AUSTIN, TX--(Marketwired - January 05, 2016) - EPIC Corporation (OTC PINK: EPOR) ("EPIC"), and Ronald S. Tucker, EPIC's president announced "EPIC has earned an operating profit of $943,285 or $0.13 per share as of September 30, 2015, and a net profit of $675,285 or $0.09 per share, that the Board of Directors has established a bi-annual dividend policy for the common stockholders to be paid on June 30 and December 31 of each year, and that the Board of Directors affirmed a Third Exchange Offer to be effected as of July 15, 2016."
The operating profit $943,250 is the result of a one time license fee in the amount of $1,000,000 for an exclusive license for North American to sell AcuFAB® products to medical market segments paid by RX Healthcare Systems, Ltd., in a non cash tax free transaction. A complete description of the truncation is contained in the Statement of Information and Annual Report filed with OTCMarkets. A copy of the the Statement of Information and Annual Report can be downloaded by clicking here. A summary of information contained in the Annual Report are indicated as follows:
|
SUMMARY OF YEARS ENDING SEPTEMBER 30, 2015 AND 2014
|
| |
|
Description
|
2015
|
2014
|
| Operating Expenses |
58,807 |
156,662 |
| Operating Profit |
943,250 |
(150,735) |
| Other Interest |
(15,000) |
(76,549) |
| Other Gain (Loss) |
(250,000) |
1,400,288 |
| Net Profit |
678,285 |
1,173,004 |
| Shares Issued & Outstanding |
7,236,862 |
23,317,633 |
| Operating Profit Per Share* |
$0.13 |
($0.02) |
| Net Profit Per Share* |
$0.09 |
$0.16 |
| |
| Liabilities |
170,406 |
984,213 |
| Book Value |
4,028,101 |
2,462,801 |
| Book Value Per Share* |
$0.56 |
$0.34 |
*The 2014 amounts are adjusted to reflect 7,236,862 shares resulting after the reverse stock split.
EPIC's receives revenues from the sale of client and subsidiary securities, sale of licenses, royalties from licenses, and consulting fees. EPIC has been able to reduce its operating expenses by no longer engaging consultants to market the sell its securities and pay them in cash or in restricted securities. EPIC has been able to reduce its Liabilities through the exchange of securities for the debt.
About EPIC
EPIC, The Dividend Company, is a specialty finance company. EPIC provides limited funding to Development Companies while Tensleep Financial Corporation, a majority owned subsidiary, develops a complex financial plan that enables the Development Companies to rase capital and provide their investors with an exit strategy
Visit www.epiccor.com for corporate information and http://www.otcmarkets.com/stock/EPOR/quote for investor and financial information.