Heres the latest I have from the AGM.
The EPT AGM was held on Wednesday and the discussion period was most interesting. Some clarification surrounding the termination of the Northstar Networks acquisition was delivered. Leung stated that Northstar has not generated an audited statement for 2011 for EPT to do due diligence on. This has been delayed since January and with several extensions no statement is yet available for examination, or current enough to deliver to TSX for approval. The statements are generally valid for 6 months without an update.
Northstar Networks is currently in default on several loans, accounts payable and rent to the landlord. The landlord has now seized the premises. Other financial difficulties impair the value of the business. EPT had attempted to resolve some of these problem areas along with Northstar but they became more unwieldy as their complexity was uncovered.
The defense industry contracts have enormous potential and EPT has created the Empower Defense Systems division to continue efforts in this sector.
The time constraints to finalize this transaction forced the termination of the acquisition and the exercise of the GSA to protect the EPT shareholders financial interest. Ongoing value for shareholders is in the continued development of defense contract negotiations
BONUS
Many manufacturers are now using handwriting recognition software that contravenes EPT's Patent issued in Oct. 2007. 2013 should be a good year to enforce the patent and seek license revenues. Licenses should reap huge revenues! This patent covers any contiguous writing. It has been several years since the creation of this patent but the future for it is now.
Empower Technologies™ Granted US Patent On
Pen-based Handwriting Recognition Method For Computing Devices
Richmond , British Columbia – October 9, 2007 - Empower Technologies Corporation (“Empower”) (TSX.V: EPT) is pleased to announce that the US Patent Office has granted the Company a pen-based (or stylus-based) handwriting recognition method for computing devices. The patent is for an improved system and method for pen-based handwritten and keystroke data input into a computer system (such as a smart phone or a tablet computer with pen/stylus-based handwriting input capability). The system and method receives pen-based data entry from multiple related input boxes within a handwriting area on a digitizer pad. Thread-based processing allows each input box or group of input boxes to be separately evaluated, providing for continuous character recognition. Character strokes entered into each input box or group of input boxes are saved and interpreted together to allow more complete recognition of naturally written characters. Improvements on keyboard layouts are also disclosed.
The Company will conduct an evaluation of the patent claims to determine the strength of a claim of infringement against any possible infringing technologies. If the Company detects any infringement and the conditions are right, then it will vigorously defend the patent until a satisfactory outcome is reached.
For more information on the patent granted, please visit https://www.uspto.gov/ and search for US Patent No. 7,280,695 titled “ System and method of pen-based data input into a computing device”.