PENNY STOCK
Empower is now truly a penny stock now that it is trading at 1 single penny per share. It can only go as low as 1/2 cent before it is delisted.
It took 15 years to get there beginning at 35 cents at the IPO in the fall of 2004, peaking at $2.35 in June 2005 before it began a very long, protracted, 9 year decline to where it is now.
Its hard to imagine a CEO being more incompetent than Paul Leung. In all seriousness he may have set a Canadian record for the number of failed projects.
INVESTOR RELATIONS:
+++++++++++++++++++++++
Its almost as if Leung has set out to destroy Empowers reputation. Time after time this guy has made annoucements that haven't come through. Does anybody besides the willfully blind believe anything Leung says?
Case in point:
"The Company will vigorously protect its stylus based handwriting recognition Utility Patent to exclude anyone from infringing or misusing the Utility Patent without first obtaining a proper license and permission from Empower." -Paul Leung, May 21,2013.
Any lay person who takes 15 minutes can learn online that to enforce a patent of this type costs millions of dollars. Empower is broke. Where was Leung planning on getting the money for this type of legal action? I don't believe even Leung is so naive and incompetent that he didn't realize this when he made this announcement nearly 1 1/2 years ago. So why would he make the announcement? Was it a lame attempt to spark some interest in the company?
This patent was originally announced Oct 9,2007. The application was made to the US patent office in about 2002. A patent of this type is generally good for 20 years beginning with the application date. That makes this patent about 12 years old in the eyes of the US patent office with 8 years remaining. Every day that passes makes the patent worth less and less.
When the patent was announced in October of 2007 Empower had 37 million shares outstanding and a $19 million deficit. Today Empower has 74 million shares outstanding and a $33 million dollar deficit. Leung has spent 14 million since Empower was granted this patent.
If this patent really does have value [and that is debatable] and Leung had spent only half the $14 million he has squandered since Oct 2007 on worthless projects enforcing the patent we may have actually got our money back and made a profit. Obviously that didn't happen.
Now Leung is trying to claim he has a compendium of state of the art products to sell. The only product in this so called "compendium" that Leung mentions in the website is the ISC and the motion reduction device. Why not list the others? Probably because there are no other products Empower can sell. Its likely another one of Leung's fairy tales. But I acknowledge I could be wrong.
If Empower actually does have any viable products to sell then Leung should list them on the website.
My challenge to Leung:
List this compendium for all of us who paid for these products to see on the website.
[it would also be helpful to begin acting like a real CEO]