SOURCE: ValCom, Inc.

May 16, 2011 09:30 ET

ValCom's Board and Shareholders Uncover Hidden Treasure

CLEARWATER, FL--(Marketwire - May 16, 2011) - ValCom, Inc. (PINKSHEETS: VLCO) CEO Vince Vellardita added a surprise presentation at the company's shareholders meeting that took place on Wednesday, May 11th.

Mr. Vellardita introduced two representatives from DOS Broadcast and Appraisal Services, Dale Smith and Michael Askew, their CPA/Auditor who conducted a one-hour presentation pertaining to their valuation of ValCom's 6,000 video and audio titles. The gentlemen from DOS discussed the appraisal process and provided information pertaining to specific titles (including 13 master recordings of Elvis Presley with The Platters; masters from Ike & Tina Turner before they were stars; a very rare 3 Stooges film; and films starring top Hollywood talent like Denzel Washington, Anthony Hopkins, Robert Di Niro, Jodi Foster, Russell Crowe and Mel Gibson). Michael Askew, the appraiser's auditor also clarified how the estimated $120 million value was derived.

Through the DOS presentation, shareholders also learned that the original $2 million in library back royalties due to ValCom was a conservative projection and that the number will likely exceed $5 million. Information pertaining to the DOS appraisal of the ValCom library can be found on the following website: www.valcom.allplanet.net.

Additional business at the shareholder meeting included the addition 3 individuals with vast business and entrepreneurial experience to serve on its Board of Directors. Timothy Harrington, Silvana Costa Manning and Michael Vredegoor will be joining Frank O'Donnell, and Vince Vellardita in serving as Directors for ValCom, Inc.

"We had a great meeting with our shareholders, stated Vince Vellardita, President and CEO of ValCom, Inc. "We've put together an incredible team of business leaders. We have Michael Vredegoor, who has handled billions of dollars in assets and provides critical experience in international banking; Silvana Costa Manning, a medical sales and marketing guru and founder of Tri-Delta Diagnostics and BioAccess LLC; and Tim Harrington, an entrepreneur, venture capitalist and founder of Able Energy and the Able Income Fund. They will be joining Frank O'Donnell, a technology genius with 30 years of experience in international markets who played a key role in developing the Universal remote control, a product which has generated over $1 Billion in revenue."

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, 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 http://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

Contact Information

  • Investor Relations:
    Ingrid Clavijo
    (727) 953-9778