SOURCE EP Global Communications, Inc. An Update to On-Going Negotiations Between EPGL and CooperVision, Inc.
IRVINE, Calif., Oct. 12, 2015 /PRNewswire/ -- EP Global Communications
, Inc. (Public OTC: EPGL) announces today as an update to our shareholders, that CooperVision, Inc. (CVI) has requested that EPGL make a "bonafide" counter settlement offer to CVI for royalties and cash settlement.
In a counter offer being made today to CVI, good through November 6, 2015, EPGL has agreed to accept compensation for its nearly two years of exclusive work and Intellectual Properties
delivered to CVI in the form of perpetual royalties for commercialization of the technologies going forward.
Details must be confidential at this time. However EPGL is willing to publicly say that it can agree to a fairly tiered approach to royalty payments which will only give CVI discounted royalty incentives after a minimum benchmark of $1.1 billion in royalties paid to EPGL is reached going forward for any EPGL technologies commercialized by CVI congruent with an outstanding demand to CVI in 2015. In addition, EPGL will require a cash settlement for time and know-how delivered from April 2014 to the present date.
In 2013, EPGL signed its first Development Agreement with CVI for its "Energy Harvesting" contact lens
technology. In April of 2014, a follow up "Second Amended Development Agreement" was executed, giving CVI exclusive first rights to EPGL patented technologies existing at the time as announced in 2014 and subsequent jointly developed technologies. Since that time, EPGL has developed several new ophthalmic technologies in cooperation with CVI, resulting in several patents pending presently, some being jointly held by the two companies.
"We are not going to let our work and Intellectual Properties be had cheaply, especially when industry
experts agree that augmented vision and electronic vision correction will be a massive new revenue space in the coming years. We know that we have accomplished important work in the field with CooperVision and we are going to get paid fairly," said Michael Hayes
, President of EPGL. "Today marks the first time EPGL has agreed to put forth a counter offer to since we refused CVI's first offers on May 18, 2015, and I believe it signals that we are drawing closer to finally making a deal. That is the goal," Hayes continued. "Our only interest is in building shareholder equity in EPGL by developing and owning only the best new technologies
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).
EPGL: Coming UP Soon
20.Next EPGL joint patents being filed in November 2015.
19. Oct 8,2015 The patents that may change the world in AR and vision are being filed now. EPGL shareholders are part of a revolution.
18.Sept 23, 2015 Today CooperVision Inc. will file the next joint patent held with EPGL
17.Sept 8, 2015 EPGL will be entitled to license fees and royalties from ALL COMPANIES that use EPGL prior art within its products.
16. Aug 21,205 Early Correspondence this week from USPTO to EPGL suggests we have 3 potential patents for our first smart case not just one. EPGL views this as a positive sign from USPTO as they see 3 unique claims in this one application. EPGL has additional PCT applications pending.
15.Aug 20, 2015 EPGL and AT&T are now in the drafting phase of several more Provisional patents
14.July 8, 2015 EPGL filed an important new non-provisional patent with USPTO as well as International PCT registration
13.June 5, 2015 EPGL has filed patent on novel new display technology directly into the retina of the eye
12. May 8. 2015 CooperVision has jointly invented multiple patents in collaboration with EPGL as previously disclosed.
11.April 24, 2015 AT&T has now approved several joint patents to be drafted by the two companies.
10.Feb 27, 2015 EPGL currently owns multiple Intellectual Properties with one or more major US corporations.
9.Nov 6, 2014 EPGL files Significant new IP during this week.
8.Sept 12, 2013 EPGL Medical Files Patent application for Device to Combat Hearing Loss. The New Device Uses Advanced MEMS Technology to Stimulate Nerve Cells of the inner ear
7.July 11,2013 EPGL filed another patent application for advanced Epidural technology
6.July 1, 2013 EPGL Team has filed a patent today for ultra-advanced contact lense technology. The technology will compliment the device for treatment of Macular Degeneration and Retinitis Pigmentosa which the Company has invented.
5.June 3,2013 EPGL Team files two more patents for Intellectual Property in the areas of Vision Loss and Hearing Loss
4. May 14,2014 EPGL files more patent applications for "Topspin" device platform
3. May 8, 2013 EPGL filed another patent application for Topspin technology.
2. April 11, 2013 EPGL filed more patent applications involving “Topspin"
1. April 4.2013 2 more patent applications where filed for EPGL This will be the first step of many steps to our ultimate goal of being listed on NASDAQ or the NYSE. http://www.otcmarkets.com/financialReportViewer?symbol=EPGL&id=127312