Pig with Lipstick
This latest annoucement is nothing more than a pig with lipstick.
The fact is the investors of this company waited more than a year for the acquisition of Northstar, now EDS, and after only 2 months of operations EDS is now shut down.
EDS has in fact been shut down for 5 months according to Cleopatra. Why? Is it because there is so much work for them? Hardly.
As for the move to the west coast I have no problem with that but the plan is for the move to be completed by the fall of this year. That means EDS will have been shut down for most of 2013. Is it any wonder why the bid is 6 cents today? Empower simply does not have the money to keep employees on staff without a contract.
Why weren't investors advised of this crucial material information 5 months ago as is legally required? If Apple were to shut down a division for nearly a year would this be material information? Of course it would. The law is no different for Empower. The only reason we are now aware of the shut down is because of Cleopatra's post and Leung felt compelled to report what he should have announced months ago.
What about this "Canada first" policy of the Harper government? At most it will provide Canadian companies with an opportunity to show their products and services before the military makes a decision. The Canadian military is not going to purchase an inferior product from a Canadian company to satisfy a desire to develope Canadian companies. EDS will still have to compete directly with well established and well funded US and european defense contractors. At best it is a long shot EDS will ever be successful.
At the moment it appears EDS has no employees. It is a company in name only with no contracts.
Empowers "see through the fog" technology has been in development for more than 5 years. When it first became known to investors the stock broker pushing this thing was telling his clients the US military was going to be a near term major client. To date not a single unit has been sold and millions of dollars have been pumped into it. Leung announced a "sales team" had been formed 2 1/2 years ago to sell the ISC technology to sell it to such entities as first responders, homeland security, military and surveillance companies. Zero sales.
As for AIC selling the ISC to shopping malls, universities, schools, commercial/industrial buildings this is extremely doubtful. These companies not only have security systems in place but they do not need to "see through the fog." ISC technology is only applicable in situations where atmospheric conditions obscure clear images. AIC will be competing with dozens of very well established security companies that offer top quality products without "see through the fog." It is likely they will never sell a single unit.
Soon year 14 will have slipped by and the stock price will likely still be under a dime. The financial disaster continues and will continue indefinately. It could be years [if ever] before we ever have an opportunity to get any of our money back from this financial disaster that Leung has created.