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Update: Viyya Announces 4:1 Stock Dividend of Virtual Ed Link Thursday November 15, 9:55 am ET
ROSELAND, NJ--(MARKET WIRE)--Nov 15, 2007 -- Viyya Technologies Inc. (Other OTC:VYON.PK - News), developer and marketer of the world's most advanced, web-based, information management application, is pleased to announce the public trading of Virtual Ed Link, Inc stock, with the symbol (Other OTC:OPUC.PK - News).
ADVERTISEMENT Virtual Ed Link (VELI) has been introduced to Educational Institutions as the marketer of a proprietary School Safety Management System (SSMS), heralded as the most comprehensive solution for schools and colleges across the country, providing enhancement of a school's day-to-day communication processes, and emergency dissemination of alerts and information.
Viyya's Board of Directors approved a stock dividend distribution of four (4) common shares of Virtual Ed Link stock to VYON shareholders of record as of December 21, 2007. The company expects the pay date to be on or before January 10, 2008.The VELI dividend shares are not registered, and as such will bear a restrictive legend.
Virtual Ed Link Inc has filed for a symbol and CUSIP change with the appropriate agencies, and expects the current symbol for Virtual Ed Link to change in the near future.
John Bay, CEO and president of Viyya, said: "The stock dividend distribution represents our Board's thanks for the support shown to our company by Viyya's thousands of shareholders. We expect their continued support will also be rewarded as VELI's School Safety Management System becomes a standard solution in schools and colleges across the U.S."
Bay added: "It's important to recognize that Viyya's core technology is the engine that powers the SSMS. We expect that fact will enhance Viyya's value as a creator and developer of intelligence management applications for internet search, retrieval, and data dissemination. Viyya's capabilities are unmatched in today's Web 2.0 collaborative environment."
As previously announced, in the terms of the share exchange agreement, VELI will assume approximately 98% control interest of Virtual Ed Link Inc. The terms and conditions are subject to customary state and federal filings and submissions. The new Board of Directors will consist of John Bay (CEO of Viyya Technologies), Tim Brock (President of The Atlantic Companies), Joseph Forese (COO of Viyya), and Dr. Alan R. McCartney (Director of Marketing for VELI).
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