SEC Company Response from ELECTRONIC GAME CARD INC (CIK 0001083036) — Nov 22, 2005
ELECTRONIC GAME CARD INC (CIK 0001083036)
Date: Nov. 22, 2005 · CIK: 0001083036 · Accession: 0001170918-05-000874
AI Filing Summary & Sentiment
File numbers found in text: 000-25843
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L. STEPHEN ALBRIGHT ATTORNEY AT LAW
17337 Ventura Boulevard, Suite 208
Encino, California 91316
Ph. (818) 789-0779 o Fax (818) 784-0205
LStephenAlbright@aol.com
November 22, 2005
VIA EDGAR & FEDERAL EXPRESS
Andrew Schoeffler, Esq.
SECURITIES & EXCHANGE COMMISSION
Division of Corporate Finance, Office of Small Business Review
450 Fifth Street N.W.
Washington, D.C. 20549
Re: Electronic Game Card, Inc. (the "Company")
Preliminary Information Statement on Form 14C
Filed: May 27, 2005, amended on September 20, 2005 ("14C")
File No.: 000-25843
Form 10-KSB/A for the year ended December 31, 2004
Filed: April 20, 2005, amended on April 22, 2005
File No.: 000-25843
Form 10-QSB/A for the quarter ended March 31, 2005
Filed: May 17, 2005, amended on May 19, 2005
File No.: 000-25843
Dear Mr. Schoeffler:
I am in receipt of a copy of the Commission's June 21, 2005 comment letter to
Mr. John Bentley, Chief Executive Officer of the Company, a copy of which was
sent to Mr. Michael Hirschberg, Esq., then with DLA Piper Rudnick Gray Cary US
LLP. Please note that Mr. Hirschberg has since moved to the law firm of Katten,
Muchin, Rosenman LLP, that the Company filed an amended Form 14C and that I am
now responsible for preparing and filing the Company's response to the balance
of the comments set forth in the Commission's June 21, 2005, letter.
Accordingly, please consider this letter to be the Company's formal response to
the Commission's comment letter. I note that on September 20, 2005, the Company
filed an amended Form 14C which was revised to conform to the Staff's comments.
The Form 14C filed herewith is relatively unchanged from the September 20, 2005
filing with the changes consisting primarily of the dates on which it will be
mailed, response due dates and the effective date.
<PAGE>
Andrew Schoeffler, Esq.
SECURITIES & EXCHANGE COMMISSION
November 22, 2005
Page 2
As required, we are enclosing three (3) clean hard copies of the Form 14 C and
three (3) redlined copies of the Form 14 C. In addition, the original of this
letter will include three (3) clean copies of the Form 10-KSB/A and the Form
10-QSB/A, with exhibits and three (3) complete redlined copies of same, without
exhibits. The redlined copies are marked to show the changes from the original
filing. Deletions are marked by striked out text and insertions are underlined
or double underlined.
This letter responds to the comments in the same order presented by the
Commission and with the same comment item numbers.
PRELIMINARY INFORMATION STATEMENT ON SCHEDULE 14C
GENERAL
Comments Nos. 1 through 3.
The Form 14C filed with the Commission on September 20, 2005, was amended and
revised in response to the Commission's comments. These revisions should be in
compliance with the staff's comments.
AMENDMENT TO ARTICLE OF INCORPORATION, PAGE 3
Comments No. 4.
The Form 14C filed with the Commission on September 20, 2005, was amended and
revised in response to the Commission's comments. These revisions should be in
compliance with the staff's comments.
FORM 10-KSB/A FOR YEAR ENDED DECEMBER 31, 2004
GENERAL
Comments No. 5 & 6.
The Form 10-KSB/A has been revised to respond to the staff's comments. The
revisions should be in compliance with the staff's comments.
COVER PAGE
Comments Nos. 7, 8 and 9.
The Form 10-KSB/A has been revised to respond to the staff's comments. The
revisions should be in compliance with the staff's comments.
PART I
ITEM 1. DESCRIPTION OF BUSINESS
Comments Nos. 10, 11, 12, and 13.
The Form 10-KSB/A has been revised to respond to the staff's comments. The
revisions should be in compliance with the staff's comments.
<PAGE>
Andrew Schoeffler, Esq.
SECURITIES & EXCHANGE COMMISSION
November 22, 2005
Page 3
LOTTERY MARKET
Comment No. 14.
The Form 10-KSB/A has been revised to respond to the staff's comments. The
revisions should be in compliance with the staff's comments.
INDIAN GAMING MARKET
Comments No. 15, 16 and 17.
The Form 10-KSB/A has been revised to respond to the staff's comments. The
revision should be in compliance with the staff's comments.
ITEM 3. LEGAL PROCEEDINGS.
Comment No. 18.
The Form 10-KSB/A has been revised to respond to the staff's comments. The
revision should be in compliance with the staff's comments.
PART II
ITEM 5. MARKET PRICE FOR REGISTRANT'S COMMON EQUITY AND RELATED STOCKHOLDER
MATTERS
Comment No. 19.
