UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934
(Amendment No. 2)*

Electronic Game Card, Inc.

(Name of Issuer)

Common Stock, par value $0.001 per share

(Title of Class of Securities)

285716106

(CUSIP Number)

David Brosgol

Trafelet & Company, LLC

590 Madison Ave, 39th Floor

New York, NY 10022

(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

October 28, 2008

(Date of Event which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. x

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.

* The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

CUSIP No. 285716106

1.	Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only).
	Trafelet & Company, LLC
2.	Check the Appropriate Box if a Member of a Group
					(a) o (b) o
3.	SEC Use Only
4.	Source of Funds			WC
5.	Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)					o
6.	Citizenship or Place of Organization Trafelet & Company, LLC - Delaware
Number of Shares Beneficially Owned by Each Reporting Person With		7.	Sole Voting Power** Trafelet & Company, LLC - 0 shares
		8.	Shared Voting Power** Trafelet & Company, LLC - 6,497,706 shares (as of October 28, 2008), 3,811,686 shares (as of the filing date).
		9.	Sole Dispositive Power** Trafelet & Company, LLC - 0 shares
		10.	Shared Dispositive Power** Trafelet & Company, LLC - 6,497,706 shares (as of October 28, 2008), 3,811,686 shares (as of the filing date).
11.	Aggregate Amount Beneficially Owned by Each Reporting Person** Trafelet & Company, LLC - 6,497,706 shares (as of October 28, 2008), 3,811,686 shares (as of the filing date).
12.	Check if the Aggregate Amount in Row (11) Excludes Certain Shares						o

13.

Percent of Class Represented by Amount in Row (11)

Trafelet & Company, LLC - 12.2 % (as of October 28, 2008), 6.7% (as of the filing date).

14.

Type of Reporting Person (See Instructions)

Trafelet & Company, LLC - OO (Limited Liability Company)

CUSIP No. 285716106

1.	Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only).
	Trafelet Capital Management, L.P.
2.	Check the Appropriate Box if a Member of a Group
					(a) o (b) o
3.	SEC Use Only
4.	Source of Funds			WC
5.	Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)					o
6.	Citizenship or Place of Organization Trafelet Capital Management, L.P. - Delaware
Number of Shares Beneficially Owned by Each Reporting Person With		7.	Sole Voting Power** Trafelet Capital Management, L.P. - 0 shares
		8.	Shared Voting Power** Trafelet Capital Management, L.P. - 6,497,706 shares (as of October 28, 2008), 3,811,686 shares (as of the filing date).
		9.	Sole Dispositive Power** Trafelet Capital Management, L.P. - 0 shares
		10.	Shared Dispositive Power** Trafelet Capital Management, L.P. - 6,497,706 shares (as of October 28, 2008), 3,811,686 shares (as of the filing date).
11.	Aggregate Amount Beneficially Owned by Each Reporting Person** Trafelet Capital Management, L.P. - 6,497,706 shares (as of October 28, 2008), 3,811,686 shares (as of the filing date).
12.	Check if the Aggregate Amount in Row (11) Excludes Certain Shares						o

13.

Percent of Class Represented by Amount in Row (11)

Trafelet Capital Management, L.P. - 12.2% (as of October 28, 2008), 6.7% (as of the filing date).

14.

Type of Reporting Person (See Instructions)

Trafelet Capital Management, L.P. - OO (Limited Partnership)

CUSIP No. 285716106

1.	Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only).
	Trafelet & Company Advisors, LLC
2.	Check the Appropriate Box if a Member of a Group
					(a) o (b) o
3.	SEC Use Only
4.	Source of Funds			WC
5.	Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)					o
6.	Citizenship or Place of Organization Trafelet & Company Advisors, LLC - Delaware
Number of Shares Beneficially Owned by Each Reporting Person With		7.	Sole Voting Power** Trafelet & Company Advisors, LLC - 0 shares
		8.	Shared Voting Power** Trafelet & Company Advisors, LLC - 3,029,575 shares (as of October 28, 2008), 1,715,423 shares (as of the filing date).
		9.	Sole Dispositive Power** Trafelet & Company Advisors, LLC - 0 shares
		10.	Shared Dispositive Power** Trafelet & Company Advisors, LLC - 3,029,575 shares (as of October 28, 2008), 1,715,423 shares (as of the filing date).
11.	Aggregate Amount Beneficially Owned by Each Reporting Person** Trafelet & Company Advisors, LLC - 3,029,575 shares (as of October 28, 2008), 1,715,423 shares (as of the filing date).
12.	Check if the Aggregate Amount in Row (11) Excludes Certain Shares						o

13.

Percent of Class Represented by Amount in Row (11)

Trafelet & Company Advisors, LLC - 5.5% (as of October 28, 2008), 3.1% (as of the filing date).

