Business
ENCOUNTER DEVELOPMENT TECHNOLOGIES INC. ANNOUNCES A CHANGE IN CONTROL, NEW MANAGEMENT, AND CORPORATE RESTRUCTURING
ENCOUNTER DEVELOPMENT TECHNOLOGIES INC. ANNOUNCES A CHANGE IN CONTROL, NEW MANAGEMENT, AND CORPORATE RESTRUCTURING.
About this update from Encounter Technologies Inc
[{"type":"text","content":"The Board of Directors of Encounter Development Technologies\nInc., a Colorado corporation (US.ENTI.PK), is pleased to announce that a change\nin the company's control occurred on December 15, 2013; whereby, Electronic\nMerchant Systems Rochester, Inc., a New York corporation (\"EMS\"), and\nFirst Hudson Trust of New York, a Massachusetts trust formed and operating\nunder the laws of the State of Oklahoma (\"First Hudson\"), acquired\nall of the company's issued and outstanding shares of Series A Preferred Stock\nfrom Carrie Cosner, the company's former Chairman of the Board. The terms of the transaction were not\nimmediately disclosed, however, Randolph S. Hudson, the company's newly\nappointed Chairman of the Board, President, and Chief Executive Officer, stated\n\"the terms of the transaction and all other pertinent information relating\nto the company's former, current, and planned activities will be included on a\ncurrent report, which the company expects to file with OTC Markets and the\nSecurities and Exchange Commission by the end of January 2014\".\n\nThe company's board of directors is grateful to Mrs. Cosner\nfor her efforts, following her appointment as the company's chairperson,\npresident, and chief executive officer, to make the company's administration\nand operations more \"transparent\" to its shareholders and investors,\nand for having taken the time go out-of-pocket to fund the company to advance\nit toward its next stage of development. \nMrs. Cosner remains as one of the company's common stockholders as the\nresult of her sizable (open market) investment in the company during the past\nfew years.\n\nEMS and First Hudson intend to reposition the company as a\nreal estate holding company. \n\"Following an exhaustive review of the company's assets, business,\nand operations, or lack thereof, EMS and First Hudson have decided to focus the\ncompany's business through the ownership and operation of commercial and\nresidential real estate assets that are located throughout the United\nStates\" said Mr. Hudson. He\ncontinued by saying \"EMS and First Hudson are principally concerned with\nthe contributions of the company's shareholders; however, the further\ndevelopment of the company will not occur overnight but will be accomplished\nunder a comprehensive and strategic plan of restructuring t...