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ENCOUNTER TECHNOLOGIES, INC. ANNOUNCES SALE OF FILMROOKIE TO EUROTECH, INC.Jul 29, 2011 (Mass Media Distribution LLC via COMTEX) -- "This is a great move for both companies at this time," says Thomas Hargis, CEO of Encounter Technologies, Inc. "As I indicated in my first two podcasts, we are taking a serious look at the assets in the Encounter Technologies stable and looking at what is the best fit for us at this time." According to Hargis, this move is indicative of a fundamental shift within the corporation itself. "We are looking to cultivate new technologies and bring them to market. FilmRookie is a great platform with so much potential, but at this time we feel it's better served under the EuroTech umbrella," stated Hargis. According to the terms of the agreement, the sale of the platform nets Encounter $500,000.00 within a year of the final sale. Hargis believes this is the best move for Encounter at this time. "We have several power-house ideas cooking to bring rapid revenue into the company and we didn't want to let FilmRookie languish while we focused our attention on our current and upcoming projects. We know Eurotech has big plans for FilmRookie and we are excited to watch as that portion of the technology comes into it's own under the new company." In addition, Encounter will be launching it's new logo and website design in the coming days. "This is a great time here at Encounter, we are making some great changes within the company and are looking forward to what is coming down the pike for us," said Hargis. "This new look and feel to our site is just the launching off point to a new day here for both the people we work with and our investors. We are going to build a strong brand with this company and it's exciting to be a part of." Hargis also hinted there's more good news coming. He indicated that next week will bring a lot of excitement about the future of Encounter as they release information about the first of their revenue generating projects to come to life under the guidance of this dynamic and forward thinking CEO. ABOUT ENCOUNTER TECHNOLOGIES, INC. (ENTI) Encounter Technologies, Inc. specializes in social media, video technology and on-line entertainment web solutions. The Company utilizes pre-built applications to provide platforms for businesses interested in utilizing video technology to increase online collaboration and interaction. The goal is to provide clients with the best methods to increase user value and achieve desired business results. Simply put, Encounter Technologies, Inc. transforms ideas into revenues. For more information about Encounter Technologies, Inc. visit www.encountertech.com. This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events or results to differ materially from those projected in the forward-looking statements as a result of various factors and other risks. You should consider these factors in evaluating the forward-looking statements included herein, and not place under reliance on such statements. The forward-looking statements in this release are made as of the date hereof and Encounter Technologies, Inc. under take no obligation to update such statements. INVESTORRELATIONS CONTACT: Encounter Technologies, Inc. [email protected] |