I'll sneak in a question for kidecar to see whether she's been paying attention:

      When is VNX allowed to put shares to Bricoleur?

      • 1 Reply to pjv2xyw9dww4b5
      • PJ,

        You should know your audience. KideCar is a "he"... LOL

        On to your question...

        It looks like it's "at the company's option" w/ a 180 day lockup. I though that Bricoleur was issued warrants for shares - not actual shares, which they can begin converting into shares in November 2006 but can't sell them until May 2, 2007 ( +/- 5 days).

        "The warrants may not be exercised for 180 days following the Closing Date [May 2nd 2006] . In addition, all shares of common stock issuable upon exercise of the warrants are subject to a contractual lock-up for 180 days beginning on the Closing Date."

    • ROFL !
      Whats the matter Kider? You sleep with a pea under your mattress? Would frosting with your cake help you feel better?

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