Encore Energy Systems Reiterates Record Date for Cash Distributions From Patent Royalties Set for 4PM EST 20 February 2009
February 20 2009 - 12:42PM
Marketwired
Encore Energy Systems (PINKSHEETS: ENCS) announced today that at
4PM EST today it will establish the record date for its stockholder
escrow account and cash dividend.
All stockholders of record at 4PM EST, 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 was 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:
-- New agreements for the sales and distribution of bio-fuel feedstocks
-- New agreements and joint ventures with existing bio-fuel facilities
operating under capacity
-- 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
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.
Investor Relations: Contact: Encore Energy Systems, Inc. Email
Contact 1.662.253.5766
Encore Energy Systems (CE) (USOTC:ENCS)
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