What the company has done today is increase everyone investors stake in the company.
I think investors will react positively to this news on Thursday and bid up the stock.
CLEARWATER, FL, Nov 17, 2010 (MARKETWIRE via COMTEX) -- ValCom, Inc. (OTCBB: VLCO) announced today that the company has retired twenty million shares of common stock. ValCom retired the shares effective November 15, 2010. The shares were issued as restricted shares in anticipation of a private financing that never took effect. The certificate for these shares was never out of the personal control of ValCom management. The certificate for these shares was forwarded by overnight courier to the transfer agent. The transfer agent has already retired the shares and has placed them back in the company treasury. "I am excited to return these shares to the company's treasury stock as we're on a mission to clean up our balance sheet before the end of the year," stated Vince Vellardita, President and CEO of ValCom. "I'm committed to the growth of this company and enhancing shareholder value."
ValCom recently announced it is partnering with United Country US-TV Auctions for a televised real estate auction that will take place on Saturday, November 20th. For more information on this event visit: www.ustvauctions.com. The company will also be issuing announcements related to new major market distribution for its My Family TV television network. For more information on My Family TV, visit www.myfamilytv.tv.
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 studio and rental, television and film, television broadcasting, 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/.
Forward-Looking Statements From time to time, the company may issue forward-looking statements, which involve risks and uncertainties. This statement may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as actual results could differ and any forward-looking statements should be considered accordingly.
Investor Relations Ingrid Clavijo Ph (727) 953-9778
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