Encore Energy Systems Inc (ENCS)

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Dividend number three:

Encore Energy Systems Announces Details for $2,000,000 Stock Dividend as Part of Planned Merger With BioConversions
Thursday August 14, 11:51 am ET

OXFORD, Miss., Aug. 14 /PRNewswire-FirstCall/ -- Encore Energy Systems (Pink Sheets: ENCS - News) released today the details its stock dividend.

Upon merging with BioConversions International, all record-date stockholders and all EGVI stockholders will receive, pro rata, $2,000,000 in Convertible Preferred Stock. The Preferred Stock may be converted into Common Stock annually. The Conversion feature will expire in 5 years.

This dividend is in addition to the previously declared cash dividend whereby all royalty income from the Company's patents will be distributed directly to stockholders.

The Company has executed a Letter of Intent to merge with BioConversions International. BioConversions reports over $17,000,000 in projected sales with net earnings of approximately 12%. Encore will continue as a subsidiary. The Directors and Officers of Encore will resign.