14.

Type of Reporting Person (See Instructions)

Trafelet & Company Advisors, LLC - OO (Limited Liability Company)

CUSIP No. 285716106

1.	Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only).
	Delta Institutional, L.P.
2.	Check the Appropriate Box if a Member of a Group
					(a) o (b) o
3.	SEC Use Only
4.	Source of Funds			WC
5.	Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)					o
6.	Citizenship or Place of Organization Delta Institutional, L.P. - Delaware
Number of Shares Beneficially Owned by Each Reporting Person With		7.	Sole Voting Power** Delta Institutional, L.P. - 0 shares
		8.	Shared Voting Power** Delta Institutional, L.P.- 2,663,401 shares (as of October 28, 2008), 1,461,330 shares (as of the filing date).
		9.	Sole Dispositive Power** Delta Institutional, L.P.- 0 shares
		10.	Shared Dispositive Power** Delta Institutional, L.P.- 2,663,401 shares (as of October 28, 2008), 1,461,330 shares (as of the filing date).
11.	Aggregate Amount Beneficially Owned by Each Reporting Person** Delta Institutional, L.P.- 2,663,401 shares (as of October 28, 2008), 1,461,330 shares (as of the filing date).
12.	Check if the Aggregate Amount in Row (11) Excludes Certain Shares						o

13.

Percent of Class Represented by Amount in Row (11)

Delta Institutional, L.P. - 4.9% (as of October 28, 2008), 2.6% (as of the filing date).

14.

Type of Reporting Person (See Instructions)

Delta Institutional, L.P. - OO (Limited Partnership)

CUSIP No. 285716106

1.	Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only).
	Delta Offshore Master, Ltd.
2.	Check the Appropriate Box if a Member of a Group
					(a) o (b) o
3.	SEC Use Only
4.	Source of Funds			WC
5.	Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)					o
6.	Citizenship or Place of Organization Delta Offshore Master, Ltd. - Cayman Islands
Number of Shares Beneficially Owned by Each Reporting Person With		7.	Sole Voting Power** Delta Offshore Master, Ltd. - 0 shares
		8.	Shared Voting Power** Delta Offshore Master, Ltd. - 3,473,678 shares (as of October 28, 2008), 1,905,694 shares (as of the filing date). .
		9.	Sole Dispositive Power** Delta Offshore Master, Ltd. - 0 shares
		10.	Shared Dispositive Power** Delta Offshore Master, Ltd. - 3,473,678 shares (as of October 28, 2008), 1,905,694 shares (as of the filing date). .
11.	Aggregate Amount Beneficially Owned by Each Reporting Person** Delta Offshore Master, Ltd. - 3,473,678 shares (as of October 28, 2008), 1,905,694 shares (as of the filing date).
12.	Check if the Aggregate Amount in Row (11) Excludes Certain Shares						o

13.

Percent of Class Represented by Amount in Row (11)

Delta Offshore Master, Ltd. - 6.3% (as of October 28, 2008), 3.4% (as of the filing date).

14.

Type of Reporting Person (See Instructions)

Delta Offshore Master, Ltd. - CO

CUSIP No. 285716106

1.	Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only).
	Remy Trafelet
2.	Check the Appropriate Box if a Member of a Group
					(a) o (b) o
3.	SEC Use Only
4.	Source of Funds			WC
5.	Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)					o
6.	Citizenship or Place of Organization Remy Trafelet - United States
Number of Shares Beneficially Owned by Each Reporting Person With		7.	Sole Voting Power** Remy Trafelet - 0 shares
		8.	Shared Voting Power** Remy Trafelet - 6,497,706 shares (as of October 28, 2008), 3,811,686 shares (as of the filing date).
		9.	Sole Dispositive Power** Remy Trafelet - 0 shares
		10.	Shared Dispositive Power** Remy Trafelet - 6,497,706 shares (as of October 28, 2008), 3,811,686 shares (as of the filing date).
11.	Aggregate Amount Beneficially Owned by Each Reporting Person** Remy Trafelet - 6,497,706 shares (as of October 28, 2008), 3,811,686 shares (as of the filing date).
12.	Check if the Aggregate Amount in Row (11) Excludes Certain Shares						o
13.	Percent of Class Represented by Amount in Row (11) Remy Trafelet - 12.2% (as of October 28, 2008), 6.7% (as of the filing date).

14.

Type of Reporting Person (See Instructions)

Remy Trafelet - IN

CUSIP No. 285716106

This Amendment No. 1 (this "Amendment") amends and supplements the Schedule 13D (the "Schedule 13D") filed by the Reporting Persons on July 18, 2008 with respect to certain securities of Electronic Game Card, Inc. (the "Issuer"). All capitalized terms used in this Amendment and not otherwise defined herein have the meanings assigned to such terms in the Schedule 13D.

