In terms of the company's administration, there are several material issues that must be addressed with our stock transfer agent, the Depository Trust and Clearing Corporation ("DTCC"), the National Securities Clearing Corporation ("NSCC"), and the Financial Industry Regulatory Authority ("FINRA"). Due to the direct actions by the company's senior executive management in and prior to 2012, Encounter has a DTC Chill imposed against its securities. Moreover, the company did not comply with the rules and regulations that required the company to notify FINRA of certain actions and/or events prior to their occurrence. I am working to resolve these issues; however, in honesty, I cannot speculate on the outcome. All these issues existed months and years before I joined the company. Regrettably, our stock transfer agent, Pacific Stock Transfer, must observe federal and state guidelines and, therefore, must observe the impositions on the company's securities until those matters are resolved. I am hopeful that Pacific will continue to work with me, if for nothing more, than to service the company's shareholders.
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