MGT Capital Investments, Inc. Comments on Recent Trading Activity of Its Common Stock
HARRISON, N.Y., April 9, 2013 /PRNewswire/ -- MGT Capital Investments, Inc. (NYSE MKT: MGT) said today that there have been no material undisclosed developments that would account for the recent increase in the price and volume of its common stock. Yesterday, NYSE MKT notified the Company of unusual trading activity in its stock, and the Exchange requested the Company to respond by press release to the unusual activity. The Company's general policy is not to comment on market rumors or speculation, including unusual market activity, and instead urges investors to look to the Company's filings with the SEC and its official press releases.
About MGT Capital Investments, Inc.
MGT and its subsidiaries are engaged in the business of acquiring, developing and monetizing intellectual property rights.
MGT Gaming, Inc., a majority-owned subsidiary, owns U. S. Patent No. 7,892,088 relating to casino gaming systems. In November 2012, MGT Gaming filed a patent infringement suit against Caesars Entertainment Corporation, MGM Resorts International, Inc., WMS Gaming - a subsidiary of WMS Industries, Inc., Penn National Gaming, Inc., and Aruze Gaming America, Inc.
In addition, the Company owns Medicsight, Inc., a medical technology company with patent ownership and operations in imaging software and hardware devices. Medicsight's computer-aided detection software assists radiologists with detection of colorectal polyps, and has received regulatory approvals including CE Mark and U. S. FDA clearance.
Forward Looking Statements
This press release contains forward-looking statements. The words or phrases "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," or similar expressions are intended to identify "forward-looking statements." MGT's financial and operational results reflected above should not be construed by any means as representative of the current or future value of its common stock. All information set forth in this news release, except historical and factual information, represents forward-looking statements. This includes all statements about the Company's plans, beliefs, estimates and expectations. These statements are based on current estimates and projections, which involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These risks and uncertainties include issues related to: rapidly changing technology and evolving standards in the industries in which the Company and its subsidiaries operate; the ability to obtain sufficient funding to continue operations, maintain adequate cash flow, profitably exploit new business, license and sign new agreements; the unpredictable nature of consumer preferences; and other factors set forth in the Company's most recently filed annual report and registration statement. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof. Readers should carefully review the risks and uncertainties described in other documents that the Company files from time to time with the U.S. Securities and Exchange Commission.
SOURCE MGT Capital Investments, Inc.