Virtual Ed Link Board of Directors in Discussions to Further Reduce the Outstanding Shares
23 September 2010 - 9:00PM
Marketwired
Virtual Ed Link, Inc. (PINKSHEETS: VRED)
announced today that its Board of Directors is currently in
discussions to retire or convert an additional block of up to 1
billion shares. This share reduction, if completed, would be in
addition to the 750 million shares announced on August 31, 2010.
If consummated, the company's outstanding share count would
potentially be reduced from its current 3,783,147,467 down to
2,033,147,467. That would represent a 53.7% reduction in the
outstanding share total.
John Bay, President and CEO of Virtual Ed Link, stated, "Our
thinking behind these two very significant share reductions is to
assure that our investors will achieve the maximum shareholder
value possible. Yesterday we announced some key contracts which
have presently generated revenues for Virtual Ed Link, and should
continue to do so in the coming years. It's important for us to
reward our shareholders for the confidence they have placed in us
over the years when we were a developmental stage company." Mr. Bay
also said, "With our anticipated increase in revenues and earnings
over the next few years as our marketing efforts continue to grow,
our shareholders will benefit more greatly from a higher earnings
per share with the new proposed share structure. I expect to report
on the progress of this initiative as well as other company
developments in the near future."
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
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