EPGL Opens Negotiations at $1.1B with CooperVision
Post# of 47038
Posted On: 03/30/2015 9:42:15 PM
EPGL Opens Negotiations at $1.1B with CooperVision!
http://money.cnn.com/news/newsfeeds/articles/...G67609.htm
CooperVision, Inc. Seeks Intermediary as EP Global Communications, Inc., Opens Negotiations at $1.1B
PR Newswire
Ophthalmic Technologies Discoveries Could Revolutionize the Future of Eye Care
March 30, 2015: 01:11 PM ET
IRVINE, Calif., March 30, 2015 /PRNewswire/ -- EP Global Communications, Inc. (OTC-PINK: EPGL) In a new material development to shareholders, EPGL has opened negotiations with CooperVision, Inc. at $1.1 billion for the exclusive Option to License their new ophthalmic technologies. As previously disclosed publicly, CooperVision, Inc. and EP Global Communications, Inc. have co-developed new contact lens technologies, which has led to several new patent filings. It is estimated by some industry experts that just one of these newly developed technologies could add $5 billion annually to contact lens sales worldwide.
CooperVision, Inc., who is represented by Tom Counts of Paul Hastings, LLP in San Francisco, has requested that EPGL immediately grant the exclusive Option to License the technologies several months earlier than EPGL had expected. Because of this new development and the value of EPGL's work, EPGL has opened negotiations at approximately $1.1 billion for the exclusive Option to License on all of the technologies at stake.
"We believe Mr. Counts is a reputable person we can work with via a proposed intermediary. CooperVision, Inc. has the potential opportunity with these new technologies, to dominate a growing new space in contact lens technology, a new market segment which companies such as Google, Novartis and J&J are publicly vying for. We know that those companies would be keenly interested in having this technology if they could," said Michael Hayes, President of EPGL. "The future of vision care is augmentation and electronic contact lenses, in the opinion of many experts. A revolution not unlike that of the smart phone is coming. A lot is at stake here." EPGL management believes an amicable deal can be reached between the companies in the near future.
In other developments, EPGL and AT&T continue work on several newly identified Intellectual Properties. The two companies signed a Development Agreement in December, 2014 and are now exploring projects that may result from the jointly conceived technologies. "These technologies are very timely in the wearable area and we believe there is a very large untapped market for them. We are very excited to be working with AT&T on cutting edge technologies," said Hayes.
EPGL will keep the investment community informed as these and other developments progress going forward.
About EP Global Communications, Inc.
EP Global Communications, Inc. is an advanced technology research and development company for both medical devices and consumer electronics devices specializing in microelectronic mechanical systems (MEMS).
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.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/coopervision-inc-seeks-intermediary-as-ep-global-communications-inc-opens-negotiations-at-11b-300057706.html
SOURCE EP Global Communications, Inc
http://money.cnn.com/news/newsfeeds/articles/...G67609.htm
CooperVision, Inc. Seeks Intermediary as EP Global Communications, Inc., Opens Negotiations at $1.1B
PR Newswire
Ophthalmic Technologies Discoveries Could Revolutionize the Future of Eye Care
March 30, 2015: 01:11 PM ET
IRVINE, Calif., March 30, 2015 /PRNewswire/ -- EP Global Communications, Inc. (OTC-PINK: EPGL) In a new material development to shareholders, EPGL has opened negotiations with CooperVision, Inc. at $1.1 billion for the exclusive Option to License their new ophthalmic technologies. As previously disclosed publicly, CooperVision, Inc. and EP Global Communications, Inc. have co-developed new contact lens technologies, which has led to several new patent filings. It is estimated by some industry experts that just one of these newly developed technologies could add $5 billion annually to contact lens sales worldwide.
CooperVision, Inc., who is represented by Tom Counts of Paul Hastings, LLP in San Francisco, has requested that EPGL immediately grant the exclusive Option to License the technologies several months earlier than EPGL had expected. Because of this new development and the value of EPGL's work, EPGL has opened negotiations at approximately $1.1 billion for the exclusive Option to License on all of the technologies at stake.
"We believe Mr. Counts is a reputable person we can work with via a proposed intermediary. CooperVision, Inc. has the potential opportunity with these new technologies, to dominate a growing new space in contact lens technology, a new market segment which companies such as Google, Novartis and J&J are publicly vying for. We know that those companies would be keenly interested in having this technology if they could," said Michael Hayes, President of EPGL. "The future of vision care is augmentation and electronic contact lenses, in the opinion of many experts. A revolution not unlike that of the smart phone is coming. A lot is at stake here." EPGL management believes an amicable deal can be reached between the companies in the near future.
In other developments, EPGL and AT&T continue work on several newly identified Intellectual Properties. The two companies signed a Development Agreement in December, 2014 and are now exploring projects that may result from the jointly conceived technologies. "These technologies are very timely in the wearable area and we believe there is a very large untapped market for them. We are very excited to be working with AT&T on cutting edge technologies," said Hayes.
EPGL will keep the investment community informed as these and other developments progress going forward.
About EP Global Communications, Inc.
EP Global Communications, Inc. is an advanced technology research and development company for both medical devices and consumer electronics devices specializing in microelectronic mechanical systems (MEMS).
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.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/coopervision-inc-seeks-intermediary-as-ep-global-communications-inc-opens-negotiations-at-11b-300057706.html
SOURCE EP Global Communications, Inc
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