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See my post 13548.
TP
Nag..I think there were a couple messages of yours that addressed both Pacal and me. I did not mean to imply that YOU were happy with the way things have transpired. Nor do I think anybody is happy. My point was that this was not completely unexpected based upon Valcom's recent history of dubious PR's and lack of revenue and profits when they have reported numbers (all of which were unaudited). The Manning et al faction has only been around long enough for two 10-Q's, the periods ending 3/31/11 and 6/30/11. Being that Vince is the guy that supplied the accountant with all the information regarding numbers, it's VV that's on the hook. Now if VV decides to modify his story and say that he received input from Manning et al on exactly what to report, then it becomes an even more interesting tale.
<I know that there are no financials, so how can you say that I am not happy about this power struggle happening at VLCO[img][/img]>
Will that become Vince's defense? That he was forced to go along with the overinflation of library assets in order to increase the stock price of the company? That he received bad advice?
Since none of the insiders sold any of their stock (that we know of), none of them personally profited (so far).
< when in
fact Manning set the catalogue price~ and influenced and edited the appraisals> ----this is in reference to the antique and stamp business and not Valcom.
Good find.
That may explain the two week break in their concert schedule in the later half of April.
I'm sure both sides will be issuing PR's soon enough.
Nag,
The point is there has been no 10-K for the year ending 9/30/11. Then no 10-Q for the quarter ending 12/31/11. And when the date comes due for the quarter ending 3/31/12, I will expect there will be no filing.
The period ending 6/30/11 is the last date for any known financial results. Even those results seem to be in question as they include the "alledged" overinflation of library assets.
I think I proved my point about the lack of operating results.
Message board sentiment. Are you as giddy about this company as you were one year ago?
Um, no. Vince has done as crappy a job this year as he did the previous year. The statement was about lack of operating results.
Positive message board sentiment last April was running near all time highs because of an anticipated release of library valuations. The sentiment is completely opposite one year later.
Valcom has consistently done one thing well. Disappoint investors expecting real results.
<So you agree that Vince has done well?>
The only aspect of their business that seems to be running is MyFamilyTV. Most revenues and cash flow coming from this source. All other projects most likely on hold or never started.
Library has some value but why deal with Valcom if you don't know who is in charge? I can only imagine the long list of vendors and maybe employees waiting to get paid. It's possible that at one time shares were used to make up for lack of cash but IMO that avenue has dried up as well.
One big concern should be IF Solomed got the 50 million shares and then tries to sell it. Think of the mess IF those shares are subsequently ruled invalid and they had no right to dispose of them.
You have two groups that are acting independently from one another. One makes SEC filings, one does not. One operates out of NJ,the other out FL. They share the same assets, sometimes the same vision, but apparently not the same desire.
A 180 degree turnaround from this time last year in message board sentiment. A leopard never changes it's spots. Valcom, the company, has not disappointed investors with it's lack of operating results again this past year.
I will throw out a theory that this arrangement started out as plan for Manning et al to reverse merge Stonehenge Telecom (Harrington & Willemsen's company) into Valcom to obtain a public listing. VV may have been on board in the beginning but perhaps he got cold feet and backed away or tried to change the terms of the deal.
Just a WAG on my part.
From what I saw of the shareholder letter, this is correct. There was a line for shareholder name, signature, title, date, and total number of Valcom shares owned.
Nowhere on the form was preprinted the actual amount of shares owned. It seemed that the transfer agent knew the name and address of each shareholder but not how many shares they owned. My WAG is that VV put this "proxy" out for several purposes. One, to find out who owned large blocks of shares. Two, it allowed anyone to write any amount of shares on that line, whether they owned them or not. If not verified by someone, these extra shares theoretically could count in the vote. Three,as written on this board, some shareholders did not receive this proxy. How many of the German shareholders received anything? Would VV be willing to shell out the cost of postage to Germany..lol? Four, the notice AND the proxy contained incorrect information regarding the total number of shares Valcom shall have authority to issue. Both mention 1,000,000 shares which VV later changed to 581,000,000 AFTER the "vote" was tallied. The message board members contact Ingrid several times and she reported that VV told her to tell the shareholders that the 1,000,000 share number was correct and there was no typo. Five, the proxy was not registered with the SEC.
