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May 25, 2012 /PRNewswire/ -- A spokesperson for ValCom, Inc. (Pink Sheets: VLCO) reported that over the past 30 days, since the relocation of ValCom's corporate headquarters to offices in
Boonton Township, New Jersey, the media library consisting of over 1,000 movies, 5,000 songs and hundreds of television episodes, has been successfully moved to the
New Jersey corporate headquarters from locations in
Tim Harrington, CEO of ValCom, stated "Now that we have completed the transfer of the library to
New Jersey we are in the process of organizing and consolidating the inventory as well as identifying all movies, audio and television series master tapes that need to be digitized for marketing and monetizing." Mr. Harrington continued, "We are also in the process of interviewing potential accounting personnel and finance officers and expect to make a decision as to a new CFO in the coming weeks. In addition, we have been interviewing accounting firms to identify the appropriate professionals to assist with auditing ValCom's financial statements. We recognize the importance of having this addressed promptly and efficiently."
Patrick Willemsen, Chairman of the Board commented, "While there are many endeavors that need to be undertaken over the coming months to turn this company around, we are focused on implementing actions which will lead us towards regulatory and financial compliance. To assist with this, TRI-PARTNERS LLC has committed to the additional financing contemplated under their
June 2011 agreement with ValCom; that financing is now back on track. We intend to keep shareholders advised of any significant material developments and achievements as we move forward."
About ValCom, Inc.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. For more information, please visit the company's website atwww.valcom.tv