RECORD LOW + Market ManipulationWith yesterdays trading price of 2 cents Empower has hit a new record low. How low will it go? Who would have ever thought it would drop this far from its high of $2.35 eight years ago?
With this weeks record low the stock is now trading at less than 1% of the price that Leung sold it to his most loyal supporters in June 2005 at $2.25.
Where is Leung? No where to be seen of course.
What about the shares Leung sold for a nickel last year? That pathetic financing closed April 4, 2013 raising a paltry 216,000. Those are gross proceeds. Who did Leung pay a commission to?
The suckers received one whole share and one half warrant with every unit. Those warrants expired nearly 2 months ago- just like all the other warrants Leung included in past financings. [except for the warrants that were fully exercised for $1.00 around 2005-2006]. The stock was trading at 6-7 cents the day Leung's nickel financing closed. The stock has dropped nearly 70% in value since that time. Once again Leung burnt his best and most loyal supporters.
Leung claimed he was going to use the money for purchase orders for EDS.
"The proceeds from the Private Placement will be used to finance the ramping up of the operations and purchase order(s) of the newly formed wholly-owned subsidiary Empower Defense Systems Inc. ("EDS") and for general working capital purposes."-Paul Leung, April 4, 2013.
Once again Leung has tripped over his 2 left feet.
Will Empower soon be trading at 1 cent or less? Whats to stop it from going lower? Even with the offer at 2.5 cents it remains virtually dormant.
This is a sure sign [if we needed another] that there is almost no confidence in Leung whatsoever.
MARKET MANIPULATION:
If you took the time to look at yesterdays trading there were 2 trades. The first for 10,000 shares at 2.5 cents and then with less than 2 minutes remaining in the trading day someone decided they needed $30 dollars. That "investor" sold 2000 shares at 2 cents using TD. The cost of the trade is $9.99. So he walks away with $30 dollars after commission. Maybe he needed an extra $30 for dinner?
In the past the criminal stockbroker had been manipulating this stock by high closing in the fall of 2005 and other techniques over the years to keep the price up. Now it appears somebody is trying to push the stock price down. Why? Have they got a large bid at less than 2 cents? Is there a new insider that wants cheap stock?
IMO Paul Leung is an embarrassment.