Item 2.

Identity and Background

Item 2 of the Schedule 13D is hereby amended and restated as follows:

(a) The names of the Reporting Persons filing this statement are Trafelet & Company, LLC ("Trafelet & Co."), Trafelet Capital Management, L.P. ("TCM"), Trafelet & Company Advisors, LLC ("Trafelet Advisors", collectively the "Trafelet Entities"), Delta Institutional, L.P. ("Delta Institutional"), Delta Offshore Master, Ltd. ("Delta Offshore Master") and Remy Trafelet. This statement on Schedule 13D, as amended, is filed on behalf of all such Reporting Persons.

(b) The business address of each of the Reporting Persons is c/o Trafelet & Co. LLC, 590 Madison Ave, 39th Floor, New York, NY, 10022.

(c) Delta Institutional is a Delaware limited partnership and Delta Offshore Master is a Cayman Islands exempted company formed for the purpose of making investments. The principal business of Trafelet Advisors is serving as the general partner of Delta Institutional and certain other private investment funds. The principal business of TCM is providing investment management services to Delta Institutional, Delta Offshore Master and certain other private investment funds. The principal business of Trafelet & Co. is serving as general partner of TCM. Mr. Trafelet's principal occupation is serving as managing member of investment management companies and related entities.

(d) During the past five years, none of the Reporting Persons has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).

(e) During the past five years, none of the Reporting Persons has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction as a result of which such person was subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

(f) Trafelet & Co. is a Delaware limited liability company. TCM is a Delaware limited partnership. Trafelet Advisors is a Delaware limited liability company. Delta Institutional is a Delaware limited partnership. Delta Offshore Master is a Cayman Islands exempted company. Mr. Trafelet is a citizen of the United States.

Item 5.

Interest in Securities of the Issuer

Item 5 of the Schedule 13D is hereby supplemented as follows:

(a) and (b) The following table lists the beneficial ownership of the Shares by the Reporting Persons as of the dates listed in the tables below:

REPORTING PERSON (1)	DATE	TOTAL HOLDINGS				% OWNERSHIP
REPORTING PERSON (1)	DATE	Series A Shares	Warrants	Shares of Common Stock	Total Shares of Common Stock (as converted)	% OWNERSHIP
Trafelet & Company	10/28/08	2,851,686	960,000	3,136,020	6,947,706	12.2%
TCM	10/28/08	2,851,686	960,000	3,136,020	6,947,706	12.2%
Trafelet Advisors	10/28/08	1,283,423	432,000	1,568,236	3,283,659	5.9%
Delta Institutional	10/28/08	1,093,330	368,000	1,202,071	2,663,401	4.9%
Delta Offshore Master	10/28/08	1,425,694	480,000	1,567,984	3,473,678	6.3%
Remy Trafelet	10/28/08	2,851,686	960,000	3,136,020	6,947,706	12.2%

REPORTING PERSON (1)	DATE	TOTAL HOLDINGS (as of the date of filing)				% OWNERSHIP
REPORTING PERSON (1)	DATE	Series A Shares	Warrants	Shares of Common Stock	Total Shares of Common Stock (as converted)	% OWNERSHIP
Trafelet & Company	currently	2,851,686	960,000	0	3,811,686	6.7%
TCM	currently	2,851,686	960,000	0	3,811,686	6.7%
Trafelet Advisors	currently	1,283,423	432,000	0	1,715,423	3.1%
Delta Institutional	currently	1,093,330	368,000	0	1,461,330	2.6%
Delta Offshore Master	currently	1,425,694	480,000	0	1,905,694	3.4%
Remy Trafelet	currently	2,851,686	960,000	0	3,811,686	6.7%

___________________________________________________________________________________________________

(1) TCM serves as the investment manager to Delta Institutional, Delta Offshore Master and certain other private investment vehicles. Trafelet & Company serves as the general partner of TCM and Remy Trafelet serves as the managing member of Trafelet & Company. Remy Trafelet serves as the managing member of Trafelet Advisors. Trafelet Advisors serves as the general partner to Delta Institutional and certain other private investment vehicles (the number of shares reported as owned owned by Trafelet Advisors has been modified from previous filings to correct a previous calculation error).

Each of the Reporting Persons disclaims beneficial ownership of all of the above-described Shares, except to the extent of its or his pecuniary interest therein, and the filing of this Schedule 13D shall not be deemed an admission of beneficial ownership of such Shares for any purpose.

__________________________________________________________________________________________

(c) The following table sets forth all transactions with respect to securities of the Issuer effected during the past sixty (60) days by any of the Reporting Persons that have not been reported previously. All transactions were effected in the open market. Per share prices listed below include commissions paid.

