Virtual Ed Link Board of Directors Reduces Outstanding Shares by 53%
16 December 2010 - 11:00PM
Marketwired
Virtual Ed Link, Inc. (PINKSHEETS: VRED)
-- Virtual Ed Link announced today that its
Board of Directors voted to reduce its common stock issuance by
53%. This reduction represents approximately 1.7 billion shares.
The company's outstanding common stock share count would be
reduced from the current 3,783,147,467 down to approximately
2,033,147,467. This represents a 53.7% reduction in the outstanding
share total.
John Bay, President and CEO of Virtual Ed Link again stated,
"Our thinking behind these two very significant share reductions is
to assure that our investors will achieve the maximum shareholder
value possible."
This common share reduction is being made possible by the
company's two largest shareholders, Viyya Technologies, Inc. and
Timothy Brock. The 1.7 billion shares of common stock will be
converted to Series B Preferred Stock. The transaction is expected
to be completed during the month of December and reflected in
company financials for the fiscal year ending December 31,
2010.
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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