Further DilutionWith the latest financing announcement Leung is planning on diluting the stock by an additional 25 to 30% if all 12 million shares + 6 million warrants are sold. This is an alarming rate of dilution. With all shares accounted for including Leung's motherload we are now way above 100 million shares and growing rapidly. It seems this company is in perpetual financing mode.
On the face of the latest announcement including the possibility of enforcing the patent this companies stock should have become more active and risen at least above a dime The problem of course is the previous damage to the companies re*****tion that Leung has caused over the previous 13 1/2 years of folly.
As for the telco acquisition I am glad to see Leung is trying to move the company forward but I am disapppinted the company only markets to such a slim segment of the Canadian population. Leung claims he wants to sell the image signal correction technology to "shopping malls, schools, commercial buildings and universities". When was the last time you saw a fog bank roll into anyone of these locations? Empowers image correction technology is not needed at any of these facilities. Image stabilization could possibly be needed on a tall mast outside but not inside where mounting locations are already stable.
Whats happening with EDS? The 2nd contract was announced months ago with no updates. I am becoming suspicious. I have no information regarding the 2nd contract but without any update in about 5 months I suspect it may have failed and was cancelled. If it is going well then Leung should have included a brief note at the bottom of one of his recent announcements. Its been Leung's practice in the past to withhold information about failures so I wont be surprised to find out at some point EDS has been closed down already. I'm NOT saying there are problems, I just know that this pattern of failure has persisted since this companies inception in 2000.
Regarding the latest financing I see its another "non-brokered" financing. There is no name or contact information for any perspective investor. Why? I think most investors know why this is the case. Its going to be pretty tough selling stock at a dime when it can be purchased off the open market for 8 cents.
The train wreck continues.