NEW YORK, April 25, 2011 /PRNewswire/ --
Encounter Technologies, Inc. (ENTI.PK), a Company
specializing in social media, video technology and on-line
streaming solutions, is pleased to announce that this Friday, April 29th is the last day to purchase
ENTI stock to be eligible for the forward stock split.
Shareholders of record at the close of business on Friday will
benefit from the 1.033 for 1 forward split.
"As I previously stated, this forward split is another step
forward in our evolution as a Company and credible enterprise,"
stated Encounter Technologies CEO Anthony DiBiase. "As a result of this
forward split, all ENTI shareholders will increase their
stock holdings on the record date by 3.3 %. It is also part of the
plan to accommodate the pending one-for-one dividend from
Pegasus Tel, Inc. (PTEL.BB)."
The payment process for the forward split is similar to past
dividends that were issued. If the shareholder's stock is with a
broker, that broker will submit the paperwork for the shareholder
to the transfer agent to receive their additional shares in their
trading account. Shareholders who do not have their stock with a
broker will need to return their old certificates to the transfer
agent to receive their additional shares. Since the Company was
required to get a new CUSIP number for the forward stock split,
investors should also be aware that the time to process these
additional shares is slightly longer as compared to the payment of
a dividend. Questions about the process should be directed
to:
Mikki McGehee, Client
Services
Pacific Stock Transfer Company
4045 South Spencer Street, Suite 403
Las Vegas, NV 89119
Email: mikki@pacificstocktransfer.com
Telephone: 702-361-3033 x 109
Fax: 702-433-1979
As the new CEO for Pegasus Tel, Inc., DiBiase
declared a payment of Pegasus shares to ENTI in
exchange for the MusicMatrix technology, which ENTI
will distribute on a one-for-one basis to ENTI Shareholders.
On a dividend payable date soon to be announced, ENTI will
provide all current ENTI shareholders with one share of
Pegasus for each share they hold in Encounter
Technologies. "ENTI Shareholders have double the value
with the Pegasus shares, and this forward stock split
increases shares they will receive in Pegasus, a fully
reporting company trading on the Bulletin Board," adds
DiBiase.
"With my pending acquisition of PTEL and transfer of the
MusicMatrix technology, I am excited about the potential of
Encounter to now function and grow as the "incubator" for
technologies that we develop and market. This has always been the
defined long term core capability and objective for ENTI.
The forward split and agreement with Pegasus will also
accelerate both companies achieving their long term goals. We are
very optimistic about all our future business in this evolving
corporate enterprise," concludes DiBiase.
ABOUT ENCOUNTER TECHNOLOGIES, INC. (PINKSHEETS: ENTI)
Encounter Technologies, Inc. specializes in social media,
video technology and on-line entertainment web solutions. The
Company utilizes pre-built applications to provide platforms for
businesses interested in utilizing video technology to increase
online collaboration and interaction. The goal is to provide
clients with the best methods to increase user value and achieve
desired business results. Simply put, Encounter Technologies,
Inc. transforms ideas into revenues. For more information about
Encounter Technologies, Inc. visit
www.encountertech.com.
This press release contains "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended and such forward-looking statements are made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. You are cautioned that such statements are
subject to a multitude of risks and uncertainties that could cause
future circumstances, events or results to differ materially from
those projected in the forward-looking statements as a result of
various factors and other risks. You should consider these factors
in evaluating the forward-looking statements included herein, and
not place undue reliance on such statements. The forward-looking
statements in this release are made as of the date hereof and
Encounter Technologies, Inc. under take no obligation to update
such statements.
Industry Keyword:
Subject Code:
Media and Entertainment: Information Services
Professional Services: Advertising, PR and Marketing
Media and Entertainment: Television
Media and Entertainment: Music and Radio
SOURCE Encounter Technologies, Inc.