Ever since the beginning of time, stories like David versus Goliath have been well revered by society to such extent that the “underdog” can sometimes have more fans cheering for them than the favorite does. Such may be the case with Galaxy Gaming, Inc. (OTC: GLXZ) which has doubled its revenues since last year and is carving out net income in a down economy. The Company has become the target of one of the biggest financial institutions due to some creative accounting measures in a previous entity. Regardless of the methodology of how assets were transferred, the world’s second largest developer, manufacturer and distributor of casino table games and enhanced casino systems could win this fight which would send GLXZ stock into orbit.
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GLXZ Stock Chart
Market Cap: 7.09M
Close: 0.185 ▼ -0.015 (-7.50%)
Volume: 118,500
Dollar Volume: $22,189
High: 0.20
Low: 0.175
Trades: 16
Average Trade Size: 7,406
Authorized: 65,000,000
Issued and Outstanding: 38,310,591
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Firstly, look at the share structure for GLXZ. Doesn’t appear to be the typical structure for a pump scheme does it? This is what caught our attention since their attorneys listed on OTCMarkets is the new favorite for the APS/VM crew: Cane Clark, LLP. Doesn’t appear to be a likely candidate for any promoting activity since there are barely enough shares to go around already since Galaxy Gaming Inc.’s CEO and President, Robert B. Saucier, owns 23,666,667 (see here).
With that in mind, the Company just received the first place award in Casino Journal’s annual “Best New Table Game” contest with their entry, High Card Flush, keeping alive Galaxy Gaming’s record-breaking winning streak for four consecutive years. High Card Flush, acquired by the Company just a few months ago, is just one of them many games they have in place throughout North America, the Caribbean, the British Isles, Europe, Australia and to cruise ships and internet gaming sites worldwide. With over 2,500 gaming tables installed in over 500 casinos, its no wonder why the banks are chasing after money from the second largest provider of proprietary table games in the world.
Talking about money, according to their most recent 10-Q filing, Galaxy Gaming is virtually swimming in it. Revenues for the three and nine months ended September 30, 2012 came in at $1.87 million and $5.31 million, respectively. Hell, the recent quarter’s revenues were almost greater than those from the nine months ended September 30, 2011; $2,264,079. All in all, the casino gamer booked net income of $129,476 and $19,771 for the three and nine months ended September 30, 2012. So why is GLXZ so cheap and under-appreciated?
According to one report (see here), Bank of America Corp. (BAC) is wanting to collect on funds previously lent to Galaxy Gaming LLC (GGLLC)which the Company defines on their SEC filings as “a Nevada limited liability company that was a predecessor of the Company’s business but is not directly associated with Galaxy Gaming, Inc.” Supposedly, GGLLC defaulted on loans that were backed by assets which were then acquired by the current entity. However, as can be seen on the filings, and as Saucier made abundantly clear in his open letter to BoA, payments were made accordingly.
Since Saucier has had a history of working out these situations in the past, speculators will want to pay close attention to GLXZ stock. This money making casino games supplier could be one of the best penny stock for 2013 if the cards are dealt and played correctly. With a public float of less than 16 million, it could be in for a breakout upon some good news from this lawsuit.
About GLXZ Stock
Galaxy Gaming, Inc. designs, develops, manufactures and/or acquires proprietary casino table games and associated technology, platforms and systems for the global gaming industry. Click here to view the SEC filings for GLXZ, here to view their corporate website.
Last 5 Trading Sessions:
| Date | Last | Change | % Change | Volume |
| 12/28/12 | 0.1850 | -0.0150 | -7.50% | 118,500 |
| 12/26/12 | 0.2000 | -0.0100 | -4.76% | 189,000 |
| 12/21/12 | 0.2100 | +0.0100 | +5.00% | 18,000 |
| 12/20/12 | 0.2000 | unch | unch | 20,000 |
| 12/19/12 | 0.2000 | unch | unch | 45,000 |
Bottom Line: GLXZ looks like one heck of a sexy penny stock and is on my “hidden gems” list headed into 2013. Although the chances of VM or APS picking this up as their pick is as likely as me hitting the jackpot on the High Card Flush table since I don’t go to casinos anymore, GLXZ stock has the guts behind it to be a candidate for a buyout if the economy turns around in 2013.
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