SOURCE: Epic Financial Corporation

October 27, 2006 09:15 ET

Epic Financial Corporation Terminates Relationship With AccuBrite, Inc.

FRESNO, CA -- (MARKET WIRE) -- October 27, 2006 -- Epic Financial Corporation (PINKSHEETS: EPFL) announced today that it has rescinded the technology license and marketing agreements which had been entered into with AccuBrite, Inc. The move, which allows Epic Financial Corporation to focus solely on its financial services products, was reached with Lenny Greene, President of AccuBrite. The mutual rescission included cancellation of the Epic common stock issued to AccuBrite, transfer to AccuBrite of ownership of Epic's subsidiary, Inkway Corporation, as well as the creation of a future monetary obligation of AccuBrite in favor of Epic. No further details of the transaction were disclosed.

About Epic Financial Corporation

Epic Financial Corporation, through its wholly owned subsidiaries, Financial Insights, Inc. and ASAP Marketing Corporation, owns and markets the unique mortgage/debt reduction software and the "Epic Wealth Builder™" software to the financial services marketplace. In addition, it will continue to utilize its exclusive license with NoMoreMortgage™ to go directly to consumers to offer these mortgage/debt reduction services.

A number of statements referenced in this Release, and in interviews that have been granted, are forward-looking statements, which are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995, and within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, and goals, assumption of future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this Release may be identified through the use of words such as "expects," "will," "anticipates," "estimates," "believes," or statements indicating certain actions "may," "could," or "might" occur. Such statements reflect the current views of Epic Financial Corporation with respect to future events and are subject to certain assumptions, including those described in this release. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products, services, and technologies, competitive market conditions, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expenses, and other factors. The actual results that the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. Epic Financial Corporation does not undertake any responsibility to update the "forward-looking" statements contained in this news release. Any communications received by fax or e-mail concerning Epic Financial Corporation which have not been authorized by the Company or its investor relations/media advisory firm are specifically disavowed by the Company.

Contact Information

  • Contact Person:
    Rodney Ray
    CEO
    Epic Financial Corporation
    559-435-4380