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Entertainment Gaming Asia Inc. Message Board

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    • I like the titles ("sell") of this thread.

      Remember VNX longs it's been shown time and time again ScamMan has no logical, concrete basis for owning VNX.

      Remember VNX longs from a tax perspective it is better to take your loss this year rather than next year.

      Remember VNX longs PJ has analyzed VNX's balance sheet and found numerous mistakes in their SEC documents. He's shown this company has less than a year to survive.

      Remember VNX longs $2/share or even $1.90/share is better than nothing and nothing is what you'll get in a year if you are too stubborn to sell this stock now.

      Remember VNX longs ScamMan wrote a hundred posts about how VNX would come to increase its market share in the shuffler business and how the shuffler business would be profitable for VNX. A year later VNX has all but withdrawn from this business and now its future rests on a business with strong competition and lower margins than the shuffler business.

      Remember VNX longs its better to sell now and take your lumps and move on. Anything you do with your money should hold greater promise than watching this company plod its way to bankruptcy.

      Finally, remember VNX longs December is a low volume month as the holidays start so if you want to sell your stock and take advantage of the tax laws it's better to do it ASAP.


      Go SHFL!

      • 3 Replies to bobshfl
      • I would add that, having stupidly paid $2.50/share to cover 25k shares before checking on the share availability for reshorting, I am feeling very ornery, and the VNX shares that I eventually buy to cover, IF I cover, will be ice-encrusted and trading at under a nickel apiece.

      • from the 3rd quarter 10-Q ( http://sec.gov/Archives/edgar/data/1004673/000114420406047790/v057555_10qsb.htm ):
        "We believe that the Bricoleur financing and the Elixir transaction, in addition to our existing cash and cash equivalents together with expected cash generated by operations, will meet our working capital needs, capital expenditures, and commitments through the end of this year."

        *** This year ends in 19 days. ***

        from the 3rd quarter 10-Q ( http://sec.gov/Archives/edgar/data/1004673/000114420406047790/v057555_10qsb.htm ):
        "However, we believe that in the event that we are unable to sell the non-gaming assets of Dolphin we will require up to $5 million of additional capital in order to fund our current commitments and plan of operations over the next 12 months."

        In http://sec.gov/Archives/edgar/data/1004673/000114420406028103/v047337_8k.htm is, "Our obligations under the notes and the resale price guarantee of the Consideration Shares will be secured by Dolphin�s pledge of a security interest in the assets of Dolphin that do not relate to the gaming business of the company." How can Dolphin's non-gaming assets be sold to raise money for VNX and simultaneously back up the $3.50 per share price guarantee, whose importance to Synwood/Purton can only be rising as the VNX share price falls?

        So just how will VNX raise $5 million? In the 3rd quarter 10-Q under "Risk Factors" ( http://sec.gov/Archives/edgar/data/1004673/000114420406047790/v057555_10qsb.htm ) is, "Further,, as result of our present level of debt and certain restrictions on our ability to incur additional indebtedness under our existing loan agreements, it is unlikely we will be able to obtain additional debt-based capital, unless a significant portion of the proceeds are used to retire existing debt." That, to me, means that issuing debt isn't the solution. That leaves equity.

        The Bricoleur warrant strike price reduction from $2.50 to $2.00 was a transparent ploy to make Bricoleur more likely to exercise. Since VNX shares pay no dividend, there is no reason for Bricoleur to tie up capital that could be earning a return elsewhere, especially with the VNX share price sinking despite attempts to shore it up with news releases.

      • Now come on Bob, this company is a threat to SHFL. I mean 200 placements...WOW! I wonder why they say "placements" rather than "This order brings our total DeckChecker(TM) SALES to...

        VNX announced today that its expansion into the Asian casino market has been given a further boost with an order for 44 DeckCheckers(TM) to be supplied via distributor TCS JohnHuxley for delivery later this month."This order brings our total placements in the Asian/Australian market to over 200 units,"

 
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