NEW YORK, Sept. 27, 2011 /PRNewswire/ -- Pegasus Tel, Inc. (PTEL: OTCBB), a company specializing in the sales and marketing of social media, video technology, and on-line streaming video platforms, announced today a 4% forward stock split of the Company's common shares. The record date for the forward split will be tomorrow September 28, 2011 (Official Record Date) which means all PTEL common stock shareholders of record at open of business that date will receive 4% additional shares in Pegasus Tel. The appropriate paperwork for the forward split was filed online with FINRA on September 26, 2011. This corporate action is subject to final FINRA approval.
"This stock split is another step forward in our evolution as a company and credible enterprise," stated Pegasus CEO Anthony DiBiase. "The deadline for the forward stock split is close of business today September 27, 2011 because we plan on moving rapidly with this corporate action towards improved liquidity and value of the stock for all our shareholders."
Pegasus Tel, Inc., corporate headquarters of MusicMatrix.com, recently announced a dramatic re-launch of their premiere music web site featuring new design features and content for the social networking and interactive platform. MusicMatrix.com provides the ultimate destination for artists, directors, producers, video editors and music fans worldwide to upload, direct, edit and showcase music videos. The updated site will promote free membership options and simplify the sign-up process. Free members will now have access to the site's user-friendly editor and ability to enter music video contests.
ABOUT PEGASUS TEL, INC. (PTEL:OTCBB)
Pegasus Tel, Inc. is a global leader in web based technology solutions and corporate headquarters of MusicMatrix.com. The primary goal of the Company's projects is focusing on constant innovation in emerging technology areas. We believe that our corporate partners will get only the best when they work with us. PTEL web based projects engage users with the core features of everyday life through innovative video streaming, web-based and mobile applications. We market and refine products from emerging technologies like mobile and social media, which enable our users to stay in 'constant connection' with their users through relevant and unique online marketing initiatives. Our solutions allow customers, employees, constituents, and shareholders to engage, communicate, connect and grow with others that share similar interests. Whether you are using a smartphone, a computer, or a tablet, PTEL's technology and platforms provide you with the optimal experience that you are looking for in an online platform. For more information on Pegasus Tel, please visit www.ptelcorp.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 under reliance on such statements. The forward-looking statements in this release are made as of the date hereof and Pegasus Tel, Inc. under take no obligation to update such statements.
SOURCE Pegasus Tel, Inc.