Valcom Inc (fka VLCO)

[tigerpac]

This is a post from the Yahoo board from Friday. It's part of a thread that was started last September. It has not been verified but is based upon "facts" researched by the author.

I am just the messenger. If true, there are some ugly allegations. The only thing I can verify is the Santa Claus part is true.

This should give us something to talk about while waiting for the 10-K.

http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_V/threadview?m=tm&bn=39464&tid=2393&mid=2842&tof=1&rt=2&frt=2&off=1

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took a while for me to put all the pieces together on this guy, Dale Smith, the appraiser for the Valcom video and audio assets. Remember I said he was probably only a guy working out of his bedroom?

Well,

Here's the story:

Dale Smith is Santa Claus. That is his only regular job. He plays a mall Santa Claus. I tried to contact him at the address on his website for DOS Broadcast & Appraisal at 1400 Commerce Blvd, in Anniston, Al. I spoke to a lovely receptionist who told me he no longer has office space there because his business failed in December, while he was out of town playing Santa Claus. I said the appraisal business and she said no, A2D Preservation. I didn't know about that business. I found the A2Dpreservation.com website and it still shows the 1400 Commerce Blvd address.

Smith was trying to cash in on both ends at Valcom. He was trying to get a deal with Valcom to convert the tape assets to digital format. Smith likes to brag about this deal from what the receptionist said. He tells everybody about his making a killing on trading Valcom stock while he was doing the evaluation. If he was trading on the information he was creating, why wouldn't he inflate the value to make his stock price rise. He did put out a number of glowing press releases at that time. And the stock price did rise on what he and his accountant buddy told the BOD in May. Someone should be looking at his stock trades around that time.

Well I dug a little deeper based on the conversation with the receptionist.

Seems Mr. Smith may have violated SEC regulations in the evaluation of Valcom assets. Smith released the following reassessment on the video library value as this press release says:

http://www.levelstock.com/valcom-pleased...

At the same time he was trying to persuade Valcom CEO to allow him to do digital conversion of the audio assets. So for pumping up the value he expected to be rewarded by giving a contract to his other company. Smith was bragging locally that he was going to get upwards of $300,000 to make the digital files of the Platters stuff.

Well, it didn't happen. Smith's company blew up because he tried to cheat people in the building, and had to go play Santa Claus.

So I think at this point there should be an investigation into Smith's actions, even looking at his stock trades associated with press releases around the time he and his team presented to the Valcom BOD in May.

I would think that Valcom might want to revisit the video and audio value pretty quick to insure the company's reputation is not hurt by someone executing a fraud for his own gain at Valcom shareholders expense.