N@N

Virtual Ed Link, Inc.: Virtual Ed Link Comments on Apparent Short Trading in the Company Stock; Shares Sold Short Will Have to

^{Published on 2009-09-29 11:48:39 - Market Wire}
 

FAIRFIELD, NJ--(Marketwire - September 29, 2009) - Virtual Ed Link, Inc. (PINKSHEETS: [ VRED ]) has received many inquiries regarding the ability to transfer shares issued as a dividend by Viyya Technologies Inc. (PINKSHEETS: [ VYON ]) in January 2008 by relying on Rule 144. As of February 15, 2008, the Securities and Exchange Commission (SEC) instituted certain amendments and changes to Rule 144.

In view of the recent trading activity of the company stock, it seems apparent that some of the shares that were issued as a dividend by Viyya have come in to the market despite the fact that these shares are ineligible under rule 144(i). Virtual Ed Link has an opinion issued by a prominent NYC securities firm which addresses this issue. The company through its transfer agent has been distributing this opinion to clearing firms and brokerage houses who have been inquiring about the option of clearing the dividend shares.

Under this provision, Rule 144 generally may not be relied on for the resale of securities issued by a current or former "shell company." Virtual Ed Link merged into Opus Communities, Inc. ("Opus"), which was formerly a "shell company" on November 7, 2007 predating the rule changes. Under the new Rule 144(i), a person who wishes to resell securities issued by a reporting or non-reporting shell company, is not able to rely on Rule 144 to sell the securities. However, once a company ceases to be a shell company, a person may rely on Rule 144 to sell the securities if (1) the company is subject to the reporting requirements of the Securities Exchange Act of 1934 (the "Exchange Act"), (2) the company has filed all reports or materials required to be filed during the preceding 12 months, and (3) at least 90 days have elapsed since the time when the company filed its current "Form 10" information, which reflects its status as an entity that is no longer a shell company.

Since the dividend shares are restricted and cannot legally be traded, clearing firms and brokerage houses that are trading ineligible shares will be subject to covering those short traded shares by purchasing them in the market. The company anticipates that none of the dividend shares will become eligible for at least 120 days.

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.