Hello Empower Team, Congratulations on the CERES Cruise Terminal activities set-up, well done!
I know I speak for dozens or even hundreds of Empower Shareholders in regards to concerns with the delays in the acquisitions of the Thornhill 4 medical clinics & the Sudbury 4 medical clinics groups. The former was announced Oct. 21 2021, the latter Oct. 27 2021.
Shortly after those announcements, Mr. McAuley specified in interviews that finalizing the acquisitions would be performed only after the 2021 fiscal year, in early 2022, in order to avoid the consequential auditing & related documentation affecting Year End Financial Statements. This was understandably the best decision, and so kudos to Mr. McAuley.
Since the original announcement and subsequent specifying of the acquisition timeline, Mr. McAuley stated in the Agoracom Q & A interview of Feb. 22, 2022, that the acquisitions were imminent and at the signing stage and should be completed “within days”.
As we all know, that timeline has come & gone without the acquisition being finalized. Since that Feb. 22 interview, there has only been a short statement by Empower on March 16th (as part of a general Business Update NR) that “All parties continue to work towards signing a definitive agreement and a closing is forthcoming.”
As 2022 Q1 has also come & gone, many shareholders assumed that there was no point in finalizing these acquisitions at the very end of Q1, considering the cash disbursement needed but without accumulating the consequential new clinics revenue throughout the Quarter.
Considering the 2 unannounced & surprise PP’s in 2 months (Jan. + March), for a total of $5 million in cash but yet no finalizing of the 2 clinics group acquisitions, and the fact we are now more than a week into Q2 & 6 months after the original announcement of these clinic acquisitions, still not completed, Shareholders would very much expect a clear & specifically detailed status on these transactions, especially considering Mr. McAuley has specified on 2 occasions since Jan. 1 2022 that these acquisitions are “imminent”, again, originally announced 6 months ago.
Thx ahead for your time reading this and your timely response regarding the 2 clinic group’s acquisition status.
Good Day, keep up the good & hard work Empower Team, and have a Great WE!