NEW YORK, June 6, 2011 /PRNewswire/ -- Encounter
Technologies, Inc. (ENTI.PK), a Company specializing in
social media, video technology and on-line streaming solutions,
announces that today, Monday, June 6,
2011, is the last day for ENTI shares to be on
record and eligible for the one for one dividend with Pegasus
Tel, Inc. (PTEL:BB). On Monday, June 6,
2011 (Official Record Date), all common stock shareholders
of Encounter Technologies will be entitled to one share of
Pegasus Tel for each share of ENTI they own.
As part of an agreement with Pegasus Tel, Encounter
Technologies will be receiving preferred shares of
Pegasus that will convert into common shares.
Encounter will distribute these preferred shares to its
common shareholders sufficient to allow each shareholder of
Encounter, once converted to Pegasus common stock, to
have the same number of common shares of Pegasus as they
hold in Encounter. Pegasus Tel will acquire the
ENTI MusicMatrix web site in exchange for the preferred
shares of PTEL.
Anthony DiBiase, CEO of
Pegasus Tel, Inc. (PTEL:BB) and Encounter Technologies,
Inc. (ENTI:PK) declared a payment of PTEL
shares to ENTI in exchange for the MusicMatrix
technology, which ENTI will distribute on a one-for-one
basis to ENTI Shareholders. On the payable date of
June 20, 2011, Encounter
will provide all current ENTI
shareholders with one share of Pegasus for each
share they hold in Encounter Technologies. "After this
dividend, current ENTI Shareholders will increase their
investment value in two public companies with the
Pegasus shares," 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 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.
CONTACT:
Encounter Technologies, Inc.
Sheri Cook
Director of Marketing
press@encountertech.com
SOURCE Encounter Technologies, Inc.