ValCom, Inc. Announces Reverse Stock Split and Receives New Trading Symbol.LAS VEGAS -- ValCom, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : VLCO), a diversified and vertically integrated, independent entertainment company, today announced that its Board of Directors have approved an amendment of the Company's Certificate of Incorporation certificate of incorporation n. some states issue a certificate to prove a corporation's existence upon the filing of Articles of Incorporation. In most states the Articles are sufficient proof. that would authorize a 1-for-20 reverse stock split, which received shareholder approval at a annual meeting of the shareholders, of all issued and outstanding shares of the Company's common stock. "We were pleased that our Board of Directors and our stockholders supported the reverse stock split in our efforts to continue restructuring the company," said Vince Vellardita, Chairman and Chief Executive Officer. "This action gives us the flexibility to continue to focus our efforts on expanding our revenue base, aggressively managing our cost structure and building ValCom as a player in the entertainment market." "We are confident that this action is in the long-term interests of our current shareholders, increases our appeal to a broad range of investors, and puts our company in a more advantageous position to consider future financing and help the company finalize some of its acquisition and complete the transactions of acquiring the broadcast television stations and film library as well as a theatre production company and further the growth of the Company, which could exceed $100 million in 2007 alone. We are very excited about future opportunities for ValCom and now that the reorganization of the Company is complete, we are anxious to execute our business plan and reward our loyal stockholders by increasing shareholder value," concluded Vellardita. The reverse stock split will become effective as of the opening of trading on the OTCBB Market on Monday, December 11, 2006, based upon a record date at the end of trading on the immediately preceding trading day. On the effective date, the company's common stock will begin trading on a reverse split basis under the trading symbol VLCO to reflect the post-split status of the stock. Upon effecting the reverse stock split, twenty shares of common stock will be converted into one share of common stock. Growth Plan Over the next several years, ValCom hopes to grow and expand its operations through internal growth and through acquisitions of other companies that compliment or provide synergies to the Company's existing businesses. "We are very excited about the opportunities that lie ahead for ValCom and now that the reorganization of the Company is complete, we are anxious to execute our business plan and reward our loyal stockholders by increasing shareholder value," concluded Vellardita. Based in Las Vegas, ValCom, Inc. is a diversified and vertically integrated, independent entertainment company. ValCom, Inc. creates and operates full-service facilities that accommodate film, television and commercial productions with four divisions comprised of: studio, film and television; live theater; and broadcast television. ValCom's clientele list consists of majors such as MGM MGM in full Metro-Goldwyn-Mayer, Inc. U.S. corporation and film studio. It was formed when the film distributor Marcus Loew, who bought Metro Pictures in 1920, merged it with the Goldwyn production company in 1924 and with Louis B. Mayer Pictures in 1925. , Paramount Pictures, ABC ABC in full American Broadcasting Co. Major U.S. television network. It began when the expanding national radio network NBC split into the separate Red and Blue networks in 1928. , CBS (Cell Broadcast Service) See cell broadcast. , Sony, NBC NBC in full National Broadcasting Co. Major U.S. commercial broadcasting company. It was formed in 1926 by RCA Corp., General Electric Co. (GE), and Westinghouse and was the first U.S. company to operate a broadcast network. , HGTV HGTV Home and Garden Television , D.I.V., History Channel, Discovery, Food Network, Sony Pictures T.V., PAX, MTV MTV in full Music Television U.S. cable television network, established in 1980 to present videos of musicians and singers performing new rock music. MTV won a wide following among rock-music fans worldwide and greatly affected the popular-music business. , Disney Channel, HBO Hyperbaric oxygen therapy (HBO) A form of oxygen therapy in which the patient breathes oxygen in a pressurized chamber. Mentioned in: Ozone Therapy , NBC, Sci-Fi, GSN GSN Game Show Network GSN GCOS Surface Network GSN Gelsolin GSN Global Seismic Network GSN Government Security News GSN Gigabyte System Network (CERN) GSN GPRS Support Node (3GPP) , Comedy Central, VH-1, FOX Television, Lifetime. The company web site: http://www.valcom.tv. Cautionary Statement Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the actual results of the company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "belief," "expects," "intends," "anticipates," "will," or "plans" to be uncertain and forward looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the company's reports and registration statements filed with the Securities and Exchange Commission. |
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