Encounter Development Technologies Inc. (ENTI)

[balamidas]

HUGE NEWS for ENTID Shareholders $$$$ >>read very well the following >>>

MM are caught on ENTID

why ?

Thursday, April 28, 2011, was the last day to purchase ENTI shares to be on record and eligible for the forward stock split. Shareholders of record at the close of business today will benefit from the 1.033 for 1 forward split. Per FINRA as received by the Company on Wednesday, April 27, 2011, "This corporate action will take effect at the open of business on Friday, April 29, 2011. The symbol on this date will be ENTID

http://finance.yahoo.com/news/Update-Encounter-Technologies-prnews-1024199620.html?x=0&.v=1

the great NEWS is

What happens if the stock I've shorted splits?

MF Swagman replies:

Let's say we're speaking of a two-for-one split. In that case, all that happens is that you must cover your short position with twice as many shares as you opened it. If you shorted 100 shares, you must cover with 200. Don't forget, though, that the magnitude of your investment hasn't changed, for while you now have twice as many shares, each one is only worth half as much as before! So, while your original cost basis for the 100 shares may have $36, now, with 200 shares, it is only $18.

link:

http://www.fool.com/FoolFAQ/FoolFAQ0033.htm


MM were shorts before the forward split ,to cover they need to cover DOUBLE the amount of shares they have shorted on ENTI !!!

that explains the move to 0.01 Monday and then the sudden drop back to 0.0009 levels to entice sellers

MM are caught badly here ,especially that the DIVIDEND shares are in PTEL and not in ENTI !!!