Perhaps you could answer a question I've been asking on the board for 3 years now.
Whatever happened to Angler's?
ENCOUNTER ANNOUNCES THE ACQUISITION OF ANGLERS CONSTRUCTION, INC.
Jan 21, 2014
OTC Disclosure & News Service
Bergen, NY -
BERGEN, NEW YORK, January 21, 2014. The Board of Directors of Encounter Development Technologies Inc., a Colorado corporation (US.ENTI.PK) ("Encounter" or the "Company"), is pleased to announce the acquisition of Anglers Construction, Inc., a New York corporation ("Anglers").
About Anglers.
Anglers is a fully licensed and insured construction company that specializes in the professional repair and replacement of commercial and residential rooftops and in the installation of building sidings. Anglers conducts its principal operations in New York in the Counties of Monroe, Wyoming, Wayne, Genesee, and Erie. Anglers is a member-in-good-standing of the Western New York Better Contractors Bureau.
About the Acquisition.
Anglers' founder and principal shareholder was a private client of Randolph S. Hudson, one of Encounter's indirect control shareholders and its Chairman, President, and Chief Executive Officer, and of Michael P. Grande, one of Encounter's indirect control shareholders and Encounter's Vice-Chairman. Encounter acquired Anglers for 250,000,000 shares of Encounter's (pre-reversal) common stock, plus additional deferred consideration. Michael A. Rehberg, Anglers' President and Chief Executive Officer said, "The deal just makes good sense. Mike [Grande] has extensive experience in construction; particularly, in the roofing business, and Anglers will be a good fit for what Mike and Randy [Hudson] are doing with Encounter, Real American [Real American Capital Corporation (US.RLAB.PK) ("Real American")], and their other companies".
Integration with Encounter and its Affiliates.
Anglers will remain a non-public corporation, the shares of which will be totally held by Encounter. It is contemplated that Anglers will perform work and services for Encounter, on its commercial and residential income properties, and for other affiliates in The Hudson and Grande Organization; most notably, for the facilities owned and operated by Real American and for First Intercity Bancsystems, Inc.
Mr. Grande said, "I don't anticipate much volume, from a practical business sense, until at least spring; however, once the weather improves in Western New York, I know that I will have established a marketing plan for Anglers that should drive business to the company during the late spring, all of summer, and early fall. In addition to serving our companies, Anglers can distinguish itself among the other roofers and siding companies operating in Western New York by offering quality, insured work at competitive prices. In any event, it will benefit Encounter's shareholders.".
Mr. Hudson added, "The way in which we structured the transaction with Anglers' principal shareholder, the company will not be a financial burden to Encounter through March, as the company's principal shareholder agreed to continue paying Anglers' expenses, which primarily consist of employee-related and liability insurances and expenses. Then, Mike and I have to carry the ball.".
Encounter expects to include Anglers on its temporary website as soon as is practicable.
