CLEARWATER, Fla., Sept. 2, 2011 /PRNewswire/ -- ValCom, Inc. (VLCO.PK) released the following message to its shareholders from the company's Chairman/CEO, Vince Vellardita.
TO ALL VALCOM INVESTORS:
Thank you for your support in ValCom! I wanted to take this opportunity to let our shareholders know that we appreciate the confidence you have shown in the company. It is our number one goal to create shareholder value and maximize your investment in ValCom.
We've received some questions over the past couple of weeks from shareholders pertaining to the status of the company. I want to reassure you that I remain in my role as Chairman/CEO and that things are business as usual at ValCom. We are continuing to monetize ValCom's film and audio library and we are continuing the growth of My Family TV, our television network.I've been with the company for over 12 years. I have invested my heart, soul, and everything I own in the company. I am essentially married to ValCom, and I'm 100% committed to the growth and success of the business. I have experienced all the ups and downs of ValCom. When a billion dollar hedge fund put the company in bankruptcy, I was able to emerge from bankruptcy, pay all creditors 100% on the dollar, and win a case against the fund in the supreme appellate court where ValCom was rewarded a high 6 figure settlement. When ValCom's studio operation business was decimated by the writer's strike and reality TV, I was able to retool the company's business model to focus on distribution, production and network television. I had the vision to acquire a small television network, rebrand the network to My Family TV, pay it off in just 2 years, and build equity in the network. Over the past 12 years we've been able to acquire the content to establish a library with an evaluation of over $100 million dollars. Through all this I've battled and survived stage 4 cancer and have lost 4 close family members, all the while remaining committed to the success of ValCom. We're extremely excited about what is happening in the company. Over the past 9 months, we have reduced the company debt, increased our assets, and have built our overall business. We're optimistic that the company will continue its pattern of growth. We're adding new management with individuals who bring valuable insight to the company through their experience in business, banking, and finance. Although certain investors and certain parties would like me removed, their attempts to date have been legally invalid according to Delaware law. I am fully committed to our shareholders and wanted to reinforce my appreciation of your continued support.