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Edwards Lifesciences Corp. Message Board

kidecar 5 posts  |  Last Activity: Jul 8, 2016 11:16 PM Member since: Sep 19, 1999
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  • 547 revenue sharing EGMs on in the balance. In the 1Q2016 10Q, management clearly stated, "Contracts for our three venues in the Philippines expire on June 30, 2016. We intend to seek renewal of two of these venues and have commenced discussions with the relevant parties. "

    So....did EGT win both/either/neither of the contract renewals for the 'two venues' (only) that they were targeting?

    Even as I as I type this message, I am sure that EGT's IR department is furiously at work pulling together a Public Relations Masterpiece to explain it all to us and meet their minimum legal obligations as outlined by the SEC. The only reason that I think that they 'might' have gotten the renewals is because they just awarded themselves some stock options a couple of weeks ago. Suspicious timing.

  • Reply to

    These guys working For EGT???

    by fountainerocks Jul 7, 2016 8:53 PM
    kidecar kidecar Jul 7, 2016 10:21 PM Flag

    This company only been in existence since 8/5/2015 (Incorporation date) and has not produced any products as of yet, so it is hard to make a judgment call.

    From their website...

    "...Our name, Golden Rat Studios, is inspired by the first symbol in the Chinese zodiac: the rat. Appropriate for a social games company, the rat represents wisdom... with a dash of slyness thrown in. Assuring that good chi flows through our offices, Golden Rat mascots can be found in the southeast luck sectors of the studio...."

    Uhhh...OK. Good to know. I wonder how much $$$ they spent on Feng Shui consultants to get the office chi properly aligned? Considering that their office is located on the former grounds of a Howard Hughes airfield, that must have been difficult to get right. I wonder if they also spent money on...

    * Space clearing of unwanted energies
    * Chinese astrology recommendation for furniture placement
    * Business site blessing rituals
    * and the all-important, five-element color consultation ...if you screw that up you might as well go head and declare spiritual bankruptcy and lock the doors.

    So bottom line, there are 25 people in Playa Vista, CA sharing one big open office with a fish-bowl conference room (and 'private kitchen') and they have some pet rats that they keep in the corner of the office space for good luck.

    Golden Rat Studios Co-Founder/President, Dave Bezahler has an interesting resume but he is more mobile than his apps; having held (at least) 7 different jobs since 2005 (according to LinkedIn). In fact, he still remains CEO of FunBinge Social Labs while starting up Golden Rat.

    If anyone has a subscription to D&B you can see how much revenue FunBinge brings in annually (they actually have products in the market). It might provide some insight into what the products that Golden Rat builds will bring in for EGT.

  • Avg Vol (3 month) - 2,624 shares
    Avg Vol (10 day) - 50 shares

    So if you have even a modest investment in EGT then ...

    1. You are probably underwater on it with no clear relief in sight.
    2. It will take you days or weeks (or more) to unwind your position, even if you were willing to take the loss AND you were the only person heading out the door at that time.

    EGT is the stock market equivalent of the movie, "127 hours". Want out of EGT? Hope you have a sharp pocket knife handy and have a VERY high tolerance to pain.

    The only reason to invest in EGT is if you have a belief ( that defies common sense and logic) that EGT can enter into a highly competitive new market (social gaming), an area where Senior Management has ZERO experience, and somehow develop a first-time-at-bat-home run software winner that will generate the millions of dollars in recurring quarterly revenue that they has #$%$ away over the last 5 years. Anything is possible, but is that likely?

  • kidecar kidecar Jul 8, 2016 11:16 PM Flag

    I don't think that PHOT would do a 1:1000 rs, the # Outstanding shares and float would become too small (1.2M) to be 'liquid' and we have to be honest that PHOT is as much of a gamble as it is an investment so the stock need to have liquidity at 1.00-2.00 PPS. All stocks in this sector are a gamble with the possible exception of GWPH. I personally prefer infrastructure plays because of the extended market reach over retailers.

    If California votes in Prop 64 , that would consolidate the entire pacific coast for recreational use (CA, OR, WA, + AK and CO) that is not an insignificant % of US Congressional representatives (53 + 5 + 10 + 1 + 7 = 76 out of 435 / 17%) and that is just adding in 1 of the states voting in November.

    A couple of things probably need to happen before we see something on a national level:

    1. Time. States are the test laboratories of the national government. Taxing, public safety, public health, tax revenue, etc will all get close scrutiny. The larger the study group the better.
    2. Demote the schedule ranking by DEA : Schedule I down to Schedule III (same as Tylenol w/ codeine) or IV. This could be a progressive movement downward over time
    3. Allow for Banking transactions. This is as much of a safety issue for shop owners as it is common sense. This one is tricky because banking is controlled at a Federal level and legalization is at a State level.
    4. Establish a impairment level: Like BAC level for alcohol. Insurance companies and Lawyers are a VERY powerful lobby and want to know who is liable in case of an accident, injury, etc. We have a clear legal definition for alcohol impairment, we need one for Pot too.
    5. Develop a non-invasive field test that accurately measures #4 based on CURRENT conditions. Unfortunately pot remains detectable in your system for much longer than alcohol and can lead to a false-positive indication of impairment. Whoever develops that test will be an instant multi-BILLIONAIRE.


  • kidecar kidecar Jul 7, 2016 7:47 PM Flag

    OK. Looks like EGT is fully committed to being a internet gaming company. Add another 3.25M to the cash hoard and hope that it lasts long enough to see the game generate revenue.

    Until the social gaming app is released, recurring revenue is down to (~373), "... EGMs remain in operation as the Company is working to swiftly renew these contracts retroactive to July 1, 2016."

    373 EGMs with a market average WUD of 60/day ("....For these three venues, our share of the net win per unit per day ranges from 15% to 35%"...) to be generous, 25% .

    373 EGMs x15 net WUD x 90 days = ~500K per quarter in revenue. or ~2.0M annually (contingent upon 2 venue contract renewal of the remaining 2 venues). The Social Gaming app is expected to cost 5-6 M in 2016. I will let iHub and this iTeam explain what happens next...even WITH the renewal since his predictions have been so accurate so far..

    On the plus side, they have more EGMs in the Warehouse (not associated with an active contract )that they may be able to sell depending on age and condition. 1,851 total EGMs (based on 10Q) - 824 just sold leaves 1027 EGMs + office furniture that they can sell before they launch the game from Lawrence Ho's summer home basement

    At this point I don't think that any sane person would consider EGT to be 'an investment'. We will just have to see if their (and our) "All Or Nothing At All" gamble will pay off in the long term. Until then your investment $$ are locked in and dead money. So pour yourself a beverage, find a comfortable seat, and enjoy the puppet show.

    BTW, did you see on p.14 in the last 10Q , "Note 8. Goodwill and Intangible Assets, including Casino Contracts" that EGT is claiming 261K in "Technical know-how" as an Intangible Asset. KNOW HOW??? about WHAT??? make it even funnier, they are amortizing it !!!. That is THE craziest thing that I have read in a 10Q in a long, long time. I am NOT kidding.... read it for yourself.

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