RE: RE: Legal Battle Ahead Who is the real enemy?
For nearly 13 years Paul Leung has been a total disaster. He is responsible for having lost 27 million dollars of investor money. He sold investors this krap for $2.25 and it sold 2 days ago for 3.5 cents. He has also created a long string of worthless garbage that nobody wants to buy.
-5910, 5912
-Osaka radio
-PND
-Inflight
These are only a few of Leung,s multi million dollar disasters. The investors paid for every one of them.
Even the ISC technology has been for sale now since Leung announced the formation of his "sales team" on Feb 25,2011. Thats nearly 2 years ago and he still hasn,t sold one single unit. I want to meet this sales team. Do you think Leung will introduce them today at the AGM? Maybe they can stand up and tell investors about themselves and what they are doing to sell the ISC? Fat chance of that happening.
And now to add insult to massive financial injury the "visionary" as he calls himself wants the investors to agree to assign him all of Empowers assets as security for his 2.7 million dollar loan. Thats a very bad idea if you are an investor. Leung is hedging his bets. He knows this company may collapse at any time now. If it does he wants to cover his loses. To helll with the investors who have paid for all his schemes. Leung has very cleverly tied the vote for the conversion note to giving him the assets as security. These are 2 totally separate concepts and should be voted on separately but Leung has set it up so that if an investor wants to "improve the companies prospects" he must also vote to give Leung the assets. IMO that is an unethical tactic by Leung and he should be ashamed. He should also be ashamed of announcing an "amendment" to the conversion rate on the website and then trying to quietly slip it past investors on page 14 of a long legal document shortly before the vote. Shame on you Paul Leung.
The only people who would have the knowledge that Axis360 claims to have are insiders who are very close to the deal and Paul Leung. I wonder if Axis would dare tell us how the product development for the OPT contract or the Taiwanese company are coming along? Axis wont because they are dead. Leung has a long standing practice of making promising contract announcements and then we never hear anything more about them. If asked about these annoucements at the AGM he will claim he is not allowed to answer because the law requires he must make a public announcment. That is a very clever tactic to avoid admitting more failure.
The latest annoucement regarding the formation of a "defence division" is just meaningless window dressing. He has already been trying to sell the ISC to the military if his Feb 25,2011 announcement is to be believed.
The solution to Empower,s problems is for Leung to actually accomplish something.