I could probably go on and on.
It appears Taylor Capitol with a NJ phone number was hired by VV to replace Ingrid.
Harrington is using Sylvana Manning as his IR contact, also with NJ phone numbers.
So if Vince is in charge, why would he allow any items to be moved from FL to NJ?
<On April 19th and 20th, members of the board Silvana Manning and Chairman Patrick Willemsen, along with professional staff, traveled to Indian Rocks Beach, Florida where ValCom's prior headquarters were based, to oversee the inventory and packaging of ValCom records, assets and other materials. On April 22nd all inventory arrived at the new company headquarters>.
Both Pacal and I are the buyers IMO....how's that for a scoop....lol.
<Love how numbers are being delayed. doubt in share holders and someone buying and scooping them all up . tell me tiger you have anything to do with that...>
I would agree with you IF these were restricted shares. None of the 10-Q's mentioned this though...if you can believe the 10-Q's.
However, if you go back on this board to the Dec 2010, you will find many posts saying that someone was buying 10 million blocks on the open market in the 1.4 cent range. Manning et al filed their position within the next few months. It sure doesn't sound like these were restricted shares that they couldn't sell.
<The Shares most likely are available for trade now. Thats how these go>
This doesn't make a shred of sense.
Why would Manning et al want to sell off shares at any price right now when they had ample opportunity to sell between .05 and .14 for many months in 2011?
<But than a GREEDY self interest comes along makes an offer to help put money into it and soon they become the ones trying to take over the company to sell off shares at any price since they have NOTHING INVESTED But a Promise and have Millions of shares to dump>
Pacal..the ball is in your court..lol..
Seriously its going to be like this for sometime....the end result is that one party will have to buyout the other....and the common shareholders (like on this board) will pushed aside and screwed by both sides.
This saga will continue to be a battle of the two sides....the message board will bounce back and forth with emotions depending on who releases the latest PR or filing.
Court or no court...this company appears to be stuck in the mud because they can't agree on anything since they are all on the BOD together. Funding for projects just won't happen until they agree.
I've got a novel idea. Why doesn't each one of them do their own projects with their own funding and have it contribute towards the company's results? Since both sides own a ton of shares, they both win if the stock price goes up.
So what do you make of this. See my post 13459?
Two very imporatant items not talked about yet on the new PR.
1) Looks like Ingrid is out as Investor Relations. The phone number listed for Taylor Capitol is a NJ phone number which happens to be where Manning et al reside.
I wonder whats up with that?
---------------
Why would you have a NJ Shuffle phone number on a VV press release?
<For more information, please visit the company's website at www.valcom.tv or contact Investor Relations at (973) 351-3868>
Also what's the boards feeling about the sudden correction of the oustanding share authorization when it was repeatedly denied that there was any typo in the shareholder letter and proxy?
Thank you Funky.
TP
Sounds like he shared inside information with you.
Maybe the SEC folks want to have a little talk with you as well as all members of the BOD..lol.
<Go by and see Vince and Company and have Lunch, I am sure he would be happy to share with you everything that he shared with me. Then you can feel fairly treated.>
You have the WRONG company Pacal...
It's Taylor CapitOL, not Taylor CapitAL. Big difference as i have already explained in prior posts.
Funky...you made this post on April 11:
<It appears from the docket filings today that The Court ruled in favor of the shareholders having their say via the democratic process on who the next CEO and Board will comprise of>
Are you able to post this particular filing in whole?
Thanks,
TP
Yes please post the bylaws Funky...
Vulcan...not sure what you are celebrating...it looks like it's back to square one for both sides...appeals will probably be made.
Is Vince going to be releasing all his backlogged promises within the next few weeks?..He's had plenty of time to work on them...when nothing happens will Pacal blame the BOD of which Vince is a part of?
Show me results rather than empty PR's. That goes for both sides.
