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EPSC registration revoked:
https://www.sec.gov/litigation/opinions/2019/34-86392.pdf
Glad to see something here. Still amazed they have not started up a new shell here at the very least. IMO.
The only thing positive I can say about the stock right now is the share structure was/is very tiny for this price.
Well, whatever is left of this company it's not very much of anything. Though I find no evidence of epic having gone bankrupt every other legal pothole surrounds the company and the members of the board appear to be absent completely. They do not wish to be contacted in any way regarding this matter. So in my mind a play like this is a true wild card.
One of the former CEOs who knew how to run this company could get put back in a leadership role and they could put this all back in motion in a good way, but despite this there is a ton of evidence that this company was very very poorly managed as soon as Davidson took control who I believe was the last CEO. So unless they learn from their mistakes and hire competent management this is dead in the water or it may be flipped into another company at some point with epic being a shell oh, lots of people buy shells to start new companies.
Spock.....shells with sauce, boy howdy.
the way this thing is setting up there has to be a PR in the wings that will light the fuse
Over the Christmas break I poked around a little bit 2 learn a little bit more about the Riggs family who started epic stores and who also ran at least at one point a successful rather cutting edge concrete laying company. The bottom line here is that a lot of people just don't like the way they do things they're not nice. they think nothing of leaving unpaid invoices for half a year to a year, they stiff people for paychecks, if they don't want to call you back even though you need a phone call you're not going to get a call back. You get the picture.
I also have to admit that I have some difficulty try to understand why a company that was I think formed in the early 90s to do some really innovative things with concrete, had the CEOs peel off one by one to go into the used clothing business. Is certainly not an obvious fit and in a number of instances the stores open gangbusters and within a very short period Of time close gangbusters. So what's up? What do these guys want to do? Are they so full of themselves that they just think that they'll just come up with something and they'll figure out ways to crank cash out of it for themselves the rest of the world be damned? Maybe to a certain degree yes but it's not like a line of people is going to be in place to just do business with them.
The administrative judge has next week to make a decision about what to do and the first I couldn't understand why he was taking so long but I finally figured it out. If the judge doesn't get any indication from the Rigg's that they want to do anything then his decision is made up already, it's done. All he has to do is have a secretary type up a little nasty gram. Let's see. I don't feel particularly optimistic I'll tell you that.
Spock.... As a Vulcan I don't really know that I would know optimism if it hit me between the eyes anyway.
the management could cooperate a little by building more buzz!
Has 15....not "had" 15.
Admin Judge had only 15 days left to make a decision about whether or not to suspend registrant for up to 12 months or to revoke. Could get that ruling any day now
Let's see.
Spock.....this company was rocking in 2016 when a new CEO took the helm and stopped filing w sec as required. Why do you Humans do this to yourselves?
No problem.
Unfortunately, I have a lot of experience with asking my broker to make courtesy trades to clear out worthless junk :(
Thank you. yours is the clearest and most complete response I have gotten. It makes sense and applies to the context
Spock
We do hope to hear great news soon. Still holding on to this!
Most trades only report prices out to 4 digits, and most (retail) trading platforms only accept limit prices out to 4 digits. Therefore a price showing 5 or sometimes 6 digits is interpreted as not originating through a retail trader’s platform.
This is why I think this was a “courtesy trade” where someone asked their broker to just get them out somehow so they could claim the tax loss.
May I ask why you find the 5-digit aspect noteworthy?
Spock ... Inquiring minds, you know?
Five digits on that one.
Unfortunately, that was likely a “get me out at any price so I can take the tax loss” order. But, it did go through.
Nice to see a MM trade today. This is interesting. Prior to this, my only experience in the greys was a little dicey. Now I am seeing some opportunities to profit and this may be one of them. Since we can't sell them now anyways, let's see what transpires here.
maybe what is behind the curtains IS a privy...
Based on what I was learning just before I got into epsc, it sure sounded like a merger was in progress or about to be. Given that, it honestly doesn't surprise me as a matter of human nature that rather than bring epsc current which might have cost a pretty penny somebody deemed it better off to just leave it alone don't spend the money. Just wait for the merger and everything will be taken care of then. I think that's what's happened. Do I have any evidence no. it's just what I could see somebody doing given the situation.
Spock....what do you do when you can't find the keys to a shuttle? You can't jump start one.
It would be nice if someone could be privy to what is going on behind the curtains. (if there's any)
Any sign of life would be welcome.
Waiting for highly anticipated news on at least one of the many milestones at the door step, that will surely propel this company into a different playing ground!
I'm real anxious to hear more about their business plan. Answers to all of questions could lead to much higher pps levels.
We can stick a fork in it...
https://www.sec.gov/investor/alerts/tradingsuspensions.pdf
No OTC stock that has been suspended for delinquency and for which an Order Instituting Proceeding (OIP) has been started has avoided revocation. The only thing EPSC management can really do is accept the revocation and not drag it out and then start over and try to re-register the stock. But the frequency with which that occurs in the OTC is about 1 in 1000 revoked stocks. And the VERY few that have done it (less than you can count on one hand) it took years..
