The old EPGL was caught up in the liquidation of the AJW Funds, whom they carried debt with. The terms of the debt gave control of the assets to AJW in case of default. The resolution of that debt owed to AJW is the new co. EPGL Med.
PwC arranged the restructure with SPOC med, which held the patent for the MPDD and the AJW liquidation. SPOC med had an agreement with the old EPGL to bring MPDD to market, but the old EPGL failed in it's business to repay the debt to AJW funds. PwC let the old EPGL loose on it's own, free of any of the AJW debt in exchange for the SPOC rights and formed EPGL med. They have funded the co. since it was formed until the MPDD comes to market.
So, EPGL med was formed due to the liquidation of the AJW funds, it was not a start up.
At least that's the what I understand it as and believe it to be true.
Other longs may correct me if wrong.
