Encounter Technologies, Inc. (ENTI) Announces Strategic Discussions With Pegasus Tel, Inc. (PTEL)
04 Aprile 2011 - 1:30PM
Marketwired
Encounter Technologies, Inc. (PINKSHEETS:
ENTI), specializing in social media, video technology and on-line
streaming solutions, announced today corporate discussions with
Pegasus Tel, Inc. As a result of these
discussions, the Board of Directors of
Pegasus
Tel has appointed
Encounter Technologies
Director Anthony DiBiase as their new Chief Executive Officer and
filed an 8K Form on Thursday, March 31, 2011 with the Securities
and Exchange Commission (SEC) disclosing that event.
As part of the proposed plan, Encounter
Technologies' Music Matrix web site will
be acquired by Pegasus Tel, in exchange for
preferred shares of Pegasus. Those shares
from Pegasus will be utilized by Encounter to fund a shareholder dividend to all
Encounter shareholders. The proposed dividend
plan means all current shareholders will receive one share of
Pegasus for each share they hold in
Encounter Technologies. "The bottom line is
we expect this deal to be finalized within 45 days and our loyal
ENTI shareholders will have increased stock value with ownership in
two separate public companies," stated DiBiase.
"Bringing ENTI shareholders with me to Pegasus was the only way I would even consider this
plan," commented DiBiase. "My shareholders know it has always been
my mission to get to the Bulletin Board with our cutting edge
technologies. This opportunity with PTEL is
the most effective way to reach a higher level of funding and
credibility for our business."
Encounter Technologies, Inc. will move
forward with its development and marketing of technologies in the
lucrative Internet Yellow Pages (IYP) and SEO/SEM industries, along
with a re-launch of its previously successful FilmRookie.com social
web site. "ENTI will continue working towards a Bulletin Board
listing, and MusicMatrix.com as a Bulletin
Board business with Pegasus will thrive
immediately with access to a substantial credit line," concluded
DiBiase.
To coincide with this announcement, Encounter
Technologies CEO DiBiase will release a Podcast on Tuesday,
April 5 at 10:00am EDT to address this news and filing in greater
detail. To access the Podcast, please visit www.encountertech.com.
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.
INVESTOR RELATIONS CONTACT: Encounter Technologies, Inc.
Sheri Cook Director of Marketing info@encountertech.com Pegasus
Tel, Inc. info@ptelcorp.com
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