LEUNG AND CHAN DUMPED
With the resignation of Manning Elliot its clear that professionals who value their reputation want nothing to do with Empower and Paul Leung/Amy Chan.
Leung and Chan are both qualified accountants who understand the rules of accounting as they pertain to Empower. They are fully aware of what Manning Elliot required to complete the year end report on time.
Manning Elliot has a strong reputation as a professional accounting firm who follow the rules. These are highly competent people. Why is it that 3 days after the due date for the year end report have they officially resigned? [dumped Leung and Chan?]
Is it because these 2 are following all the rules and looking out for the best interests of the people who trusted them with $30 million dollars?
The year end report could have been completed months ago and now, 9 days after the report was due Leung and Chan have engaged the services of Saturna.
Is all of this for the benefit of the investors? Hardly.
Will Saturna discover a reason why they do not want to do business with Leung and Chan? Will investors be informed Saturna has resigned as well?
The 1st quarter financial report is due in 11 days. I doubt it will be on time. The year end report from 2015 probably won't be completed in that time either.
One thing is certain; by delaying the financial reports Leung and Chan are able to hide the truth about the financial disaster they created a bit longer.
The 1st quarter MD&A will require a description of company business and an explanation/evaluation of where this company is headed. My guess is Leung and Chan want to avoid providing this information as long as possible.
This delay prevents investors from knowing the truth.
There is not going to be an AGM in November this year. This company will be wound down and sold off by then for a tiny fraction of what investors pumped in.
Invesors will likely receive nothing.
I am still shocked at the level of deceit from Leung and Chan at the 2015 AGM. These 2 came to the meeting with a plan to deceive the investors by pretending the company was moving forward with eCommerce and the handwriting patent. They did not want to face angry investors. They had to have discussed and prepared their deceptive plan prior to arriving at the AGM. Leung did all the talking as usual. Chan just kept her mouth shut and looked down as she has in the past.
The level of cowardice and deceit is astonishing.
Leung and Chan are not the people we thought they were.
What will be their next trick?
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For anyone who would like to read about one person that has been destroyed by Empower read the story below.
The criminal stock broker had a girlfriend who under his financial "guidance" lost her home in the dotcom bust in the late 1990's.
He had recommended she invest heavily in dotcom and when dotcom collapsed she lost so heavily she was forced to sell her home. With her remaining cash he recommended she invest heavily in Empower. When Empower was at $2/share and beginning to slide she ordered the fraudster to sell her EPT stock. That was a prudent decision. She didn't ask him his opinon. She ordered him to sell. The fraudster ignored her. She acquiesed to his will and never complained. She lost her remaining cash to Empower and because of this criminal and the incompetence of Paul Leung she is now totally financially destroyed.
She had a modest home in Vancouver prior to meeting the conman and was financially solvent. What would that home be worth today in Vancouver's hot housing market?
Because of one chance meeting with this fraudster she will be forced to work for the remainder of her life rather than retire and live a quiet, dignified life.
This is only one of many stories about real people who have lost heavily or lost everything following the financial "guidance" of the criminal stockbroker while supporting the self proclaimed visionary, Paul Leung.
When Paul Leung was told how much one particular investor had lost supporting the him, Leung's response was, "Thats not my problem." That is a verbatim quote.
That is a perfect example of the type of person Paul Leung is.