EPIC DECLARES QUARTERLY STOCK DIVIDEND FOR PREFERRED STOCKHOLDERS
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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