Viyya CEO Updates Shareholders on Current Progress
March 25 2010 - 8:00AM
Marketwired
Viyya Technologies, Inc. (PINKSHEETS: VYON) -- On January 27, 2010,
we issued a shareholder release outlining Viyya's presentation at a
conference sponsored by the Magazine Publishers of America earlier
in the month. The purpose of Viyya's participation was to provide
quantitative insight into the possibilities of "article-level
aggregation of premium magazine content through today's mobile
ecosystem."
We are confident that Viyya has developed, and can provide, the
necessary mobile-aggregation software platform. For the past 8
months, we have been meeting with, and presenting to, numerous
publishing and communications companies in an effort to develop an
effective partnership within which to launch our aggregation
platform.
After months of discussions, we have finally achieved what we
believe to be a very viable solution and potential multi
carrier-relationships. Effective March 22, 2010, Viyya has
submitted a Letter of Intent (LOI) to such a solution partner,
outlining the terms and deliverables of the proposed partnership
agreement. Due to the very sensitive nature of this arrangement,
and the key-players involved, we're constrained from divulging the
potential parties, or details of the LOI at this time.
However, it is necessary to note that the principle partner is a
major player in the communications industry, and the potential
revenue stream from the agreement, if executed, would be
significant. According to John Bay, legal review and final
negotiations will take approximately 6 to 8 weeks, and John
cautions that there are no guarantees until a final agreement is
executed. We will continue to update our shareholders as events
unfold.
About Viyya Technologies: Viyya Technologies (www.viyya.com)
(PINKSHEETS: VYON) is a publicly traded company based in Fairfield,
New Jersey. The company develops content intelligence SaaS
applications and platforms that range from a single user service
for the active business professional to large multi-user
environments for specific industries in both the public and private
sectors.
The company's core technology components manage information by
enabling users to customize the way they collect, process, and
experience digital content. Its innovative cloud-based technology
gives users the ability to retrieve filtered information from
multiple sources, organizes it through flexible and dynamic
options, and delivers it to any device. For additional company
information, please visit www.viyya.com.
Legal Notice: "Forward-looking statements" as defined in the
Private Securities Litigation Reform Act of 1995 may be included in
this release. These statements relate to future events or financial
performance; are based on current expectations/projections about
Viyya and its industry; and may differ materially from actual
future results or events. Such words as "expects," "believes," and
"anticipates" are intended to identify these statements. Viyya
disclaims any intention or obligation to revise any forward-looking
statements whether as a result of new information, future
developments or otherwise.
For more information visit: www.viyya.com
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.
Contact: Pam Dominiczak Investor Relations Viyya Technologies,
Inc. Phone: 973-276-0555
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