EP Global Communications, Inc. (OTCMKTS:EPGL) rallied last week moving upward nicely from .02 cents to more than .05 cents adding another 25% in today’s trading. In a joint statement from January 2017 EPGL announced that it received its third consecutive US Patent allowance in the field of ophthalmic technologies, while start-up partner InWith Corp. announced it will make a bid to buyout EPGL.
We have not seen news or filings regarding this, and this may be the catalyst for the upward movement in the stock price and volume. Keep in mind the news below is from late January 2017, so this price move which started last week is on a 90-day lag. A look at the chart below shows the price movement for 2017.
EP Global Communications, Inc. (OTCMKTS:EPGL) is an advanced technology research and development company for both medical devices and consumer electronics devices specializing in microelectronic mechanical systems (MEMS).
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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.
The two companies previously announced a partnership to build EPGL’s patented ophthalmic technologies. Several 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 the company’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, company 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. Notes from the company indicate 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.
EP Global Communications, Inc. (OTCMKTS:EPGL) shares are higher today and have a nice run going, but the lack of news is a bit concerning. I would revisit this symbol, or add it to your watch list as we wait for some news to meet the price appreciation. They are current with the filings now after filing late in February, but this is normal in the industry, many stocks take time to get things in order.
I would look for some details of the take out mentioned previously in a press release from the company. Look for new information and filings relative to the InWith gift equity offer, this will change the valuation which may be starting to be reflected in the price movements. This is a developing story and we will update as the color becomes clear. For continuing coverage on shares of $EPGL stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!