RE:E Commerce Comittment
It is highly unlikely fridays volume of 1.3 million shares had anything to do with eCommerce. Leung claimed he was moving the company towards eCommerce nearly 13 months ago. Like nearly every other announcement the "visionary" ever made, it was either a flop or just another one of his cow dung stories.
My hope is fridays volume has something to do with Leung and Chan selling off control of Empower and part of a deal for another business person to take over the scraps that Leung spent $34.5 million dollars and 16 years "creating."
I doubt there is very much value in this company. If you take a look at the website Leung claims the company will "capitalize on the technologies we have built."
That claim is nothing but more cow dung. When the current incarnation of Empower's website came out 2 or 3 years ago, Leung claimed he had a "compendium of state of the art technologies." Again, nothing but more cow dung from Leung.
The fact is that all of the products Leung created were developed years ago. They never sold and they never will sell. They are all worthless garbage. Even Leung knows that.
The only possible exception I can think of is the "see the the fog" technology, which Leung has never been able to sell either.
It would be very good to see Leung and Chan sell off control of Empower. I think everyone wants rid of these two screwups as soon as possible.
Hopefully, if there ever is a new CEO he will be a real business person, unlike Leung, with some good ideas and drive to make something happen.
The first thing any new CEO should do is to hold a shareholders meeting and make it very clear that Leung, Chan, the criminal stockbroker and everyone else involved in company management is gone permanently and will have no influence in the future of the company whatsoever. Then he or she would need to lay out a new direction for the company and a real business plan. If executed properly, a competent business person with a good business plan could reignite investor interest. This is something Leung either never understood or simply didn't have the courage to do. Leung was encouraged on several occassions to hold a meeting of this type but he always declined.
On July 11th Leung is again required to report on progress for last years financial report. My guess is he will again say nothing but claim he is still working on it.
I am not sure if Leung and Chan realize that this strategy of delaying the financial report for so long makes them look corrupt and like the south end of a horse going north. Nothing new there.