Encore Energy Systems Announces Cash Dividend and Record Date of February 20, 2009 for Patent Royalty Proceeds Distribution
February 13 2009 - 12:14PM
Marketwired
Encore Energy Systems (PINKSHEETS: ENCS) announced today the record
date for its stockholder escrow account and cash dividend. The cash
dividend record date is 20 February 2009.
All stockholders of record on 20 February 2009 will be entitled
to yearly dividends, pro rata, from all royalties received under
the Company's current patent license agreements.
All royalty revenue received from these projects will be
direct-deposited, in full, to a Shareholder Escrow Account. The
dividend will be distributed to all record-date stockholders on an
annual basis, pro rata.
The Company granted a worldwide license for its geothermal
patents. Regular payments and commissions are due alongside regular
reports on progress as follows: 2% of Net Sales, plus a Yearly
Payment after a 2 year grace period of $20,000, $40,000 and $60,000
in years 1 through 3, respectively. The minimum payment per year
after Year 3 is $100,000.
Investors can expect timely updates on the following:
-- Full details and instructions for DeMarco/EGVI stockholders to receive
the Preferred Stock dividend and dedicated web page
-- Details on the Company's Combined Heat and Power generation programs
(CHP)
-- Partnerships and Executive Management agreements for the Company's
business development and marketing programs
-- New web sites, corporate image and published business plans
-- Published financial reports on the combined entities no later than 1
March 2009
-- Guidance on 2008 performance and Revenue and Debt elimination to be
released before financial reports
-- Financial projections regarding both revenues and asset growth through
the Company's planned acquisitions
-- New LOIs and planned acquisitions of various biofuel production
facilities
-- New biofuel production and distribution agreements
About Encore Energy and BioConversions
ENCS is an international aggregator bio-diesel reactor
technology, fuel distribution, production systems and fuel
production facilities.
The Company also owns the patents for the use of grey-water, and
domestic water in heat exchanger systems. They also provide all
forms of conventional geothermal heat exchange systems. See our
video at http://www.encoreenergyinc.com. The Company licenses its
patented technology to other energy-related businesses.
Safe-Harbor Statement
This press release contains statements (such as projections
regarding future performance) that are forward-looking statements
as defined in the Private Securities Litigation Reform Act of 1995.
Actual results may differ materially from those projected as a
result of certain risks and uncertainties. The company's web-site
version of this press release contains various RISK FACTORS (and
are incorporated herein by reference) and should be read before any
investment decision.
Contact: Encore Energy Systems, Inc. Investor Relations Email
Contact 1.662.253.5766
Encore Energy Systems (CE) (USOTC:ENCS)
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