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Really since when do companies disclose every amount of money they receive in deals? They don't. They got paid!!! That is seriously a huge thing.
He's ticked. Can you blame him. He has shareholders losing value for no real reason. He had a major win for his company and a few investors tank the stock. I can totally understand his frustration with doing amazing work and then having a few sellers drop the stock price 20% for no reason at all.
AT&T and Coopervision still. They didn't get rid of Coopervision, they just removed themselves and their tech from Coopervisions grasp. Cooper vision is still using the tech and will pay royalties on it.
Here you go...Yesterday's PR
IRVINE, Calif., Jan. 7, 2016 /PRNewswire/ -- EP Global Communications, Inc. (Public OTC: EPGL)
EP Global Communications, Inc. (EPGL) executed a Settlement Agreement with CooperVision Inc. (CooperVision) on December 31, 2015.
CooperVision is one of the world's leading manufacturers of soft contact lenses. EP Global Communications, Inc. is a new, high technology research and design company which specializes is microelectronic mechanical systems and IoT connectivity for such technologies.
In 2014, the two Companies worked together to jointly develop advanced contact lens technology concepts. On December 31, 2015 the parties executed a Settlement Agreement setting forth the parties' respective rights in the jointly filed patent applications and allowing each party to separately and independently pursue these contact lens concepts. The settlement also addresses the ongoing prosecution of several related joint patent applications.
CooperVision is to pay EPGL an undisclosed cash component and will retain certain rights to use the technologies disclosed in the jointly filed patent applications to develop and commercialize contact lenses and relinquish all rights to other patent applications filed by EPGL. In exchange, EPGL gains sole ownership and control of the jointly filed patent applications and unlimited worldwide marketing right to license the technologies disclosed in the jointly filed patent applications to all other manufacturers and partners worldwide. EPGL will earn 100% of all future revenues from such potential deals going forward.
"We are happy and believe the Agreement strikes a good balance for EPGL and its contribution. The technologies will now have an unlimited number of potential licensees worldwide, so that the most people are benefited. With this Agreement, EPGL has gone from seeing its technologies under a single company's umbrella to now a potential unlimited number. That is very exciting for EPGL's future," said Michael Hayes, President of EPGL.
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).
Original Development Agreement
https://www.otciq.com/otciq/ajax/showFinancialReportById.pdf?id=125904
1. CooperVision has secured the exclusive right to co-develop EPGL advanced technologies of its choosing, with ownership of resulting intellectual property to be allocated in accordance with inventorships. EPGL has agreed to work exclusively with CooperVision in the ophthalmic and medical field to develop selected advanced technologies, granting CooperVision exclusive options to license or outright purchase EPGL’s rights to such technologies. Under the Agreement, CooperVision will fund the co-development, prototyping, manufacturing and marketing of such technologies selected by CooperVision and negotiated project by project. This Development Agreement is on-going.
Yes according to the PR.
1. Because it allowed them to develop their tech for free.
2. Because Cooper was trying to keep all EPGL tech for a small offer of funds.
3. They did. EPGL will earn revenue off anything cooper sales and from the lump sum they paid them.
Yes. The conference call clarified.
That is incorrect. Cooper can use the tech but EPGL still receives royalties from sales of the product.
Clarification mostly. No cheerleading. Just complete confidence.
Great call!!! Clarified a lot. Smooth move by EPGL to get 100% ownership of technology. Will pay huge dividends for shareholders in the long run.
Ya for sure. I think the market cap would be higher now because they own their tech 100%. They aren't sharing revenues. That is how I am reading things.
Has to or Coopervision wouldn't be paying a lump sum and licensing the tech from EPGL. Right?
Hope your right. I think it is good news. I am just baffled because I just can't imagine a company like Cooper giving up the rights to this technology. That is very curious.
That is good news then if we can skip the development agreements.
A phone call and about 2-3 more years of development agreements. Sounds good.
I would like more cash up front, but a large royalty contract is good.
Uh....much different than I thought it was going to be.
Define "good?" What do you consider a successful deal? I am just curious what is anticipated among us shareholders?
Hey tomato....toematoe....they are all the same. Haha.
Wow! I approve of this acquisition just based on the company name. Haha. Go EPGL.
This is huge and as you said a milestone. So proud to be an EPGL shareholder and of Michael Hayes, and David Markus for taking EPGL from the depths of despair to a player in a high tech market. Incredible....really just incredible.
Maybe even quadruple % increases. Who knows. Go EPGL.
No they can't, but if they felt they were off base they would clarify and explain it will take longer than they stated in their tweet. Michael Hayes is great and is very open with shareholders, so if you are right then I am sure we will hear from EPGL.
I agree. I know it will come.
Well those words mean something. If they are not important then EPGL shouldn't say this week or next week. Use forthcoming or something more general. The reason people expect this week is because that is what they tweeted.
Yep just fun to see that we are almost to the point where we have a signed deal. Exciting!
Excited to see what EPGL has put together. Such a fun time to be an investor. It is so rare to be a part of something like this at the ground floor.
But...Ian Stokoe does....or PWC....which is it?
"as a major shareholder..."
Yep I agree completely. Hayes deserves our respect and gratitude for all he has done to keep our investments alive and providing us with an opportunity to see our investments materialize into something incredible. It has been an amazing process to watch and behold. Could be one of the greatest turnarounds of all time and to think we were all a part of it.
Yes that is very correct. Two very different companies. Michael Hayes has done an incredible job. I have always been impressed by what he has accomplished. pretty incredible.
Yep I agree. I have been here since 2009. There are many that haven't and those that are just jumping in, so it is important to realize that if an 8k doesn't come this week or announcement directly from Cooper doesn't come this week things are still good and EPGL is still a great investment.
I think that is the point we are all trying to make. It takes time for deals to be finalized and completed. Once that time comes it will be a point where the stock begins gaining more broad awareness and buying at these levels will be impossible.
Right. Until that happens though EPGL will be seen the same by investors and awareness will be the same. That is all I am saying. Need Coopervision releasing info for it to have a huge market impact for EPGL. Like I have said this isn't going to be immediate. It will take longer than this week.
True and that would be fine.
Interesting...makes it sound like EPGL is making the announcement and not Coopervision. I would rather see a joint PR by Coopervision & EPGL or an 8K filing by Coopervision. If we don't get confirmation from Coopervision we will be no better off than we have been.
That would be ideal!! Problem for COO is cashflow and the ability to buy out EPGL. They would have to buyout EPGL in stock. That would be a great move by Coopervision.
You could very well be right if there is no upfront cash in the deal. Revenues from royalties could be years away. I don't believe EPGL's pps will skyrocket immediately. I think it will gradually start ascending now.
We are still probably 2 years from a product actually hitting the market. We still have awhile until things explode to a higher pps.
This is fantastic news and the needed first step to see revenues but those revenues are most likely years away.
Exactly. Imagine EPGL patents that are licensed by thousands of companies large and small for devices using iOT. Lots to dream about.
Amazing. This is just the beginning. This deal sets the stage for the next series of agreements, deals, and pps levels. This is what we have been waiting for.
So awesome!!!!! I love the part that says, "with Coopervision Authorization!". Oh ya!!! Happy New Year!!!