I'd love to see these Company Bylaws.
Both BOD's seem to interpret them in different ways.
Pacal...tell us the positive things Vince has done for the company in the past year. While you are having dinner with him, please tell him to put out he 10-K he has been promising. Let's see what he delivered based upon his promises.
Good for Vince. He can continue down the path to nowhere with his empty promises.
Where's the MJ movie Vince? All those DVD's you promised? The fifty iTunes releases per year, etc, etc, etc. Has he finally figured out the Foreclosed Auction market yet?
You all know what you get with VV. Nothing...zippo. I take that back...he does write good PR's that mean nothing.
You don't know what you get with Manning et al. Maybe nothing as well but I would bet it would far more than what VV has given you in the last year +.
VV should have the 10-K out any day now. He's been promising it since December. If everything is settled, let's see it.
Fun, fun, fun.
TP
Nag,
It CapitOl, not CapitAl.
So a quick check of Taylor Capitol brings up this. It's fours old FWIW:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=32572497
Whomever hired this guy didn't do his background checking.
Here is his LinkedIn site:
http://www.linkedin.com/pub/stephen-taylor/11/a20/293
Sounds like has experience in pumping, err I mean aggressively promoting small public companies.
TP
Two very imporatant items not talked about yet on the new PR.
1) Looks like Ingrid is out as Investor Relations. The phone number listed for Taylor Capitol is a NJ phone number which happens to be where Manning et al reside.
I wonder whats up with that?
2) Look at the number of shares Valcom shall have the authority to issue: 581,000,000 .
Remember we had this discussion when the shareholder letter (and some other PR) said 1,000,000 shares and nobody could figure out what they meant , maybe meaning 1 billion shares. Ingrid was contacted and she replied (after she spoke to Vince) that 1,000,000 was indeed the correct number. There was no typo.
Now we find out the true story was 581,000,000 . Another sloppy job on VV's part in his shareholder letter. There is ALWAYS something missing or wrong in his correspondence.
The ironic part is that VV is still on the Manning et al board so they at least still want him.
Looks like this will be in court for a long long time.
Somebody is at least thinking ahead.
VV hardly did anything over the past year. We don't know what was true and what wasn't in his pr's.
Just maybe the other guys CAN do something. We'll have to wait and see.
Again, this was public knowledge almost six months BEFORE Vince appointed S. Manning to the BOD. Wasn't a problem then, was it?
<Seems the husband of Mrs Manning has history and should be a part of this board information.>
How do you define a good company? It was always embroiled in lawsuits due to events that always came up after deals were agreed upon. To say that Vince is completely innocent in most of those lawsuits is very naive. Over what time is the past three years has this company ever smelled like a rose? Was it the day that they announced the library valuation because that was the same day they announced Manning et al as added to the BOD.
<But my point has always been VALCOM was and I stress was a GOOD Company as a whole prior to the New Jersey Shuffle and this pure CONTEMPT IMO of the Courts. The people that were handling the day to day have been Up Front and Good folks, This is a Penny Stock and we all know they stink at some point and other times smell like Rose's Now IMO This stinks..>
Pacal....I agree with you on TVL if that's any consolation.
VLCO...we don't agree on.
TP
News flash Pacal.... VLCO already was a POS Pinky.
<Now VLCO will be just another POS Pinky>
Can YOU prove that?
<So we have the wife of a crook in the postion of Secretary/Treasurer acting on behalf of her better half>
Using the Greg Manning defense NOW is ridiculous since this was public knowledge BEFORE the Mannings et al were appointed by Vince to the BOD. Where were the claims on this board before VV decided to make a desparate issue out of it?
TP
I really suggest for you review the share price at the point the Mannings et al got involved in VLCO. Dec. 1, 2010 might be a good starting point according to SEC filings.
I think most of them got in around .015 . The stock got up to .14 (completely unrealistic based upon their lack of results)while they were on the BOD before falling back to .03 .
So I don't understand your logic that the Mannings et al are responsible for the stock tanking. I guess they were also responsible for the stock going from .015 to .14 right?
