FINRA Approves 12 Billion Stock Dividend to Encounter Technologies (ENTI) Shareholders
7:00a ET September 21, 2011 (PR NewsWire)
Encounter Technologies, Inc. (ENTI:PK), a company specializing in social media, video technology and on-line entertainment solutions, announced today final FINRA approval for a special dividend of preferred shares of Pegasus Tel (PTEL:OTCBB). On June 10, 2011 (Official Record Date), all common stock shareholders of Encounter Technologies became entitled to one (1) share of Pegasus Tel (PTEL) for each share of ENTI they own. The revised payable date for the dividend is October 3, 2011(Official Payable Date).
"I am pleased we are finally through the approval process," stated Thomas Hargis, CEO of Encounter Technologies. "This means we can really focus on our new social networking tool Roar! as well as some of our other platform innovations. This is a new and exciting time over here at Encounter. We are also looking forward to watching PTEL and MusicMatrix start to take off now too."
On March 30, 2011, Anthony DiBiase was named CEO for Pegasus Tel, Inc. and as a result, he declared a one-for-one dividend for ENTI Shareholders. As part of an asset purchase agreement with Pegasus Tel, Encounter Technologies received preferred shares of Pegasus. These preferred shares will be distributed to Encounter shareholders sufficient to allow each shareholder, once converted to Pegasus common stock, to have the same number of common shares of Pegasus as they hold in Encounter. The MusicMatrix web site was acquired by Pegasus Tel from Encounter Technologies in exchange for these preferred shares of PTEL.
"My shareholders know it has always been my mission to reward them for their continued support of MusicMatrix," stated Pegasus CEO Anthony DiBiase. "This dividend with PTEL is the most effective way to accomplish that goal and gain further investor credibility for our business. It is with sincere pleasure that I officially welcome over 3,000 new shareholders to Pegasus Tel
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