Gambling without money is like riding a bicycle without a seat, it just doesn’t make any sense. So, when Face Up Entertainment Group, Inc. (FUEG) launched their impossible for players to lose money gambling website, there didn’t seem to be any point to it. Zynga (ZNGA) already cornered the “play for free” market with their gambling social network and haven’t performed very well since their IPO in December. But, if FUEG stock can trade just $4,154 more volume than it did Monday, then it will have at least broken even for Monday.
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FUEG Stock Chart
Market Cap: 21.10M
Close: 0.36, up 0.04 (12.50%)
Dollar Volume: $35,846
Average Trade Size: 4,359
Issued and Outstanding: 58,625,000
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The Company hit the PR scene and markets with volume picking up from Wednesday to Friday. Wednesday they announced the release of software version 3.0 which was created to improve on gaming stability for users with older spec machines and weaker internet connections. Basically, for all of those Tandy 1000 users who are still clinging to those Radio Shack lifetime guarantees.
The new software version was said to include the introduction of a new tournament stat system integrated directly onto the tables for quick reference. So, since gambling without money has been so successful for the Obama administration, it would only make sense that it would also work for a Face Up Entertainment Group.
Friday, they informed the world about their branding and advertising campaign which will include old school tactics as well as new school – print, SEO and social media outreach, all of which are designed to introduce the FUEG’s flagship non-wagering subscription based poker to all the major magazines that cover the poker industry. In all fairness, FUEG did book $35,833 in revenues for the three months ended June 30, 2012.
With a quick glimpse toward the last 18 months, there are 30.69 million shares which have a cost basis of 0.0044 or less. Of the 30.69 million shares, 22.67 million date back to February 22, 2011, when the company operated as Game Face Gaming, Inc. On that date, they entered into an Asset Purchase Agreement with Lemberg Consulting, Inc. acquiring a provisional patent and other intellectual property related to operating multi-platform, multiplayer non-wagering, non-games of chance, such as chess, poker, and backgammon. As a result of the transaction, they came out with the domain name www.FaceUpGaming.com.
About FUEG Stock
Face Up Entertainment Group, Inc. is a development stage company engaged in developing the internet’s first Reality Gaming Social Network. The Company seeks to penetrate the market in the business of operating a non-wagering Internet social media and gaming company. Face Up Entertainment Group’s proprietary platform will be used in creating a vast global gaming network consisting of games from every region of the globe, supporting native languages as well as cross language functionality.
Click here to view the SEC filings for FUEG.
Bottom Line: It would be a safe bet to watch this penny stock before placing any chips on whether FUEG stock will go red, black or green. If you’ve ever seen a Roulette table before, then you know what the odds of the ball falling on green is. If you don’t, google it and educate yourself about the game all professional poker players use to build up their cash prior to entering into a high stakes game.
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