Encounter Development Technologies Inc. (ENTI)

[inan0ut]

no where in the press release or in the podcast does it say anything about converting the shares. thats what you assume, facts below

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.