AUSTIN, TX--(Marketwired - December 22, 2014) - EPIC Corporation Inc. (OTC PINK: EPOR) and Ronald Tucker, its CEO, announced, "EPIC's Board of Directors has authorized an offer to exchange shares of its Series A 5% Convertible Preferred Stock for common stock. The Board has voted to withdraw the announced stock dividend to its common shareholders; however, the seventh quarterly stock dividend to preferred shareholders will be paid as scheduled."
The Board of Directors has determined that the policy for a quarterly dividend for its common shareholders would not at this time be cost effective and others than EPIC's long term investors would benefit. EPIC has therefore withdrawn its announced quarterly dividend and has withdrawn its announced dividend policy to common shareholders.
The Board believes that its Series A Preferred Stock with its quarterly dividend and other preferential characteristics is cost effective and establishes a higher rate of return on investment for its long term investors.
The announced seventh quarterly stock dividend to the shareholders of the Series A 5% Convertible Preferred Stock will be paid as scheduled.
The announced Second Exchange Offer will be made on or before March 6, 2015, and those shareholders electing the Exchange will receive the quarterly preferred stock dividend for March 31, 2015.
About EPIC
EPIC CORPORATION is a special purpose financial services company. EPIC provides corporate, business and financial services to subsidiaries, affiliates, and independent companies. Our focus is on healthcare and consumer product companies. EPIC strives to provide capital growth for it and its shareholders through the acquisition, development and commercialization of technology and intellectual property. We realize, we cannot prosper in isolation. We and our strategic partners use various technologies and intellectual property to develop economical products. We are committed to grow our business through research and development, production, marketing, and sales of healthcare products and services and other consumer products.
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Visit www.epiccor.com for corporate information and http://www.otcmarkets.com/stock/EPOR/quote for investor and financial information.