Encounter Development Technologies Inc. (ENTI)

[ActivClient]

Hmm...

GH Email Response to A/S!

On Oct 1, 2010, at 9:17 AM, james xxxx wrote:


Mr. Hollister,

It has come to the attention in the IHUB chatroom that ENTI has increased the A/S from 5 billion to 10 billion. Why has this been done and how can it be done without shareholder approval? I, as an investor, have taken quite a beating holding on to my shares. In fact, I have more than doubled my position. Now I find out the A/S has increased! What are these shares for? I need some assurance that these shares will not be dumped into the float like the last 2+ billion. If they are, we will never get out of the 000's! I urge you to get the chatroom an answer quickly as today's market for ENTI does not look good.

GH Response

Jim,


I can assure you that the share increase that has taken place this week will prove shareholders that the company is progressing towards shareholder transparency and raise shareholder value.


I have been authorized to disclose certain pieces of information but have restricted due to announcements that will be forthcoming.


I can disclose that the company has put in place the share increase in order to issue restricted shares for the company board members. The majority of these 5B shares will be held by the board members and will not be placed into the open markets.


The remaining shares will be used to increase shareholder value and shareholder confidence. More information in regards to this cannot be disclosed at this time but the company will update shareholders via press release in the coming days.


Thank you,

Gerrard Hollister
[e-mail]

Wasn't this A/S increase partly suppose to increase "shareholder value and confidence"?

What happened here? That was 4 months ago...28% down from where I got out at on the day of the above email...Mr. Hollister needs to provide a follow-up on this...