The Form 10-KSB/A has been revised to respond to the staff's comments. The
revision should be in compliance with the staff's comments.
ITEM 6. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF OPERATIONS
Comments Nos. 20 & 21.
The Form 10-KSB/A has been revised to respond to the staff's comments. The
revision should be in compliance with the staff's comments.
GENERAL
Comment No. 22.
The Form 10-KSB/A has been revised to respond to the staff's comments. The
revision should be in compliance with the staff's comments.
RISK FACTORS
A SMALL NUMBER OF SHAREHOLDERS CURRENTLY HAVE THE ABILITY TO DETERMINE THE
OUTCOME . . .
Comment No. 23.
The Form 10-KSB/A has been revised to respond to the staff's comments by
deleting references to potential control by a small number of shareholders. The
revision should be in compliance with the staff's comments.
<PAGE>
Andrew Schoeffler, Esq.
SECURITIES & EXCHANGE COMMISSION
November 22, 2005
Page 4
ITEM 7.
CONSOLIDATED STATEMENTS OF CASH FLOWS
Comment No. 24.
The Form 10-KSB/A has been revised to respond to the staff's comments. The
revision should be in compliance with the staff's comments.
NOTE 8 -- STOCK OPTIONS/WARRANTS
Comment No. 25.
The Form 10-KSB/A has been revised to respond to the staff's comments. The
revision should be in compliance with the staff's comments.
ITEM 8A. CONTROLS AND PROCEDURES
Comment No. 26.
The Form 10-KSB/A has been revised to respond to the staff's comments. The
revision should be in compliance with the staff's comments.
Comment No. 27.
The Form 10-KSB/A has been revised to respond to the staff's comments. The
revision should be in compliance with the staff's comments.
PART III
ITEM 9. DIRECTORS AND OFFICERS OF THE COMPANY
Comments Nos. 28, 29 & 30.
The Form 10-KSB/A has been revised to respond to the staff's comments. The
revision should be in compliance with the staff's comments.
ITEM 10. EXECUTIVE COMPENSATION
Comment No. 31.
The Form 10-KSB/A has been revised to respond to the staff's comments. The
revision should be in compliance with the staff's comments.
ITEM 11. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
Comments Nos. 32 & 33.
The Form 10-KSB/A has been revised to respond to the staff's comments. The
revision should be in compliance with the staff's comments.
ITEM 13. EXHIBITS
Comment No. 34.
The Form 10-KSB/A has been revised to respond to the staff's comments and all
required exhibits are either filed herewith or incorporated by reference. The
revision should be in compliance with the staff's comments.
<PAGE>
Andrew Schoeffler, Esq.
SECURITIES & EXCHANGE COMMISSION
November 22, 2005
Page 5
Comment No. 35.
The Form 10-KSB/A has been revised to respond to the staff's comments. The
revision should be in compliance with the staff's comments.
ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES
Comment No. 36.
The Form 10-KSB/A has been revised to respond to the staff's comments. The
revision should be in compliance with the staff's comments.
FORM 10-QSB/A FOR THE QUARTER ENDED MARCH 31, 2005
GENERAL
ITEM 38. The Form 10-QKSB/A has been revised to respond to the staff's comments.
The revision should be in compliance with the staff's comments.
COVER PAGE
Comment No. 39.
The Form 10-QKSB/A has been revised to respond to the staff's comments. The
revision should be in compliance with the staff's comments.
PART I - FINANCIAL INFORMATION, PAGE 3
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION . . PAGE 18
Comment No. 40.
The Form 10-QKSB/A has been revised to respond to the staff's comments. The
revision should be in compliance with the staff's comments.
RESULTS OF OPERATIONS, PAGE 19
Comment No. 41.
The Form 10-QKSB/A has been revised to respond to the staff's comments. The
revision should be in compliance with the staff's comments.
ITEM 4. CONTROLS AND PROCEDURES, PAGE 20
Comment No. 42.
The Form 10-QKSB/A has been revised to respond to the staff's comments. The
revision should be in compliance with the staff's comments.
PART II - OTHER INFORMATION, PAGE 20
ITEM 2. CHANGES IN SECURITIES, PAGE 20
Comment No. 43.
The Form 10-QKSB/A has been revised to respond to the staff's comments. The
revision should be in compliance with the staff's comments.
<PAGE>
Andrew Schoeffler, Esq.
SECURITIES & EXCHANGE COMMISSION
November 22, 2005
Page 6
ITEM 4. SUBMISSION OF MATTER TO A VOTE OF SECURITY HOLDERS, PAGE 20
Comment No. 44.
The Form 10-QKSB/A has been revised to respond to the staff's comments. The
revision should be in compliance with the staff's comments.
EXHIBITS 31.1 AND 31.2
Comment No. 45
The Form 10-QKSB/A has been revised to respond to the staff's comments. The
revision should be in compliance with the staff's comments.
Sincerely,
/s/ L. Stephen Albright
-----------------------------
L. STEPHEN ALBRIGHT
enclosures
c: John Bentley @ Electronic Game Card, Inc., w/encls
Linden Boyne @ Electronic Game Card., Inc., w/encls
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