UNITED STATES

                      SECURITIES AND EXCHANGE COMMISSION

                            Washington, D.C., 20549


                                   FORM 10-Q
				   ----------
                                   (Mark one)



          [X] Quarterly Report Pursuant to Section 13 or 15(d) of the

                        Securities Exchange Act of 1934

                FOR THE FISCAL QUARTER ENDED MARCH 31, 2008

                        Commission file Number 0-28416

                                       or

         [ ] Transition Report Pursuant to Section 13 or 15(d) of the

                        Securities Exchange Act of 1934



                       		  VALCOM, INC.
	    --------------------------------------------------------
            (Name of small business issuer specified in its charter)




          Delaware                                         58-1700840
          --------                                         ----------
(State  or  other  jurisdiction  of                 (IRS  Employer
    incorporation  or  organization)                Identification  Number)


	    2113A Gulf Boulevard, Indian Rocks Beach, Florida 33785
	    -------------------------------------------------------
 	      (Address of Principal executive offices) (Zip code)

				 (727) 953 - 9778
			     -------------------------
 			     Issuer's telephone number

   Securities registered pursuant to 12(b) of the Act: None Securities to be

               registered pursuant to Section 12(g) of the Act:

                         COMMON STOCK $0.001 PAR VALUE
			 -----------------------------
                                (Title of Class)

Indicate  by  check  mark  whether  the  registrant  (1)  has filed all reports
required to be filed by Section 13 or 15(d) of the Securities  Exchange  Act of
1934  during  the  preceding  12  months  (or  for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.

YES [X] NO [ ]

As of October 16th, 2008 the issuer had  22,774,369  shares  of  its $0.001 par
value common stock outstanding.

UNAUDITED INTERIM FINANCIAL STATEMENTS

The  accompanying  financial  statements  are  unaudited  and  are prepared  in
accordance with rules and regulations of the Securities and Exchange Commission
for interim quarterly reporting. Accordingly, these financial statements do not
include   all   disclosures   required   under  generally  accepted  accounting
principles.

In  the  opinion  of  management,  the  accompanying   consolidated   financial
statements  contain  all  adjustments  (which  include  only  normal  recurring
adjustments) necessary to present fairly the financial position of ValCom, Inc.
and  subsidiaries as of March 31, 2008 and the results of their operations  and
their  cash flows for the three months ended March 31, 2008. These consolidated
financial  statements  include  the accounts of ValCom, Inc. and its subsidiary
companies (together "the Company").  Results  for  the three months ended March
31,  2007, are not necessarily indicative of the operations,  which  may  occur
during the year ending September 30, 2007. Refer to the Company's Annual Report
on Form 10- K for the year ended September 30, 2007 for further information.

                                 VALCOM, INC.

                                   FORM 10-Q


                                                                        Page
PART I - FINANCIAL INFORMATION

Item 1.  Financial Statements						2
Item 2.  Management's Discussion and Analysis or Plan of Operation	9
Item 3.  Quantitative and Qualitative Market Risk			12
Item 4.  Controls and Procedures					12

PART II - OTHER INFORMATION

Item 1.  Legal Proceedings						13
Item 1A. Risk Factors							15
Item 2.  Unregistered Sales of Equity Securities and Use of Proceeds	15
Item 3.  Defaults Upon Senior Securities				15
Item 4.  Submission of Matters to a Vote of Security Holders		15
Item 5.  Other Information						15
Item 6.  Exhibits

SIGNATURES								16



                                    PART I

                             FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS


MOORE & ASSOCIATES, CHARTERED
ACCOUNTANTS AND ADVISORS
PCAOB REGISTERED



            REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM


TO THE BOARD OF DIRECTORS
VALCOM, INC.


We have reviewed the accompanying consolidated balance sheet of ValCom, Inc. as
of  June  30,  2008,  and  the  related  consolidated statements of operations,
stockholders' equity (deficit), and cash flows  for  the  three-month and nine-
month periods ended June 30, 2008 and 2007. These interim financial  statements
are the responsibility of the Corporation's management.

We conducted our review in accordance with the standards of the Public  Company
Accounting  Oversight  Board  (United  States).  A  review of interim financial
information consists of principally applying analytical  procedures  and making
inquiries of persons responsible for the financials and accounting matters.  It
is  substantially less in scope than an audit conducted in accordance with  the
standards of the Public Company Accounting Oversight Board (United States), the
objective  of  which  is  the  expression of an opinion regarding the financial
statements taken as a whole.  Accordingly, we do not express such an opinion.

