I believe it is about time to set the record straight!
You all know that he (the CEO) handed his demission in ACMG in February 2007 after his trip to Asia where he secured a well structured financing, promising to remain until the first plant would be operational. What you don’t know, and those who do know seem to have conveniently ignored, during the due diligence process doubts came about as to the legitimacy of the transfer agent and ACMG, or better the “shell corporation” into which ACMG (operating corp.) had been reverse merged. The lack of data was serious enough for the Asian financers to withdraw their offer for financing. They did however renew the offer for Alex to work for them, an offer he accepted together with the condition to sever all ties with ACMG and to remain silent.
It needs to be made clear that Alex never sold one single share nor did he ever get one single penny from ACMG, as a matter of fact he went bankrupt. That’s correct, at a time where he could have walked away from it all with his hard earned money from previous developed technologies he chose to invest everything he had to keep the project alive, costing him everything including his baby to which he had dedicated over a decade. Furthermore, he retired his entire share park, together with the shares his new employers had repurchased in the market (in total 118M shares), for the benefit of ACMG’s shareholders.
What really happened? Was the shell hijacked or was something wrong with the transfer agent, or both, or perhaps was someone else at play behind the scene? Or was it simply a case of failed financing? These questions will most likely remain unanswered but the fact remains that whatever the circumstances which led to the failing of ACMG, it drove Alex and his company into bankruptcy.
Fact is, he chose the public venue to finance his company’s growth, relying on outside expertise for lack of own knowledge and understanding of the stock market. That, my fellow investors, is the only thing Alex is guilty of: hiring the wrong ppl to manage a part of the business he was not familiar with, a mistake he paid dearly for.
How is it that ACMG has now become ALCX and still lists the same business and directors as back in 2007 when we all know that Alex is now working in Asia? That the (operating) company went bankrupt and was liquidated and that everyone else listed moved on with their lives? Who are the real owners of ALCX? Who is the TA? Where are the shares Alex and his partners retired? Doesn’t all this smell funny to you people? And the best answer you can come up with is: “the CEO ran off with the money”??? HOW IGNORANT!!!! Sorry but even the most lazy among you lacking any discipline and not bothering to do any homework or even rationally consider all facts at hand should have figured one thing out, that the conclusion and in this case is clear, whatever happened, the CEO was the biggest victim and lost the most. I want to set the record straight, I am Steven Sung Cheng and I briefly worked as PR officer for ACMG.
