Replies to post #71829 on Flexpower Inc. (FLXP)

[itlogic]

That could be possible Dale, but we were told we bought intellectual property. No hardware or software, just interested potential clients.

"Check 21 China was an operating division of International Express Payment Corporation, Canada. The entire company was privately held by the founders and original investors.First, it must be noted that a technology company such as this has little in the way of hard assets. The intellectual property and capabilities of the management team are what you are buying."

We didn't even talk about procurement. What about the process of finding a vendor to supply the hardware? You could argue that when they announced that distributor of ATM's in China, that was their vendor. I would have to go read that PR to be sure, but that sounded like those ATM's were made in China. My theory for that is because I seem to remember them using the term "wholesale" which means you are getting them staright from the manufacturer. One of their Town Hall statements said:

"There was a delay in getting the scanning equipment cleared through customs coming in to China..."

That would mean they got a vendor outside of China right?

It seems to me that someting of this magnitude and dealing with other people's money would have all kinds of quality assurance checks and balances.

I remember hearing about the future of checking you bank balances and paying bills over you cell phone. That was probably a year or so ago, and it is just starting to be implememted now.