AUSTIN, TX, October 30, 2013 - - EPIC Corporation (OTCPINK: EPOR) (“EPIC”), and Ronald S. Tucker, EPIC's president, announced “EPIC for its year end dated September 30, 2013 earned $0.17 per share of issued and outstanding common stock, has a book value of $.67 per share, a return on equity of 176%. EPIC will also for an undetermined period is offering to exchange one share of its $1.00 face value Series A 5% Convertible Preferred Stock for 31/2 shares of EPIC’s common stock.”
EPIC for its year ending September 30, 2013, has earned $1,798,239 with 10,669,294 shares issued and outstanding, its total assets equal $8,343,854, and its book value is $7,103,897. EPIC’s earnings are the result of a tax free one time exchange, under §351 of the Internal Revenue Code, of all its intellectual property rights to AcuFAB and its AcuPAD products for 1,500,000 shares of a newly organized European Company’s common stock which represents a 27% ownership interest in that company. EPIC’s limited product sales of AcuPAD products had a gross margin of 55%. To view or download a copy of EPIC’s Annual Financial Statement click this link: https://dl.dropboxusercontent.com/u/71480488/EPIC%20Corporation/Financial%20Statements%209-30-2013.pdf
EPIC, during the past year, started a reorganization and restructuring plan. EPIC, as part of the plan, established a $1 face value Series A 5% Preferred Stock for EPIC and RX Healthcare Systems, Ltd., EPIC’s majority owned subsidiary. EPIC, in September 2013, transferred its healthcare products business to RX Healthcare, which obtained an exclusive license to sell and distribute accepted products throughout the Americas from the European Company in exchange for 3,900,000 shares of its $1 face value Series A 5% Preferred Stock as a onetime license fee.
“EPIC is a private special purpose financial services company with a trading security to provide long term investors with an exit strategy,” said Mr. Tucker. “EPIC’s objective is to provide its long term investors with capital growth through the corporate, business and financial development of strategic relationships or joint ventures primarily with third party Healthcare product and medical device companies.”
“EPIC’s management realized that as a private non-reporting but trading company with stock trading at less than $0.10 per share EPIC was not attracting long term investors even with all its good news. EPIC, at the same time, was not attractive for short term penny stock investors,” further stated Mr. Tucker. “EPIC’s management engaged in the reorganization of its business and restructuring of its organizations and financial structures to demonstrate that it was not a typical penny stock company. EPIC’s management wanted to show by actions not words that it was a unique company by any standard. The announcement of the exchange offer of Convertible Preferred Stock for common stock is such an action. EPIC will be making a more formal announcement shortly which gives details.”
“Epic by the nature of its business defines revenue as capital and revenue growth as capital growth,” stated Mr. Tucker. “Epic, based on its primary purpose, obtains sustainable growth of capital and uses its capital efficiently. EPIC creates capital through equitable interests in subsidiaries and joint ventures, and by granting of Licenses to its acquired products or technologies whether developed by its engineers or other independent parties.”
Porter Stansberry wrote, “[When] a business reaches a certain level of capital efficiency, the shares will soar over the long run. . . The incredible thing is . . . no matter how big or small the company is – its shares almost always soar over the long term.”
EPIC is a private special purpose financial services company with a focus on healthcare and medical products and service companies. Visit www.epiccor.com for corporate information and http://www.otcmarkets.com/stock/EPOR/quote for investor and financial information.
Ronald Tucker CEO
Telephone: (888) 991-PADS (7237)
SOURCE: EPIC Corp.