Reporting Person (1)	Date	Shares of Common Stock Sold	Price Per Share

Trafelet & Company	10/28/08	300	$0.29
TCM	10/28/08	300	$0.29
Trafelet Advisors	10/28/08	200	$0.29
Delta Institutional	10/28/08	200	$0.29
Delta Offshore Master	10/28/08	100	$0.29
Remy Trafelet	10/28/08	300	$0.29

Trafelet & Company	10/29/08	187,200	$0.2515
TCM	10/29/08	187,200	$0.2515
Trafelet Advisors	10/29/08	93,700	$0.2515
Delta Institutional	10/29/08	71,800	$0.2515
Delta Offshore Master	10/29/08	93,500	$0.2515
Remy Trafelet	10/29/08	187,200	$0.2515

Trafelet & Company	10/29/08	2,900,000	$0.23
TCM	10/29/08	2,900,000	$0.23
Trafelet Advisors	10/29/08	1,449,900	$0.23
Delta Institutional	10/29/08	1,111,600	$0.23
Delta Offshore Master	10/29/08	1,450,100	$0.23
Remy Trafelet	10/29/08	2,900,000	$0.23

Trafelet & Company	10/30/08	48,820	$0.269
TCM	10/30/08	48,820	$0.269
Trafelet Advisors	10/30/08	24,436	$0.269
Delta Institutional	10/30/08	18,671	$0.269
Delta Offshore Master	10/30/08	24,387	$0.269
Remy Trafelet	10/30/08	48,820	$0.269

________________________

(1) Shares reported as sold by each Reporting Person include Shares over which each Reporting Person may be deemed to have had beneficial ownership.

Item 7.

Material to Be Filed as Exhibits

Exhibit 7.1

Agreement, dated as of October 31, 2008, by and among Trafelet & Company, TCM, Trafelet Advisors, Delta Institutional, Delta Offshore Master and Remy Trafelet.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Ocotber 31, 2008

TRAFELET & COMPANY, LLC

By: /s/ Remy Trafelet

Remy Trafelet, Managing Member

TRAFELET CAPITAL MANAGEMENT, L.P.

By: Trafelet & Company, LLC,

its General Partner

By: /s/ Remy Trafelet

Remy Trafelet, Managing Member

TRAFELET & COMPANY ADVISORS, LLC

By: /s/

Remy Trafelet

Remy Trafelet, Managing Member

DELTA INSTITUTIONAL, L.P.

By: Trafelet & Company Advisors, LLC,

its General Partner

By: /s/ Remy Trafelet

Remy Trafelet, Managing Member

DELTA OFFSHORE MASTER, LTD.

By: Trafelet Capital Management

its Investment Manager

By: Trafelet & Company, LLC,

its General Partner

By: /s/ Remy Trafelet

Remy Trafelet, Managing Member

By: /s/ Remy Trafelet

Remy Trafelet, Individually

Exhibit 7.1

JOINT FILING AGREEMENT

This Joint Filing Agreement, dated as of October 31, 2008, is by and among Trafelet & Company, LLC, Trafelet Capital Management, L.P., Trafelet & Company Advisors, LLC, Delta Institutional, L.P., Delta Offshore Master Ltd., and Remy Trafelet (collectively, the "Filers").

Pursuant to and in accordance with Rule 13(d)(1)(k) promulgated under the Securities Exchange Act of 1934, as amended, the Filers hereby agree to file a single statement on Schedule 13D (and any amendments thereto) with respect to Shares of Common Stock of Electronic Game Card, Inc. on behalf of each of the Filers, and hereby further agree to file this Joint Filing Agreement as an exhibit to such statement, as required by such rule.

This Joint Filing Agreement may be terminated by any of the Filers upon written notice or such lesser period of notice as the Filers may mutually agree.

Executed and delivered as of the date first above written.

TRAFELET & COMPANY, LLC

By: /s/

Remy Trafelet, Managing Member

TRAFELET CAPITAL MANAGEMENT, L.P.

By: Trafelet & Company, LLC,

its General Partner

By: /s/ ____

Remy Trafelet, Managing Member

TRAFELET & COMPANY ADVISORS, LLC

By: /s/

Remy Trafelet, Managing Member

DELTA INSTITUTIONAL, L.P.

By: Trafelet & Company Advisors, LLC,

its General Partner

By: /s/ ____

Remy Trafelet, Managing Member

DELTA OFFSHORE MASTER, LTD.

By: Trafelet Capital Management

its Investment Manager

By: Trafelet & Company, LLC,

its General Partner

By: /s/ ____

Remy Trafelet, Managing Member

By: /s/

Remy Trafelet, Individually