Post by
walker77 on Sep 11, 2014 7:13pm
$1 MILLION
Leung's so called "new beginning" looks like a farce. Empower's total market cap after 1 1/2 decades and nearly $33 million dollars has hit a new all time low of $1 million.
The stock price itself hit a new all time low of 1.5 pennies per share. How long will it be before the stock blows through 1.5 cents to a penny per share or lower? A week? Month?
Today Leung has decided to loan the company he founded and then drove into the ground $200,000 at the outrageous interest rate of 13%. Oh, I'm sorry, 12.95%.
Does Leung think by shaving 5/100ths off the rate that it will appear lower? This isn't a store where prices are marked at just under the next dollar to entice buyers.
In this world of record low interest rates Leung thinks he should be paid 12.95% on his money after he made the decisions that put the company in this position in the first place. And like the other loans if it is paid back early he wants a 3 month interest penalty. And if all thats not enough he has decided to dilute the company once more and give himself another 800,000 shares just for making the loan. That puts the company at 72.2 million common shares.
Leung may out do himself and top 80 million common shares by the end of 2014.
Its a darn good thing Leung is a visionary.