EPGL Proposes Reduction of Common Shares and Authorized Shares
IRVINE, Calif., Feb. 12, 2014 /PRNewswire/ -- EP Global Communications, Inc., (OTC Ticker EPGL) announces that EPGL management has proposed a share structure reduction which would bring the authorized share to fewer than 2.99 Billion.
EPGL has been in discussions with PwC Caymans Ltd., who is the custodian of 2 Billion shares of EPGL common stock for AJW Funds, about the proposal of retiring a large number of shares and reducing the authorized count. Specifically, Company President, Michael Hayes is proposing to retire a large amount of his personal shares if PWC will match his offering exactly.
"This action would increase the equity percentage held by all common retail shareholders. I stand ready if they (PwC) are willing." Said Michael Hayes.
The Company is currently maneuvering to become fully SEC reporting, up-list trading tiers and a reduction in share structure is part of that overall strategy under proposal by Company Management.
About EP Global Communications, Inc.
EP Global Communications, Inc. is an advanced technology development company for both medical devices and consumer electronics devices.
Safe Harbor Statement
Certain matters discussed in this press release are "forward-looking statements" intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. In particular, the Company's statements regarding trends in the marketplace and potential future results are examples of such forward-looking statements. The forward-looking statements include risks and uncertainties, including, but not limited to, the timing of projects due to the variability in size, scope and duration of projects, estimates made by management with respect to the Company's critical accounting policies, regulatory delays, clinical study results which lead to reductions or cancellations of projects, and other factors, including general economic conditions and regulatory developments, not within the Company's control. The factors discussed herein and expressed from time to time in the Company's filings with the Securities and Exchange Commission could cause actual results and developments to be materially different from those expressed in or implied by such statements. The forward-looking statements are made only as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
SOURCE EP Global Communications, Inc.