Virtual Ed Link Solution to Provide Security and Information Management Services to New York State School Districts With Revenue Generation Potential Greater Than $10 Million
Sep 25, 2009 4:00:00 PM
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FAIRFIELD, NJ -- (MARKET WIRE) -- 09/25/09 -- Virtual Ed Link, Inc. (PINKSHEETS: VRED) -- Dr. Alan McCartney, Chief Operating Officer and Virtual Ed Link management recently met with assistant director Denise Graminski and other representatives of the Northeast Regional Information Center (NERIC), Albany, New York, to finalize plans on marketing and deployment of the Safety and Security Management System (SSMS).
The NERIC falls under the supervision of the Capital Region Board of Cooperative Educational Services (BOCES). The Capital Region BOCES employs approximately 1,200 people and have a general fund budget of $93.8 million. They are the seventh largest of the 37 BOCES in the state in terms of total budget. New York State school districts receive financial aid from the state as encouragement to deploy hosted services, share resources and to obtain economies of scale. In a geographic service area that covers 12 counties, the NERIC provides advanced technology services to 140 school districts. The NERIC contract offers a potential of 174,276 users and annual revenues of $784,235 for the basic SSMS service alone, excluding add-on services.
The Virtual Ed Link sole-source solution has been installed, authenticated and approved as a service. Services can now be provided and aid generated to any school district through the NERIC. This allows the Virtual Ed Link service to be replicated within or shared through the other eleven (11) Regional Information Centers (RICs). Virtual Ed Link will be working with NERIC to generate cross contracts and/or to replicate our services outside of their geographic area. This statewide network offers Virtual Ed Link a potential deployment of 2.84MM student users and $12.78MM in annual revenue.
Virtual Ed Link joins companies like Cisco Systems, Inc. and Blackboard, Inc. in working to provide New York State schools with services and support that meet the needs of students and communities.
NERIC and Virtual Ed Link management have scheduled additional meetings with various focus groups to discuss the rollout of additional SSMS components to New York State students.
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.
Legal Notice Regarding Forward-Looking Statements: "Forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance; they are only predictions and may differ materially from actual future results or events. Virtual Ed Link disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. Important risk factors could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic/business conditions (including in the information technology and financial information industry), actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services and changes in our business strategies.
Contact:
Pam Dominiczak
Investor Relations
Virtual Ed Link, Inc.
Phone: 973-276-0555
info@virtualedlink.org
www.virtualedlink.org
