EP Global Communications Inc fka EPGL

[flaflyersfan]

PWC's obligation is to the Creditors and Investors of the AJW Funds not EPGL;

PWC had its 6 month update a few weeks ago;

Joint Offical Liquidators (JOL's)
David A. K. Walker.Ian Stokoe.

Purpose
The JLs of the AJW Funds are continuing to receive a high level of investor enquiries and in an effort to reduce the time incurred by the JLs and their staff in responding to standard/ common enquiries they are providing this brief update on the below areas of interest to investors.

Pending redemption requests and distribution payments
As investors are aware, the AJW Funds do not hold sufficient cash to distribute funds to pre liquidation creditors or investors at this time. Further, given the concerns held by the JLs about the value of the asset portfolio and the issues discussed in the JLs previous reports regarding pursuing causes of action against service providers, it is likely to be some time before it becomes clear whether any distributions will be possible and, if they are, the timing of any payments.

At present the JLs are unable to make distributions to creditors or investors of the AJW Funds and cannot give an indication of when any such distributions, if they were to become available, would be made.

Monthly/ quarterly valuations & audited financial statements
The JLs understand that the last Net Asset Value (“NAV”) statement issued by the AJW Cayman Funds was for the period end 30 September 2010, the last Capital Accounts Statements (“CA”) issued for the AJW Onshore Funds were issued in late 2011 and the last audited financial statements issued for the AJW Funds were for the year end 31 December 2008.

The JLs are not producing NAV, CA statements or audited financial statements for the AJW Funds because the only realistic prospect of any return to creditors and investors is dependent upon the outcome of litigation where the amount and timing of recoveries is highly uncertain.

Changes in investor holdings
The JLs can advise that investor percentage holdings remain unchanged since the date of the JLs appointment as there have been no new subscriptions accepted and no distributions have been made. The only changes to investors holdings are those which have been transferred at the request of individual investors and formally approved by the JLs and, if required, by the Cayman Court.

K-1’s and tax returns
The JLs are currently working with their tax advisors in order to finalise and issue the tax returns and K-1’s for 2013 and they anticipate these will be issued by 30 June 2014.

The JLs issued 2012 K-1's electronically to investors on 30 August 2013 where they had current email addresses and sent K-1's by post for investors that they only had mailing addresses for. If you are an investor and you have not received your 2012 K-1, please email [e-mail] to request this.

Progress made on asset realisation/ litigation against service providers
Progress made on asset realisation and litigation against service providers has been set out in the JL's report dated 7 February 2014.

Should you have further queries which are not addressed above or in the JLs last report dated 7 February 2014 please contact Kadi Merren at [e-mail].


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http://ajw-group-liquidation.com/investorupdate.html

AJW/ PWC shares of EPGL are worth $30,000,000 at current market price. These shares are way past any required holding period. PWC will liquidate their EPGL stock. The EPGL PR was curious to suggest that PWC relinquish some of their stock.

Good luck.