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
Telephone: 702-361-3033 x 109
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.
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.