Form 8-K for EPICUS COMMUNICATIONS GROUP INC
19-Jun-2007
Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement.
To continue increasing the operating cash available to grow the company's customer base; on June 15, 2007 the Board of Directors unanimously agreed amend the Convertible Debenture Agreement dated December 7, 2005 between Epicus and a group of funds managed by The N.I.R Group as follows: the Company agrees to sell an additional $260,000 in convertible debentures to its current primary lender, a group of funds managed by "The NIR Group", at a variable price of $.25 per share or a discount to the market of 65% whichever is the lesser." The original entire above mentioned convertible debenture agreement was included in the company's form 8K filed on December 14, 2005, and is included herein by reference.
In addition to operating expenses, these funds will be used to increase the public's awareness of Epicus' new wholly owned company "ECG on the Net, LLC". ECG on the Net will be the Epicus VOIP services company, concentrating on delivering low cost VOIP telephone service to consumers nationwide.
