RE:Correction of Misleading statements and information
It is incorrect to say EDS is shut down.
Technically, this may be true. However, is Cleopatra is correct the company currently has no staff and no premise to operate out of. Is this "shut down?" I would say so.
It is incorrect to say EDS is a lost business.
This may also be true. But when have you ever read something Paul Leung posted come true? Leung says the company will be fully functional in the fall. I hope it is but this is also the same guy who reported a 5 year, 40 million dollar contract with Advantec. He left out the critical information that EPT only had 3 months to provide a prototype. Investors found out 6 months after the contract was dead that Leung failed to deliver. Do I really need to post more screw ups by Leung to illustrate why investors are so sceptical of anything he says? My default position with Leung is to disbelieve anything he says. We have all been burnt far too many times to trust this guy.
--It is true to say east coast facility is shut down.
Agreed.
--It is true east coast contractors were not renewed.
Agreed.
--It is consistent with moving the plant/facility to west coast as announced.
It does not take 6 to 8 months to move from the east coast. If EDS were receiving contracts much of the job of opening a shop on the west coast could have been done while EDS was fullfilling a contract. The fact is EDS does not have a contract. Does anybody really believe EDS would be shut down if they had a contract in hand to fullfill? Hardly. Only in Empowers upside down world is shutting down a division seen as not a bad thing.
--It is possible that an operating executive is already bidding contracts but I have no info on that.
This may be true and I hope it is but if it is true why hasn't Leung made that clear in his last EDS update? Why should this be a secret? Empower is desparate for good news, especially during yet another financing. [when is Empower NOT conducting a financing?] Maybe this is another example of Leung's poor communication skills?
--It is possible that employee interviews are taking place now but I don't know that.
I hope they are but we don't know this.
--What is announced is the west coast facility will be FULLY functional in the fall.
This is something we won't know until it happens. Leung has made dozens of annoucements that have failed. Do I really need to list them?
There is a lot of work to do to move and staff a commercial enterprise. I assumed it is even more complicated when security for the military defense complex is involved.
I can accept this.
However, business for EDS can continue without a facility since delivery dates are negotiable.
This remains to be seen. Only time will tell. If there is any way to screw this up Leung will find a way. How do we know that? Because thats what Paul Leung does best. Review the past 13.5 years of screw ups if you really need to.
It is incorrect to say telco's net will be 10 or 20 percent of gross revenue.
.
Telco has been a private company. Not required to release financial records to public.
It would not be surprising to me to see 30 to 50 percent margins once Empower releases financials at the end of the year. Until then, only Paul Leung and his COO know the margins
30 to 50% margins? Extremely unlikely. What sane person would sell a company netting 600K to $1,000,000 for 3 million illiquid EPT shares currently trading for under a dime? Even at a deemed value of 25 cents/share thats only 750K. It makes no sense whatsoever.
Paul Leung chose wisely to prioritize the telco deal first.
This is an admission Leung couldn't do both so he basically shut down EDS putting it on the back burner while he pursued Telco. Thats the real story here. Empower hasn't got the money to do both because Leung spent it all and hasn't got the credibility to raise enough cash.
Little cash capital involved, generates cash internally when purchase completed.
I can accept this may be true but we will have to see.
Already 20
I'm not sure what this means?