EMPOWER TECHNOLOGIES CORP V.EPT

RE:RE:What Leung didn't say

[walker77]

Big year ahead? Where does Leung say that Pandora? 
I don't see anything in this miserable year end report that would suggest a big year ahead. The company now has a deficit of somewhere north of 32 million after 15 years. Thats obscene. Leung seems to be boasting that he only lost $1.5 million in 2013 instead of his usual $2-3 million. Is that considered success for this company?

As I have said before, AIC is a very small company in a niche market with very little room to grow. I give them credit for what they have done and they may be able to increase their bottom line but nowhere near enough to substantially raise the stock price. This business plan will be lucky to raise the stock price back to the original seed stock price of 25 cents. Imagine how many investors would dump at that price. The market would be flooded with investors trying to get rid of this garbage.

There are 2 things that jump out at me in the announcement: 

The first is the now admitted failure of Empower Defense Systems. Its now about 2 1/2 years since the EDS debacle began and Leung is finally admitting another massive failure. Hundreds of thousands of precious investor dollars went into that project and the companies reputation is damaged even further-if thats possible. Within 2-3 months of Leung taking over Northstar and changing the name the company was out of business. As Northstar they had been in business for at least several years before Leung got his hands on the company and started making decisions. To spend all that time, money and effort to put a company out of business so quickly takes a "special talent." In that regard, Leung is well qualified. The people who worked for EDS lost their jobs as well.

If Empower were a real company with a real board of directors this debacle alone would have be enough to have Leung fired, never mind the previous 14 years of incompetence.  

"Commencement of Empower Defense Systems Inc. operations and the securing of a defence contract for the production and supply of military application control systems will be the Company’s principal focus for the 2013 fiscal year. Paul Leung, Jan 14,2013. 
 

The entire year 2013 and a large portion of 2012 was squandered. Its truly unbelievable. 
 

 
  The 2nd thing that jumps out at me is there is no mention of the handwriting patent. On May 21,2013 Leung claimed the company was "evaluating" the patent and had engaged law firms in Canada and the US to look at it. Then in Leung's Dec 2,2013 announcement Leung claimed there would be revenue from licensing the patent.  Now we hear nothing whatsoever. Why? Is Leung withholding information on the patent or did the lawyers tell him to forget it?

The only positive thing I see in this year end report is that the company is still alive.