Dec 1 (EGT closed @ .40) and I posted that I would not be suprised to see a selloff in Dec/January. You suggested that my grandson had hijacked my password. You also implied that we were about to take off... We did not. Not once since 12/1/2010 have we touched .40 again. Since then we have been as low as .33 and we have still not see the dilution effect if any from the shelf offering. I guess that your crystal ball is just like mine - a round glass blob and your prognostication skills at picking price bottoms are a little weak as well....just like mine.
DIluting the share count through a shelf offering just makes it that much harder to B/E + it diluted shareholder value at the same time. If those $50 MILLION DOLLARS (potentially DOUBLING the current outstanding share count)in shares and warrants would have been in place 6 months ago, we would not have had enough juice to make the .01/sh profit that we managed to squeek out for ONE quarter.
In early December I felt that there was no justification for the sudden ~80% rise in the PPS from .25 to .45 and felt this was another pumpster play. I thought that the price would have to retest it's solid base ~ .25 (from late Oct.) before it made another strong move up. We have built a new base around .33 so it will be interesting to see ho it holds once we see the
Sure we have a casino under contruction and some "mystery deal" that has been log-jammed for over a month, but we have no firm numbers to work with on the revenue OR cost side of teh project in hand -- or much detailed feedback on project's construction progress for that matter-- and NOTHING on the new deal.
If you read an article I posted earlier, quite a few border casinos in Cambodia have gone bust. It does not say why. I realize this this new casino does not have to be a 'Naga' to contribute significantly to our bottom line since we are pulling in 100% but I am taking a, "I'll believe they've captured lightening in a bottle when I can verify that it's not just a lightening bug in a jar" attitude. I still have 1/2 of my position and my money is making money for me elsewhere. I can alsways shift it back into EGT when the time is right.
You may eventually be right and this company might hit a buck a share on a PnD run one day if they can keep from diluting themsleves into oblivion - but EGT will have to justify that 1.00 PPS through NET PROFITS if the PPS is going to STAY there.