The grey market which we are in is volatile, chaotic and liquidity can disappear quickly. Trades may or may not show up right away. Trades will be matched trades only with no bid/ask and no best execution. They can sometimes take hours...or even until the next day. EPSC will trade on the greys until it is revoked within the next 2-3 months. At that point the ticker will disappear and those still holding will have stock in a private company.
Sorry for the gloom and doom but this is the truth. This is the second time this has happened to me...never again will I trade OTC without being Pink Current.
May I ask you to elaborate on your post? I am very curious to know where the many new investors are learning of epsc, why they seem to be buying none of the stock at present, and what you know that convinces you that the very very low prices of recent times will be replaced by significantly higher ones.
A big request from me, yes...but I regard your post as both unexpected and unlikely. I love it when a smart, well informed person can change my so-called mind.
Spock....maybe I should send a nice bunch of flowers to the board.
Hold your shares and you will be just fine, in my opinion. No matter what price you bought in at, pretty soon it should not matter a whole lot. There are a ton of new investors just learning about this stock and the money will flow like a river eventually.
A month ago I'd have had no problem trading lots of 10k-50k with not a second glance. Now that no one wants it, I cant get any.
Why?
Spock......I repeat myself when under stress I repeat myself when under stress I repeat myself when under stress I repeat.
Orders for grey market stocks do not have to be "marketed" to other broker-dealers. Your broker can keep it in house (most do). If they happen to have an in-house seller you might get a fill, but you could also see a trade go off lower than your order (presumably at another broker).
What I have found out ad of 10/27/18 is that there are at least five stores still operating, two in the My area. By remaining gray market disappears they have no interest in remaining SEC compliant. This keeps the share price extremely low ad they move towards a quiet merger. This may be a merger into a private business.
Very difficult to purchase any shares. I have had orders outstanding for many days only to see orders being filled at prices lower than my offers, which find both frustrating and hard to understand. Any time I pose grey market questions to brokers I get glassy- eyed and unreliable sounds back in return.
SPOCK.....I love Windex.
So are there any updates? or should I say anytime soon?
Hopefully the management can find a good strategy regarding the PR distribution.
Dear Brian Davidson, CEO of Epic Stores Corp.,
Would you please tell us, the share holders of EPSC, what you plan on doing with the EPSC shell? Do you plan on doing nothing? Do you plan on using it for a RM with Riggs Company. Do you plan on selling it to another private company?
If you plan to do nothing, why would you waste a shell that is worth money considering its favorable share structure? If it is one of the other options please let us know as well. Time is ticking away here....
Please be responsible and let your shareholders know.
Thank you.
nope
it's in the grey m now
Something's about to bloom! holding strong. let's bounce line!
Yes, right, thank you.
That would be tomorrow morning, not noon today. Sorry.
Spock.....the clock.
Okay so 12 noon EDT today we start trading in the grays.
The question now is do we hear anything at all from Riggs management.
I think it’s still asleep; wait it doesn’t even have a pulse.
LOL, so glad I sold before this happened.
"11:59 p.m. EDT on October 2, 2018"
Trading resumes again this week, in the grey market. Will Riggs's Brian Davidson, the CEO, respond to the SEC or not? Why would they not want to do something with a perfectly good shell, either use it for a RM with Riggs Co. or sell it?
lol another great call. completely wiped out shareholders here listening to you. i told you that you didn't know what you were talking about. told you.
Say what? Say that again. It got suspended.
I’m so glad I sold this before the suspension and didn’t listen to the pumpers.
I called Riggs Co. on Friday and left a voice mail for Brian Davidson the CEO. Have not heard anything back, surprise surprise, but just wanted to get an understanding of what he plans to do here with EPSC. It seems to me and I am sure all of us to be foolish to just do nothing with EPSC and let it waste away...
Has anyone else tried to get a hold of Riggs management and heard anything?
By the way, if anyone from the company reads this - please know you are leaving a pile of money on the table. A R/M shell with this SS is potentially worth millions of dollars. If this goes grey - Riggs starts from scratch and becomes just another vanilla construction company. Not a bright move IMO.
Even though it is crappy news - thanks for posting.
That is it in a nutshell. I find it hard to believe Riggs would let this valuable shell expire (108 million SS really?) just because they can't do the paperwork. Well, here wg then - either boom or bust. The grey market seems to be sucking up companies like crazy lately.
10 days...
----------------
IT IS FURTHER ORDERED that Respondents shall file an Answer to the
allegations contained in this Order within ten (10) days after service of this Order, as
provided by Rule 220(b) of the Commission’s Rules of Practice, 17 C.F.R. § 201.220(b).
-------------
This is the second penny stock with delinquent filings reported by the SEC I have been involved with. The first one did not go well as the company had no money. Truly hope this turns out to be different as Riggs Company has a lot of money and believe they are smart people.
The good news for us is we should know Rigg's Co. intentions for the company within 10 days. They either respond to the SEC or they don't. If they do respond then we know what their plan is for the EPSC shell. If they don't respond then we know we have nothing here and will be a complete write off...
Someone correct me if I am wrong but pretty sure no matter what in 10 days we are heading for the "Grey" market. It does happen but not many come out of that alive...
I am preparing for the worst and hoping for the best...
Well....crap. THat's a fine way to start the morning.
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