EGMI Out of Development Stage and Into Profits
Shares of Electronic Game Card Inc. (OTCBB: EGMI) were trading up 2 cents (4 percent) to 36 cents per share on volume of 60,800. The stock spiked all the way up to a 52-week high of 48 cents in mid-May after announcing the company’s first profitable quarter. EGMI recently completed the shift from a development stage company to a commercialized entity, generating a material improvement in revenues and achieving profitability for the first time in its history. Revenues for the first quarter of 2007 were $990,000 which approximately equaled the revenues achieved during the entire year of 2006. The company…