Penny,
I think there might be another explanation, ongoing negotiations. I know it sounds impossible, but sometimes partnerships, acquisitions, etc. virtually take years to consummate, and there are confidentiallity agreements in place preventing further discussions.
I don't know how long discussions have been going on with Valley Design, but I suspect that no real details can be discussed until they're consummated, or abandoned. It's very possible that the newly issued share are part of what's happening there, and that's why they cannot be discussed.
With the new information available on the website, it appears that at least part of an agreement has been made, let's hope the remainder is concluded soon.
Gary