Encounter Technologies (ENTI) Announces Today is Final Day of Eligibility for Pegasus Tel (PTEL) Dividend

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
[email protected]

SOURCE Encounter Technologies, Inc.

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED