ROCHESTER, NEW YORK, January
15,
2014. Michael P. Grande, the Chairman of
the Board, President, and Chief Executive Officer of Electronic
Merchant
Systems Rochester, Inc., a New York corporation ("EMS"), and
Randolph
S. Hudson, the Managing Administrative Trustee of First Hudson
Trust of New
York, a Massachusetts trust organized under the laws of the State
of Oklahoma
("First Hudson"), are pleased to announce the acquisition of
Apple
Rush Company, Inc., a Texas corporation (US.APRU.PK) ("Apple
Rush"), by
EMS and First Hudson as of this date.
Mr. Grande
said, "Apple Rush
and the introduction of its beverage products and distribution
network will be
a welcome addition, and will complement and better serve the
shareholders of
Encounter (Encounter Development Technologies Inc., a Colorado
corporation
(US.ENTI.PK)), in the overall plan that Randy [Hudson] and I have
devised for
all of the companies under our common control and
ownership.".
Apple Rush,
under the wisdom of
its founder and creator, Robert J. Corr, a legend in the beverage
industry
dating back to the 1970's, has evolved to a customer-centric
product that is a lightly
carbonated, organic 100% juice product, and that is presently
available in four
different flavors, that Mr. Grande and Mr. Hudson
intend
to
mass-test market in the Northeastern United
States in the coming months, and, Apple Rush is now in negotiations
with
various distillers to manufacture a maltous (alcoholic) beverage
that the
company will introduce in certain, select markets in the
Northeastern United
States and in Nevada by the end of the third calendar quarter of
2014.
Mr. Grande and
Mr. Hudson have extensive
connections in the bar and casino industries in New York, Florida,
and
Nevada.
Mr. Hudson
said, "Bob
[Corr] has been and continues to be a true visionary in the
beverage
industry.
Mike [Grande]
and I are
honored to work with him in developing Apple Rush's brands and to
know him as
an individual."
Mr. Hudson and
Mr. Grande,
together with Dean M. Denton, Tiffany L. Grande, will serve as
interim, acting
officers of the company until the board of directors appoints
individuals who
are qualified in their various fields of specialty to take the
company to the
next level.
Of
course, as the indirect
control shareholders of Apple Rush, Mr. Grande and Mr. Hudson will
remain on
the company's board of directors following the appointment of its
new officers
and directors.
"Our goal is
to unify all of
the companies under our control to establish, fortify, and promote
the Hudson
and Grande brands in the banking, real estate, financial, lodging,
and
foodservice industries" said Mr. Grande.
Apple Rush
will be one publicly
traded operating segment of the companies that operates under the
Hudson and
Grande aegis of companies.
The other
companies that are affiliates of Encounter are Real American
Capital Corporation,
a Delaware corporation (US.RLAB.PK) ("Real American"), which will
be
reorganized as Dreamcatchers Entertainment International, Inc., a
company that
specializes in a variety of entertainment fields and internet
product
marketing; Oncology Medical, Inc., a Delaware corporation
(US.ONCO.PK) ("Oncology");
and First Intercity Bancsystems, Inc. ("First Intercity") that is
a
company in-organization and that will conduct an initial public
offering in the
second or third calendar quarter of 2014.
First
Intercity will be a financial services company that will
operate
credit unions and offer credit cards, subprime auto loans, and
subprime
mortgages to its customers in New York, Michigan, Florida, and
Nevada.
(Mr. Hudson
and Mr. Grande are in the process
of submitting documents to regulators, initially, in the State of
New York; they
cannot estimate the date of effectiveness of any such
approvals.)
Mr. Grande
said, "Our idea
is to assemble a group of companies that will benefit the
shareholders of each
company and that will offer quality products and services at a good
value to
the public.
Moreover, each
company under
our control will benefit by providing products and services to the
other
companies in our group.".
