SOURCE: VShield Software Corp.

March 13, 2007 09:30 ET

VShield Software Corp. Moves to Investigate Short Sellers

VShield Software Corporation to Order NOBO List

DOVER, DE -- (MARKET WIRE) -- March 13, 2007 -- VShield Software Corp. (PINKSHEETS: VSHD) management is in the process of ordering a current Non Objecting Beneficial Owners list (NOBO list) from ADP Investor Communications. The NOBO list shows a more complete and comprehensive shareholder profile than is typically available on a shareholder list provided by a transfer agent. In addition, management will order Depository Trust Corporation (DTC) reports for further examination. Both lists will be utilized to uncover possible short positions.

The NOBO list will be used to determine the naked short position in VShield's common stock. The NOBO list will be compared to the reports from the DTC which contains data regarding all brokers and amounts of shares being held for investors. These lists will be used to get a total amount of shares owned by all shareholders and any naked short positions. The findings will then be reported to the NASD (National Association of Securities Dealers) to take action against the violators of the naked short regulations.

The company would like to advise the shareholders to ensure their accounts have not lent out their stock without the shareholder's knowledge and consent. Shareholders are also advised to ask their broker's compliance department if any of their stock position has been loaned to potential short sellers, and how to prevent this from happening.

Our corporate advisors and legal parties have agreed that we must take action against suspected naked short selling of its or anyone's securities in the marketplace. The company will take all necessary action to protect its shareholder's investments.

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.
    Digital Assistant: 302-336-9736