AUSTIN, Texas--(BUSINESS WIRE)--EPIC Corporation (OTC PINK: EPOR) (“EPIC" or “Company”) and Ronald S. Tucker announced that, “EPIC has cancelled the reverse stock split and that Tensleep Financial Corporation, its Parent Company, has discontinued EPIC’s business operations.”
EPIC’s Lack of Capital
Ronald Tucker is the President of both EPIC and Tensleep Financial Corporation (“Tensleep”) (EPIC being a subsidiary of Tensleep). Mr. Tucker, as the President of both companies, has enlarged the original concept for creating a cryptocurrency into a Virtual Monetary System that pairs a crypto with precious metals to create EPIC Digital Dollars (“EDDs”).
The EPIC Monetary System to succeed must have substantial capital to purchase precious metals and to advertise and attend trade shows. EPIC has limited funds and is unable to provide the infrastructure required to support the creation of the EPIC Monetary System. Therefore, it cannot continue its business operations. The nature of EPIC’s past businesses will not enable it to raise capital. It is not and never has been a finance or financial company, and neither EPIC nor Tensleep have ever been able to raise capital for EPIC.
Tensleep Financial Corporation
Tensleep is a finance and Financial Services Company that has been funding and is able to continue to fund the infrastructure necessary for the development of the EPIC Monetary System and initiate limited sales of precious metals for conversion to EDDS for a limited period of time. During this limited period of time EPIC will be seeking to find a financial partner that will provide substantial capital that can be used to purchase precious metals and more importantly to advertise, attend trade shows, and provide EDD Members with funding to purchase good and services with a national currency secured by their EDDs.
EPIC Capital Reorganization
Whether Tensleep can raise capital for the EPIC Monetary System or not within a short period of time, EPIC will undergo a complete capital reorganization. The nature of the capital reorganization will be determined at that time.