This excerpt taken from the EPCT 8-K filed Jun 23, 2008.
(b) Due Authority. The execution and delivery by the Company of this Warrant and the performance of all obligations of the Company hereunder, including the issuance to the Warrantholder of the right to acquire the shares of Common Stock, have been duly authorized by all necessary corporate action on the part of the Company, including any approval of the stockholders of the Company required under its Charter or Bylaws, or the laws of the state of Delaware. This Warrant: (1) is not inconsistent with the Companys Charter or Bylaws; (2) does not contravene any law or governmental rule, regulation or order applicable to it; and (3) does not and will not contravene any provision of, or constitute a default under, any indenture, mortgage, contract or other instrument to which it is a party or by which it is bound. This Warrant constitutes a legal, valid and binding agreement of the Company, enforceable against it in accordance with its terms, except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditorsrights generally, (ii) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies and by general equitable principles.