ValCom, Inc. (PINKSHEETS: VLCO) reported a big gain in quarterly
earnings when the media and entertainment company disclosed the
financial results for the 2nd quarter of its financial year.
A key statistic in the 2nd quarter 2011 financial data is the
company's total assets which grew over 200% from September 2010 to
over $24 million. The increase is primarily due to the company's
audio and film library and growth within its My Family TV
television network (www.myfamilytv.tv).
"ValCom is starting to heat up!" stated Vince Vellardita,
President and CEO of ValCom. "Our financial results are starting to
show what our shareholders have waited for. This company has been
dramatically undervalued as we continue to execute our business
plan to increase shareholder value."
The 2nd quarter financial results showed a $.33 earnings per
share, meaning that ValCom's earnings per share are 15-times where
the stock is currently trading.
ValCom expects a great surge in revenues from its content
library. The company has over 6,000 video and audio titles in the
library. In 1st quarter 2011, an appraisal was conducted by DOS
Broadcast and Appraisal Services to determine an accurate value of
the content owned by the company. DOS has estimated that the value
of the library exceeds $128 million. The library contains rare and
unique video and audio content including 13 master recordings of
Elvis Presley with The Platters; masters from Ike & Tina Turner
before they were stars; and a very rare 3 Stooges film. The library
also contains films starring the top names in Hollywood like Denzel
Washington, Anthony Hopkins, Robert DiNiro, Jodi Foster, Russell
Crowe and Mel Gibson.
In addition to utilizing the content to leverage the growth of
My Family TV, the content can be licensed via various distribution
channels including broadcast stations, cable networks, video on
demand, and internet streaming. There is major revenue potential
due to the overall expansion of new media and the growth of the
international marketplace. For example, Netflix recently did a 5
year license of New Line Cinema's library of 250 titles for $750
million. ValCom has started the process of licensing the content in
the syndication marketplace and has already lined up buyers.
Additional information pertaining to ValCom's quarterly results
can be found in the company's 10-Q filing.
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 (My Family TV Network), 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.
ValCom, Inc.
Consolidated Statements of Operations
(Unaudited)
For the three For the three For the six For the six
months ended months ended months ended months ended
March 31, March 31, March 31, March 31,
2011 2010 2011 2010
REVENUES
Advertising $ 39,261 $ -- $ 71,631 $ --
Programming 26,300 -- 117,741 --
Royalties -- -- 125,000 --
Ticket sales -- -- 89,328 --
Miscellaneous 83,638 170,971 106,349 362,156
------------- ------------- ------------ ------------
Total revenues 149,199 170,971 510,049 362,156
Expenses
Depreciation and
amortization 31,292 48,604 62,584 97,276
General and
administrative 285,899 1,105,878 904,294 1,593,003
------------- ------------- ------------ ------------
Total expenses 317,191 1,154,482 966,878 1,690,279
------------- ------------- ------------ ------------
Loss before other
income
(expenses) (167,992) (983,511) (456,829) (1,328,123)
Other income
(expenses)
Interest expense (18,751) (43,218) (37,431) (49,218)
Gain on
derivative
liabilities -- 84,709 -- 197,056
Film library
inventory
adjustment 16,621,655 (132,490) 16,621,655 (179,328)
------------- ------------- ------------ ------------
Other expenses --
------------- ------------- ------------ ------------
Total other
income
(expenses) 16,602,904 (90,999) 16,584,224 (31,490)
Net gain (loss) 16,434,912 (1,074,510) 16,127,395 (1,359,613)
------------- ------------- ------------ ------------
Weighted average
shares
outstanding 50,138,158 40,434,158 79,850,072 40,970,971
------------- ------------- ------------ ------------
LOSS PER SHARE --
basic and
diluted $ 0.33 $ (0.03) $ 0.21 $ (0.03)
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Investor Relations: Ingrid Clavijo 727/953-9778