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Epic cancels preferred share redemption, applies for broker/dealer license

Epic Corp.'s board has canceled the forced redemption of its series A 5% convertible preferred stock and will instead provide quarterly dividends in cash or common stock to its preferred shareholders.

The company's board also authorized a voluntary exchange of one common share for one preferred share on or before Jan. 31, 2019. Shareholders can exchange 25,000 to 250,000 common shares.

Additionally, Epic is reinstating its listing with OTCMarkets OTCIQ to be designated as having "current information."

Epic also expects to launch the sale of the commodity representing an EPICcoin on Jan. 31, 2019. The company has incorporated unit EPIC Online Brokerage LLC and is applying for a broker/dealer license from FINRA. This unit will accept EPICcoin in its investor brokerage accounts.