EP Global Communications Inc (OTCMKTS:EPGL) Is Today's OTC Focus

EP Global Communications Inc (OTCMKTS:EPGL) is a name that's been around for quite a while. The excitement surrounding the company concerns its smart contact lens program. A lot of the big boys like Google and Samsung have been making a play on this technology. Last year, EPGL announced a challenge to Google to confirm it is up to speed with EPGL in the smart contact lens revolution. At the time, President Michael Hayes said:

"Google is an incredible company with incredibly talented engineers and executives. We have nothing but respect for them, but we believe our little 6 cent per share company on the OTC market is likely beating a $460 billion giant in this coming revolution. We are also very talented. We're throwing down this public challenge to see if they have truly accomplished what we have. They splashed the news a year ago now with no updates. We're doing it to show the investment community that EPGL is extremely undervalued in our opinion."

We believe this was an effort by EPGL to get attention and an investment from Google or another Silicon Valley heavyweight. The company said they were beginning to entertain offers from various investment bankers and partners to help EPGL achieve the next level with the investment community, including higher market tiers. Later, EPGL issued a press release contradicting itself saying that it had been contacted by several investment firms and some of Silicon Valley's venture capital firms and now was not currently seeking venture capital.EPGL has several patents pending now in the smart contact lens arena, including energy harvesting technology, mass manufacturing of integrated electronics, autofocus and smart lens case technologies. EPGL has not yet publicly announced what it believes to be its most potentially valuable patents pending in the field. But perhaps most importantly, EPGL has invented solutions that will enable microelectronics to be placed into modern Silicone Hydrogel contact lenses for mass market production, without dramatically changing the current manufacturing process. This achievement is critical for the smart contact lens to truly be marketable to the masses with comfort and efficacy.In January, EPGL announced a settlement agreement with CooperVision. CooperVision agreed to pay EPGL an undisclosed cash component and retained certain rights to use the technologies disclosed in the jointly filed patent applications to develop and commercialize contact lenses and relinquished all rights to other patent applications filed by EPGL. In exchange, EPGL gained 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.EPGL has been quiet since this agreement was announced and issued only two new press releases since that time, both of which came this month. Unfortunately, these press releases carried a lot of fluff and not a lot of substance. EPGL said:

Since Announcing Settlement with CooperVision, Inc., at the beginning of 2016, in which EPGL gained full ownership of its pending patents, EPGL management has been receiving inquiries from major industry titans. The Company is now negotiating its first new relationships since that time while continuing to progress its pending patents.

EPGL is hoping to sign some deals, but so far has not. The company even issued a public notice that EPGL is now accelerating its program and bringing in new partners and investors to help develop its technology. EPGL will send a summary of its proprietary plan along with information about who has secured rights to its technology to any bonafide investor or partners who are interested in learning more. To receive the plan summary, those interested must request and execute an NDA available for download starting on April 28, 2016.Currently trading with a market cap of $124 million, EPGL has minimal revenues. However, the company does have over $14 million in cash on its balance sheet and total assets of $27 million with liabilities of just $565,000. Over the next few months, we will be watching EPGL closely. If the company does deliver, shares could turn into a microcap runner real quick. We will be updating Insider Financial as soon as we know more. For continuing coverage on EPGL, sign up for our free newsletter today and get our next hot stock pick!Disclosure: We have no position in EPGL and have not been compensated for this article.