Mr. Hudson
added, "The
public companies that we have acquired, and those that we will,
most likely,
continue to acquire, require significant actions and resolutions to
remedy
their current administrative and operational
deficiencies.
Following the
completion of the necessary
filings, notifications, and the submission of the reports required
to be
submitted by each company to various regulatory and self-regulatory
agencies,
Mike [Grande] and I will be able to proceed in causing each company
to carry
out their respective intended business purposes.
Mike and I
expect to be able to complete all
of these administrative undertakings by the end of April
[2014]."
Mr. Grande and
Mr. Hudson are
also weighing the possibility of effecting a master revenue sharing
agreement;
whereby, the shareholders of each of the public companies under
their ownership
will share in the revenue from all of the
companies.
Mr. Hudson
said, "Mike and I are
checking with our attorneys to see if [the revenue sharing] is
something we can
effect with minimal notification and/or filings with the SEC and
with various
state's securities departments.
A
revenue sharing arrangement would only further serve to benefit
our
[collective] shareholders.
We
must make
certain that we operate within the law and in the best interests of
our
shareholders."
Many of
Encounter's shareholders
and those of Oncology have suggested that one or both companies
enter the field
of growing, packaging, and dispensing marijuana.
Mr. Grande and
Mr. Hudson in past have deliberated
this issue.
Mr. Grande
said, "Randy
and I have considered this option in the past.
The
stocks of public companies that are engaged in growing and
selling
pot fluctuate.
If
we were to engage in
this industry, we'd have to make certain that we operated in the
bounds of the
laws of the state in which we were growing and selling the
marijuana, and, more
importantly, we would have to consider the interests of the
majority of our
shareholders before we committed any of our companies to this field
of
endeavor.".
Mr. Hudson
added,
"Mike and I have been evaluating a number of different scenarios to
engage
in this business.
While each of
us,
personally, do not consume this product, it seems the majority of
Americans
have or do participate in the recreational or medically related use
and
application of this product.
If
our
entry into this business would be viable and condoned by the state
or states in
which we engage in this business, and, if it were to provide a
significant financial
benefit to our shareholders, I think that Mike and I would be in
favor of
it."
Mr. Grande
added, "Randy and
I will keep Encounter's shareholders, and those of our other
companies that are
affiliated with Encounter informed with new developments as they
occur.".
Mr. Hudson
added, "Our shareholders and
investors should keep in mind that investing in ours or in any
stock, particularly
a "penny stock", present substantial risks.
Our
shareholders and investors should be
informed of these risks and should rely on offering materials
before buying our
stocks.
Mike and I are
open to
company-direct stock purchases that we can offer under one or more
exemptions
from the registration requirements of the Securities Act of 1933;
however, the
purchasers must be well informed of the terms and provisions of any
such
offerings and the risks involved to the shareholder or
investor.".
Encounter's
Board of Directors is
coordinating with the board of directors of the other companies
that operate under
the aegis of Hudson and Grande to schedule its annual meeting in
Las Vegas,
Nevada, which meeting is tentatively planned to be held in mid
to
late-February.
Encounter will
provide
information to its shareholders, accordingly, prior to the date and
location
for such meeting.
(The senior
executive management
of Encounter, Real American, Oncology, and Apple Rush seek safe
harbor for
their forward-looking statements, as such is permitted under the
Private
Securities Litigation Reform Act of 1995.
Nothing
contained in this announcement should be inferred to imply any
offer neither to buy or sell securities nor to solicit the purchase
or sale of
any securities.
Shareholders
and
investors are encouraged to seek professional guidance by a
licensed investment
adviser, attorney, or registered accountant before making any
decision to buy
or sell the securities of any company mentioned in this
announcement.)
Encounter Technologies (CE) (USOTC:ENTI)
Historical Stock Chart
From Aug 2024 to Sep 2024
Encounter Technologies (CE) (USOTC:ENTI)
Historical Stock Chart
From Sep 2023 to Sep 2024