CLEARWATER, Fla., May 27, 2011 /PRNewswire/ -- ValCom, Inc.
(VLCO.PK) today issued a statement pertaining to decisions recently
made by the company's board of directors and CEO that relate to the
company's stock and shareholders.
In the 1st quarter of 2011, an appraisal was conducted by DOS
Broadcast and Appraisal Services to determine an accurate value of
content owned by the company. The appraisal has revealed that
royalties of up to $5 Million are due
to ValCom. The company announced that it is considering providing a
portion of these revenues as a dividend to ValCom shareholders once
the company's debt is retired.
"We have shareholders who have gone through ValCom's hard times
and are dedicated to the company," stated Vince Vellardita, President and CEO of ValCom,
"We're considering taking some of these funds to provide
shareholders with a long awaited reward."
In addition, the company provided information pertaining to a
reverse stock split option that shareholders authorized the Board
of Directors to implement at their discretion. The Board has
decided that a reverse stock split at this time would not be in the
best interest of shareholders. The Board will again review the
matter of a reverse split in 8 months and take the appropriate
action based on market conditions and share price at that time.
About ValCom, Inc.
Based in Clearwater, FL,
ValCom, Inc. is a diversified, fully integrated, independent
entertainment company that has been in operation since 1983.
ValCom, Inc., through its operating divisions and subsidiaries,
creates and operates full service facilities that accommodate film,
television and commercial productions with its four divisions
comprised of television and film production, broadcasting (My
Family TV Network), distribution, and live theatre. ValCom's client
list consists of all of the majors such as MGM, Paramount Pictures,
Warner Bros, Disney, CBS, Sony, NBC, Phantom of the Opera, HSN, and
more. For more information, please visit the company's website at
www.valcom.tv.
Note About Forward-Looking Statements
With the exception of historical information, this press release
may contain forward-looking statements as that are made pursuant to
the "safe harbor" provisions as defined within The Private
Securities Litigation Reform Act of 1995 (the "PSLRA").
Forward-looking statements may be identified by words including
"anticipates," "believes," "intends," "estimates," and similar
expressions. In addition, any other statements which contain
characterizations of future events or circumstances are
forward-looking statements. These statements are based upon
management's current expectations as of the date of this press
release. Actual results may differ materially from the expectations
contained in this press release due to a number of risks and
uncertainties relating to our business which are discussed in
detail in the Company's periodic filings with the Securities and
Exchange Commission. ValCom, Inc. does not undertake any
responsibility to publicly update any forward-looking statements to
reflect events or circumstances after the date on which any such
statement is made or to reflect the occurrence of unanticipated
events.
Investor Relations
Ingrid Clavijo
(727) 953-9778
SOURCE ValCom, Inc.