AUSTIN, Texas, Dec. 17, 2018 (GLOBE NEWSWIRE) -- EPIC Corporation (OTC PINK: EPOR) (“EPIC" or “Company”) and Ronald S. Tucker announced that the Board of Directors has cancelled the forced redemption of its Series A 5% Convertible Preferred Stock (“Preferred Stock”), has amended its Preferred Stock to provide quarterly dividends in cash or common stock, in the discretion of EPIC, that is a given percentage of the issue and outstanding preferred stock, has established a fixed conversion rate for each share of the Preferred Stock issued and outstanding; and has made the following announcements:
1. The Board of Directors Amended the Preferred Stock to provide that any quarterly stock dividend in common stock to be equal to 10% of the issued and outstanding Preferred Stock on the given record date.
2. The Board of Directors amended the Preferred Stock to provide a right to cover one share of preferred stock for two shares of EPIC common stock.
3. The Board of Directors approved a Preferred Stock quarterly stock dividend of its common stock equal to 10% of the issued and outstanding shares of preferred stock to its preferred shareholders of record on December 28, 2018, and payable on December 31, 2018, or as soon as possible thereafter. All fractional shares are to be rounded up.
4. The Board of Directors has authorized a voluntary exchange to shareholders of common stock, held in street name, for shares of the Preferred Stock on a basis of one share of common stock for one share of Preferred Stock. The exchange date is to be on or before January 31, 2019. The minimum number of shares of common to be exchanged is 25,000 and the maximum number is 250,000.
5. EPIC is reinstating its listing with OTCMarkets OTCIQ in order for EPIC to be designated as having “current information”
6. The launch date to sale the commodity representing an EPICcoin™ is set for January 31, 2019.
7. EPIC incorporated its wholly owned subsidiary EPIC Online Brokerage LLC (“EPIC Brokerage”), and is filing an application for a broker/dealer license from FINRA. EPIC Brokerage will be an Affiliate Member of EPICcoin.Net™ and will accept EPICcoin™ in its investor brokerage accounts.
About EPIC
EPIC is different kind of crypto company. It and its subsidiaries have developed a methodology that creates a usable digital currency enabling consumers to purchase basic products and services from standard retail and wholesale companies, including its subsidiary EPICex™.
Digital currencies must have and maintain a relatively stable price to be used in financial and commercial transactions. Cryptocurrencies generally are not a usable digital currency, because of their extreme price fluctuations. The price fluctuations create a lack of confidence, acceptance, and utilization in mainstream commercial and retail markets. EPIC’s digital currency will have a variable but stable price and possess an inherent potential for value appreciation.
Cryptocurrencies, for the most part, are a reckless speculative investment under the pretext of being a digital currency.
EPICcoin™, to avoid being a reckless speculative investment, represents a commodity that is actually bought and sold based on a quoted price. EPICcoin™ does have an element of speculation because it has a quoted price. An increase in price would give it greater purchasing power, but a decrease in price would reduce its purchasing power.
CONTACT
Scott McIntosh
Email: info@epiccor.com
Telephone: 949-228-2352