SOURCE: EPIC Corporation

EPIC Corporation

October 31, 2013 09:15 ET

EPIC Earns $0.17 per Share, Has a Book Value of $0.67 per Share and a Return on Equity of 176%, and Offers to Exchange One Convertible Preferred Share for 3 1/2 Shares of Common Stock

AUSTIN, TX--(Marketwired - Oct 31, 2013) - EPIC Corporation (PINKSHEETS: 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 face value Series A 5% Convertible Preferred Stock for 3 1/2 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.

"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."

About EPIC

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.

Contact Information

  • CONTACT:

    Ronald Tucker
    CEO
    Email: Email Contact

    Telephone: (888) 991-PADS (7237)