AUSTIN, TX - September 9, 2014 - InvestorsHub NewsWire - EPIC Corporate (OTCPINK: EPOR) (“EPIC”) and Ronald S. Tucker, EPIC's president, announced “the Company’s Board of Directors declared a quarterly stock dividend on its Series A 5% Convertible Preferred Stock to preferred shareholders of record on September 25, 2014, which will be paid September 30, 2014.  No fractional shares will be issued.”

This is the first quarterly dividend since the Exchange Offer, however it is the sixth quarterly dividend paid to preferred shareholders.

The 5% dividend is $0.0125 per preferred share per quarter (“Dividend Value Per Share”) and the total value per preferred shareholder is equal to the total number of preferred shares owned times the Dividend Value Per Share (“Total Dividend Value”).  

The number of shares of common stock to be receive by the preferred shareholder is equal to the Total Dividend Value divided by the adjusted per share value of the common stock (“Adjusted Value”).

The Adjusted Value is a 25% discount from the volume weighted average price of the common stock for the 10 market trading days prior to the date of the dividend declaration (“VWAP”), but no less than $0.10 per share.  The VWAP is $0.16 per share and the Adjusted Value for this dividend quarter is $0.12 per share.

EXAMPLE:

Assume that you own 100,000 shares, the Total Dividend Value will be $1,250 for the quarter (100,000 X $0.0125 = $1,250).  The Adjusted Price is $0.12 (.16 * .75 = .12).  Since $0.12 is greater than $0.10 the number of shares to be receive in the stock dividend is 10,416 after eliminating the fractional share ($1,250 / $0.12 = 10,416.66).

The shares you receive in this stock dividend will be without restriction or legend, except for those received by affiliates.  To sell the shares an affiliate must file a form 144 with the SEC.

The Company makes no representation regarding the taxability of the stock dividend to the preferred stockholders.  They should consult their tax advisor for any tax advice regarding the dividend.

UPDATE

The Company has prepared and filed a 15c2-11 with a broker/dealer to trade its Series A 5% Convertible Preferred Stock.  The broker/dealer is processing the filing before filing it with FINRA.  We will continue to provide updates on the filing.

Visit www.acufabinsoles.com to buy insoles
Visit www.epicistore.com to buy pressure overlays
Visit www.epiccor.com for corporate information and
http://www.otcmarkets.com/stock/EPOR/quote for investor and financial information.

CONTACT:

Gregory Stachacz, Director of IR
Email: info@eporco.com
Telephone: 904-282-3093
 
 

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