AIC NATIONAL OPERATION CENTRE SHUT DOWN The downtown Vancouver office for the "AIC National Operation Centre" has been shut down permanently.
The office is now being sublet to an english language school. This occurred July 1,2015.
IMO this is material information that Leung should have announced on June 29,2015 when Leung announced he was shutting down the Calgary, Toronto and Burnaby AIC store locations.
This is far more than just the closing of an office. It represents the failure of yet another business plan. As such the investors have a right to know this material information. Investors also simply want to know the status of the company they have invested in. Why wouldn't Leung have included this information in the June 29/15 announcement? I don't believe Leung understands the damage he causes to the companies reputation or his personal reputation when he withholds information of this type. In my view he consistently uses incredibly bad, short sighted judgement.
"This new location brings the Company to the front step of the investment and financial community in Vancouver. Empower's new office will also serve as the head office for Empowers new subsidiary "AIC Global Communications Inc." The AIC head office will house its National Operation Centre (NOC) to monitor and control its telecommunication network serving its residential and business customers across Canada." -CEO Paul Leung, January 31,2014.
STAGNANT COMPANY:
Empower is now a stagnant company. There is no money to expand the business in any way whatsoever.
AIC is still in the red. Even if it were in the black it is never going to produce enough money to provide cash necessary to grow the business. Without millions more invested AIC will simply exist and I predict eventually decline to the point where it will be shut down.
HANDWRITING PATENT:
When the handwriting patent was announced the criminal stockbroker boasted it was worth a billion dollars. As time went by he shaved his "estimate" down to $1/2 billion dollars.
What is the real value of the patent? We don't even know if it has any value whatsoever. If it does have value it certainly won't be $1/2 billion. Would it be worth $100 million? Maybe in a pipedream.
I would be surprised if anyone would pay $10 million. If Empower were to receive $5 or 10 million for the handwriting patent that money could be used to recapitalize the company and maybe improve AIC's revenues.
Nearly 16 years have passed, $34.5 million have been squandered and virtually no hope of moving forward and getting at least some of our money back.
Maybe an angel investor could recapitalize the company? If so that investor would want a huge percentage of the company.
Another possibility would be for an investor with deep pockets to come along and buy out Leung, take control and make AIC/EPT into a real company.