You are barking up the wrong tree with this argument.
Pacal said:
<The REAL BOTTOM LINE is PPS. And with that being said, SINCE the Mannings et al come along this has tanked and Vince has brought it to here. Now thats my opinion>
I do recognize the irony in this whole situation.
I criticized for VV's handling of Valcom's business for a year. Based upon his filings and the fluff PR's I recognized that nothing real was happening at this company except for lawsuits.
Apparently the Manning et al, whom Vince personally appointed as Directors, recognized it as well as they had front row seats to it. It looks like they made suggestions and VV declared that he would make it happen. And they waited. And nothing happened. And it looks like VV got sick of being held accountable and negotiatied a deal behind his own BOD's back.
Fast forward to last week and I'm now being criticized for being in the Manning et al camp. "The new group will destroy the company" is what some are saying. I don't know the new group...just what I read on the internet. Personally I think the company was almost fatally wounded by VV's actions and non-actions as documented by SEC filings and his own PR that essentially amounted to a lot of false hope.
The Manning et al group may wind up not being any better but I don't think they can be any worse than the previous regime. It's going to take at least 6-12 months IMO to repair all the damage that has been left behind under Mr. Vellardita's reign. I'm sure that some on this board will claim that any bad PR coming out for this point forward is soley because the new management is crooked or incompetent. They will be the ones that have to bear the brunt of shareholder anger because of mismanagement of the guy before them.
Go ahead and criticize Manning et al all you want for all I care. But at least give them a chance like you gave Vince.
TP
But you were betting that there were royalties when Vince announced it one year ago.
So was Vince's announcement at the shareholder meeting last May (2011) another fabrication of his? Something that truly didn't exist?
You can't have it both ways.
<I am willing to bet there are NO Royalties to be collected at this time,>
The Mannings et al only came in on Dec 2010.
You're telling us that Valcom was hugely profitable in the couple years before then? The filings at the time surely don't say that.
<And those who Know Vince will remember that he had The company at a huge profit years ago before the mannings et all started this crapola. Gezz was such a good thing!>
Vince announced this a year ago (without the Microhits mention)and nothing came out of it.
Willemsen and Harrington had to reannounce it so apparently there is something there but they at least have a plan on how to recoup royalties. Whether they are succesful is anyone guess right now. I think that if anyone steals copyrighted material they are also going to be very hard to collect from and lawsuits would likely have to be filed or some smaller negotiated settlement (vs amount owed) would be the most likely outcome.
<we recently entered into a contract with Anthony Barlo, CEO of Microhits, to assist in collecting royalties for the media library on a commission basis >
Not a fan of there music either but I am a fan of their self promotion. In two years they gone from playing eight shows in a year to 40 shows so far this year all over the world. They get themselves on TV shows and their geographic popularity in the midwest within the country music niche is building them quite a fan base. I wouldn't be surprised if within two years they are mainstream country stars.
That's why it's important to Valcom to get in on the ground floor with them. They won't be able to afford them in two years.
Just to further clarify the timeline on the appraisal...the first mention in filings was the 12/31/10 10-Q released on 2/24/11...with language stating that "subsequent to 12/31/10 filing, an appraisal was started..."
So that seems to fit with Willemsen's timeline.
Williamsen's PR also makes no mention of The Roys deal...which appears to be on hold. IMO, that's one project they should give a fast track green light to.
The forensic accounting of VV reign's may never be figured out completely. I doubt that the new board will get ALL of Valcom's records that were in Florida and Tenneessee.
Wait and see time.
Smite may even get payment this year.
Ronnie...if you care to look at my past posts you'll find that I was not an advocate for Vince...to say the least...
All I'm saying is that the inference that GM is running the show at Valcom is completely unfounded..at this time...
<who cares, he has contacts, he knows how to build a
business from nothing to massively successful.
What does VV know ? how to ripoff the innocent ?>
Given Greg's recent run in's with the SEC, I doubt that he would push the envelope on jail time over a silly penny stock.
<Remember Silvana's husband is Greg Manning>