SOURCE: VShield Software Corp.

March 12, 2007 11:59 ET

VShield Software Corp. Is Debt Free Software Company With Assets Only!

VShield Software Corp. Explains Balance Sheet

DOVER, DE -- (MARKET WIRE) -- March 12, 2007 -- VShield Software Corp. (PINKSHEETS: VSHD) today clarified its Balance Sheet to counter any speculation by its new shareholders. The company explained that although millions have been spent preciously on software development and commercial site testing to date the secured creditors have agreed to create a new debt free entity that would start with only assets on the balance sheet and no debt whatsoever. Tangible assets in hardware, boxed software inventory, designs, potential process patents, copyrighted material and parts totaling thousands of dollars and the investment credit for the millions more that was spent were simply placed in the new company. The new VShield Software Corp. will have all it needs to produce its new software products on time and on budget regardless of the complexity and feature set. It has also been agreed that all previous enhancements and rights to other software not mentioned on the web site will also be transferred to the new company at no charge, when available. This suite of products will include a full suite of tested casino software, it proprietary net meeting software, and various other components.

"We have no debt, plenty of assets and millions already spent to help us," commented Patrick Burke, Chief Technical officer of VShield Software Corp. "It's a real pleasure to have no debt, assets, the base code, powerful leading edge software tools at our fingertips, superior designs ready to go, proven software expertise on tap and little overhead to worry about. We are going to be a hard to beat software provider with profitability and burn rate unmatched in the industry. If you thought we only dealt with large commercial installations and ignored the retail market you would be wrong. The millions of small players on the web are welcome to try our new products and enjoy what a debt free working environment brings to the market. We will be delivering the world's best products, with the fastest most stable upgrades, at the software markets best price and offering service no one can even hope to touch. We will make the Internet safer and more comfortable than your home," stated Patrick Burke.

About VShield Software Corp.

The company designs, produces, markets and sells leading edge computer security software programs that feature advanced software development and technologies that are superior to other products on the market. All of the Company's security systems are based on previously proven and field-tested large commercial security systems. These systems are based on hiding, disguising and encrypting various levels of files maintained on a computer such that an intruder is unable to obtain information from a desired file. This is unlike existing 'firewall' systems now on the market which are focused on keeping intruders from gaining unauthorized entry to a computer. Where applicable, products are patent and copyright protected in both Canada and the United States.

This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended; such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The Company may experience significant fluctuations in operating results due to a number of economic, competitive and other factors. These factors could cause operations to vary significantly from those in prior periods, and those projected in forward-looking statements. Information with respect to these factors which could materially affect the Company and its operations are included on certain forms the Company files with the Securities and Exchange Commission.

Contact Information

  • Contact:

    VShield Software Corp.
    By Web: Email Contact
    Digital Assistant: 302-336-9736