IRVINE, Calif., Jan. 31, 2017 /PRNewswire/ -- EP Global Communications, Inc. (Public OTC: EPGL)
In a joint statement, EPGL announces that it has received its third consecutive US Patent allowance in the field of ophthalmic technologies while start-up partner InWith Corp. announces it will make a bid to buyout EPGL.
For EPGL, the allowed US Patent titled "Piezoelectric Sensor for Vision Correction" (U.S. 14/622,814), protects the sensing of the vibration of the ciliary muscle within the human eye, to trigger a self-focus mechanism within a soft contact lenses. EPGL's IP counsel was recently notified of the Allowance by the United States Patent and Trademark Office.
InWith Corp., a start-up company with plans to make new "body technologies" from wearable devices to implantable devices tied to a mobile wireless network, announced that it is seeking as much as $500 million in private funding.
InWith Corp. is a private company with 100 million authorized shares. InWith Corp. and EPGL previously announced a partnership to build EPGL's patented ophthalmic technologies. Several EPGL shareholders have requested and will receive a gift of Inwith Corp. equity. As a result, InWith Corp. will have private shareholders from all over the world. The Company has announced that Dr. Scott Peterson will be its Vice President. Dr. Peterson has been in practice for over 33 years and specializes in Glaucoma treatment and contact lenses. The management team of InWith Corp. will be fully announced by end of February 2017.
InWith Corp. will make a bid to buyout EP Global Communications, Inc. (EPGL) if EPGL shareholders allow the full offer to be presented by InWith Corp. via a Proxy Vote. The offer will involve a choice for EPGL's retail shareholders to be bought out in a cash price of up to 9.8 cents per share, or to receive approximately 125% of their current EPGL equity by percentage (total along with gifted shares) converted to InWith Corp. equity. The choice would be offered as "one or the other" to EPGL shareholders and they could make their choice individually from other shareholders. In any event, EPGL shareholders who formally requested the InWith Corp. gift equity offer, will receive that gift equity regardless if a full buyout is finalized.
EPGL will put the InWith Corp. detailed proposal before its shareholders in a Proxy Vote. The Company notes that other entities who hold first rights to purchase EPGL technologies, will continue to enjoy those rights through to the building of the products, regardless of any completed buyout.
About EP Global Communications, Inc.
EP Global Communications, Inc. is an advanced technology research and development company for both medical devices and consumer electronics devices specializing in microelectronic mechanical systems (MEMS).
For more information about EP Global Communications, Inc., visit www.epglmed.com
About InWith Corporation
InWith Corporation is a privately manufacturer and brander of high technology products in the medical and consumer electronics field.
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SOURCE EP Global Communications, Inc.