AUSTIN, Texas, Oct. 01, 2018 (GLOBE NEWSWIRE) -- EPIC Corporation (OTC PINK: EPOR) (“EPIC" or “Company”) and Ronald S. Tucker announced “EPIC’s Board Of Directors has declared a stock dividend to its Preferred Shareholders bringing current the 6 quarters in arrears, and announced that a third person has presented the Company with a significant opportunity.”
Stock Dividend
The directors declared a stock dividend to pay the quarterly dividends for the third and fourth quarters of 2017, ending on September 30, 2017, and the four quarters ending September 30, 2018, with the Company’s common stock to the shareholders of the Company’s Series A 5% Convertible Preferred Stock as of record on October 22, 2018, which is to be paid October 25, 2018, and the shares to be issued are to be equal to a total of 24% of the Preferred Shares owned by the Preferred Shareholders, and fractional shares are to be rounded up.
Significant Opportunity
Within the last 60 days the Company has been investigating and learning more about what management believes to be a significant opportunity presented by a third party, who has made an initial cash investment in the Company.
The significant opportunity within one to two weeks will be presented on the Company’s website, www.epiccor.com.
Past Activities
EPIC during more than 12 months has been working to find potential acquisitions but has not found one that met its criteria, and for the last final year and the prior half year had suspended the quarterly dividend to the Preferred Shareholders.
The Company, during this time, was considering a capital restructuring that would provide a cleaner and more simple acquisition transaction. However, that is not now necessary.
CONTACT:
Scott McIntosh
Email: info@epiccor.com
Telephone:949-228-2352