Virtual Ed Link Board Approves Common Stock Share Reduction of 20%
31 August 2010 - 9:00PM
Marketwired
Virtual Ed Link, Inc. (PINKSHEETS: VRED) --
Virtual Ed Link announced that its board of directors has
unanimously approved a 20% reduction in the company's common stock.
The move was designed to decrease the outstanding shares and
increase shareholder value. The shares were originally issued to
third parties during the corporation's formation in the latter part
of 2007 as part of a marketing agreement for VRED.
Since those marketing efforts were never realized, the board
unanimously agreed to enter into negotiations with the third
parties in order to rescind the original transaction and return
over 750,000,000 shares to treasury.
"One of our top priorities is to put our shareholders in a
position of strength and increase our shareholder value," said John
Bay, President and CEO of Virtual Ed Link. "Our shareholders have
stuck with us for some time and have supported us when state and
federal budgetary cuts affected the school marketplace. As we now
see the market beginning to turnaround, we want nothing more than
to reward our valued shareholders any way we can. This reduction is
just the first in a long list of initiatives we are currently
working on and hope to put in place very soon."
Mr. Bay continued, "Over the past several weeks the board has
been evaluating various potential projects and opportunities that
are before us which if implemented could be extremely beneficial
for the company. We hope to have more announcements and provide
more details on these items very soon."
About Virtual Ed Link, Inc.
Virtual Ed Link, Inc. (PINKSHEETS: VRED)
sells the Safety and Security Management System (SSMS), which uses
proprietary core technology solutions developed by Viyya
Technologies. The Safety and Security Management System is marketed
and sold primarily to schools and colleges around the U.S. and
geared to be used as a collaborative Web 2.0 tool to share general
information retrieved from any internet source among the school
users, and especially, in the event of threats or danger, to
disseminate alerts to help and guide students, parents, faculty and
law enforcement in the actions necessary to help protect school
attendees, and school infrastructure.
For more information, visit http://www.virtualedlink.org
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: This news release contains forward-looking
information 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, including statements that include the words
"believes," "expects," "anticipate" or similar expressions. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results,
performance or achievements of the company to differ materially
from those expressed or implied by such forward-looking statements.
In addition, description of anyone's past success, either financial
or strategic, is no guarantee of future success. This news release
speaks as of the date first set forth above and the company assumes
no responsibility to update the information included herein for
events occurring after the date hereof.
Contact: Pam Dominiczak Investor Relations Virtual Ed Link, Inc.
Phone: 973-276-0555 info@virtualedlink.org
Virtual Ed Linc (CE) (USOTC:VRED)
Historical Stock Chart
From Oct 2024 to Nov 2024
Virtual Ed Linc (CE) (USOTC:VRED)
Historical Stock Chart
From Nov 2023 to Nov 2024