Encounter Technologies (ENTI) Files to Move From Pink Sheets to OTC Bulletin Board (OTCBB)
December 09 2010 - 7:40AM
Marketwired
Encounter Technologies, Inc. (PINKSHEETS: ENTI), a company that
specializes in social media, video technology and online
entertainment web solutions, announced today that it has signed a
letter of intent with Ambrose & Keith Fund, LLC for a
$20,000,000 line of credit. The funding is contingent upon the
Company obtaining a listing on the Over-the-Counter Bulletin Board
(OTCBB) or a comparable exchange for the Company's stock. To that
end, the Company plans to file a registration statement on Form S-1
to register shares, begin reporting to the Securities and Exchange
Commission (SEC), and file the appropriate documents to obtain a
listing on the OTCBB.
"The move to the OTC Bulletin Board is an important milestone
for Encounter Technologies," stated CEO Anthony DiBiase. "This
changes the landscape for our current and potential shareholders
and reflects our commitment to grow the company and enhance
shareholder value. As we showcase our technology with the recent
launch of MusicMatrix.com and expand that technology to additional
markets, this listing upgrade will increase financing options and
transparency in the investment community. This move also positions
us one step away from my ultimate objective of having ENTI listed
on the NASDAQ."
Once the registration is effective, it is anticipated that
Encounter Technologies will receive final approval to commence
trading on the OTC Bulletin Board. Issuers of all securities quoted
on the OTCBB are subject to periodic reporting of financial
information to the SEC. ENTI will be required to provide quarterly
and annual financial information and remain current in its filings
with the SEC.
The OTC Bulletin Board provides access to more than 3,300
securities and includes more than 230 participating Market Makers.
As a regulated quotation service, it displays real-time quotes,
last-sale prices, and volume information in over-the-counter (OTC)
equity securities. OTCBB securities include national, regional and
foreign equity issues, warrants, units, American Depositary
Receipts (ADRs) and Direct Participation Programs (DPPs).
About Encounter Technologies (PINKSHEETS:
ENTI) Encounter Technologies, Inc. provides end-to-end technology
and online marketing services, including design, build, hosting and
online marketing support. We specialize in social media, video
technology and online entertainment web solutions. Encounter
Technologies, Inc. utilizes pre-built applications to provide the
platforms in which to base solutions for businesses looking to
utilize video technology to increase online collaboration and
interaction. Our goal is to provide our 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.
About Music Matrix (www.musicmatrix.com) MusicMatrix
is the hottest rising new star in the online video streaming music
industry and specializes in providing standard and high definition
streaming music videos over the internet. Users have the ability to
upload and view streaming music video content and also earn revenue
from promoting your favorite artists' videos. MusicMatrix.com is
also a full fledged social network which allows users to connect
with friends and family from all over the world.
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
Encounter Technologies, Inc. under take no obligation to update
such statements.
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Sheri Cook Marketing Representative IR CONTACT: Gerrard
Hollister Investor Relations IR@GerrardHollister.com
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