AUSTIN, Texas--(BUSINESS WIRE)--EPIC Corporation (OTC PINK: EPOR) (“EPIC” or “Company”) and Ronald S. Tucker announced: “James G. Xilas resigned as an officer and director of EPIC on February 26, 2019. EPIC has completed its capital structural reorganization into a Digital Currency Company, and EPIC has received DWAC approval from DTC.”
Resignation
Mr. Xilas presented an ideal to the President of EPIC and provided the financing for EPIC to become a financial holding company consisting of a company that would develop a cryptocurrency backed by gold or silver, a licensed broker dealer, and a licensed investment advisor.
EPIC’s President developed the methodology for the development of the cryptocurrency but the vision and goals of the President and Mr. Xilas were different. As a result Mr. Xilas resigned, and EPIC has given up any and all interests in the name of EPICcoin and the organizations that were incorporated by Mr. Xilas relating to EPICcoin.
Capital Structure Reorganization
To restructure its capital, EPIC sold off its 2,000,000 qualified shares of common stock and 2,000,000 Series A, B, C, and D qualified warrants of Tensleep Financial Corporation to RX Healthcare Systems, Ltd., for a 5 year promissory note in the amount of $625,000, with no interest; in addition, EPIC sold off its 1,900,000 qualified shares of common stock and 1,900,000 Series B, C, and D qualified warrants of EPIC Medicor Corporation and 840,000 qualified shares of common stock and 840,000 Series C and D qualified warrants to Tensleep Financial Corporation for a 5 year promissory note in the amount of $715,000, with no interest. Each note to be collateralized with 625,000 and 715,000, respectively, of EPIC common stock.
EPIC, in addition to the above transactions, has written off the License of $1,950,000.
A Digital Currency Company
EPIC’s current business is the monetization of American Eagle silver and gold coins into a digital currency that is valued on their sales price in EPIC Digital Dollars (EDD not USD). More information about EPIC’s plan of operations will be provided in a forthcoming press release.
DWAC
Shares of EPIC common stock should now be able to be deposited directly into shareholder accounts.
About EPIC
EPIC is a digital currency company. It has developed a methodology that creates an effective and usable digital currency with a stable value that will enable digital currency holders to purchase commercial and financial products and services from affiliated companies which accept EPIC’s digital currency.