EP Global Communications, Inc. Releases Dramatically Improved Balance Sheet After Restructuring, Announces New AssetsPR Web
Irvine, CA (PRWEB) November 28, 2012 (PRWEB) November 28, 2012
EP Global Communications, Inc. (the Company), (Pink Sheets: EPGL.PK), soon to be named EPGL Medical Sciences, Inc., is pleased to announce that it has released financial information about the Company for the first time in over two years after a successful restructuring. The Company was successfully restructured in July of this year and has now shed 100% of major debt, some $10 million dollars. 100% of major debt was converted to equity by creditors in favor of restructuring the Company into a medical device company. The Company will move up to Current Information on the OTC and will move to OTCQX in 2013 on the way to full SEC reporting once again. We have shed all major debt and have brought in new assets with significant value to EPGL, said Michael Hayes, President. We believe with our incredible Medical Team and the new addition of our latest BioMEMS assets, we are significantly undervalued on the market at this time.
EPGL is announcing today for the first time, it has acquired significant new assets other than the MPDD device rights, in the BioMEMS arena. BioMEMS will be a major focus for the Company going forward as previously announced. We have the best new medical team in the medical device business now and we have new proprietary technology that is incredible in its capabilitiess said Hayes. We will unveil this technology fully in the coming months and we know our shareholders will be very pleased with what we have accomplished for them. These new assets represent a significant portion of the value represented on our balance sheet. We believe that not only is the balance sheet reflective of our present value, but may be very conservative to the full value of this technology we now have. The Company notes that the new assets announced today were acquired after October 30, 2012.
Backgrounder on BioMEMS Technology
MEMS have many characteristics that make them appealing for biological applications, including the ability to control their physical and chemical characteristics on the micrometer and nanometer scale. Additionally, the exact temporal control that can be achieved over MEMS operation makes the devices particularly attractive for drug delivery applications where precise dosing is required. The microchip for drug delivery developed in our laboratory , for example, is capable of pulsatile release of drugs by opening various reservoirs on command. The addition of hydrogels, biosensors, and other features that are responsive to the local environment of the device will allow MEMS to operate in a more closely integrated manner with the biological surroundings. Further, the application of MEMS technology in novel areas such as stent fabrication and immunoisolation capsules offers the potential for significant improvements in biological integration of a wide range of implantable devices. The growing interest in combining living cells with microfabricated devices, and in using microfabrication technology for tissue engineering and drug delivery, may ultimately lead the way to fully integrated, MEMS-based devices that could augment or replace entire biological systems in the human body.
About EP Global Communications, Inc.
EP Global Communications, Inc. is a medical device manufacturer and marketing company with exclusive rights to a new FDA 510k cleared medical device called the Muscle Pain Detection Device. The MPDD is a revolutionary new diagnostic tool for the detection of muscular originated pain in the human body.
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.
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