Based on our review, we are not aware of any material modifications that should
be made to such consolidated financial  statements for them to be in conformity
with accounting principles generally accepted in the United States of America.

We have previously audited, in accordance  with standards of the Public Company
Accounting Oversight Board (United States),  the  balance sheet of ValCom, Inc.
as  of  September  30,  2007,  and  the  related  statements   of   operations,
stockholders'  equity  (deficit)  and  cash flows for the year then ended  (not
presented herein); and in our report dated  October  8,  2008,  we expressed an
unqualified   opinion  with  a  going  concern  paragraph  on  those  financial
statements. In  our  opinion,  the  information  set  forth in the accompanying
balance  sheet  as  of  September 30, 2007 is fairly stated,  in  all  material
respects, in relations to the balance sheet from which it has been derived.


/S/ MOORE & ASSOCIATES, CHARTERED
---------------------------------
Moore & Associates, Chartered
Las Vegas, Nevada
October 17, 2008



2675 S. JONES BLVD. SUITE 109, LAS VEGAS, NEVADA 89146
(702) 253-7499 FAX: (702)253-7501

<PAGE>	2


<TABLE>
<CAPTION>
<S> <C> <C>
                                                      VALCOM, INC.
                                                     Balance Sheets
                                                         ASSETS

                                                                                   March 31,    September 30,
                                                                                     2008           2007
										-------------- --------------
                                                                                  (unaudited)
CURRENT ASSETS

  Cash                                                                          $      213,728 $        5,926
  Accounts receivable, net                                                              54,604        173,328
  Prepaid expense                                                                       31,683              -
										-------------- --------------
	Total Current Assets           						       300,015        179,254
										-------------- --------------
FIXED ASSETS, net                                                                       88,690        101,360
										-------------- --------------
OTHER ASSETS
  Deposits                                                                             160,850        158,853
  Other assets                                                                       1,000,000      1,000,000
										-------------- --------------
	Total Other Assets          						     1,160,850      1,158,853
										-------------- --------------
	TOTAL ASSETS            						$    1,549,555 $    1,439,467
										============== ==============
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

CURRENT LIABILITIES

  Accounts payable and accrued expenses                                         $      833,359 $      906,974
  Accrued interest payable                                                             194,346        163,790
  Deferred income                                                                      265,000              -
  Due to related parties                                                             1,968,388      1,950,288
  Notes payable                                                                        691,153        641,153
										-------------- --------------
	Total Current Liabilities               				     3,952,246      3,662,205
										-------------- --------------
LONG-TERM LIABILITIES
  Notes payable                                                                              -              -

	Total Long-Term Liabilities						             -              -
										-------------- --------------
	TOTAL LIABILITIES            						     3,952,246      3,662,205
										-------------- --------------
STOCKHOLDERS' EQUITY (DEFICIT)

  Series B Preferred stock, 1,000,000 shares authorized
    at par value of $0.001, 38,000 shares issued and
    outstanding                                        					    38             38
  Series C Preferred stock, 25,000,000 shares authorized
    at par value of $0.001, 7,921,666 shares issued and
    outstanding                                  					 7,921          7,921
  Common stock, 250,000,000 shares authorized at par
    value of $0.001, 13,976,099 and  10,376,099 shares
    issued and outstanding, respectively                                                13,976         10,376
  Treasury stock, 35,000 shares                                                        (23,522)       (23,522)
  Additional paid-in capital                                                        15,258,139     15,081,739
  Accumulated deficit
                                                                                   (17,659,243)   (17,299,290)
										-------------- --------------
Total Stockholders'        							    (2,402,691)    (2,222,738)
Equity (Deficit)
										-------------- --------------
TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY (DEFICIT)      						$    1,549,555 $    1,439,467
										============== ==============


The accompanying notes are an integral part of these financial statements.


</TABLE>

<PAGE>	3

<TABLE>
<CAPTION>

<S> <C> <C>
                                                           VALCOM, INC.
                                                     Statements of Operations
                                                           (unaudited)




                                                              For the Three Months Ended    For the Six Months Ended
                                                                      March 31,                      March 31,
							    ---------------------------- ----------------------------
                                                                2008            2007         2008            2007
							    ------------    ------------ ------------	 ------------
REVENUES                                                    $    381,321    $    722,860 $    648,957    $    911,505
COST OF GOODS SOLD                                                 1,223               -        1,223               -
							    ------------    ------------ ------------	 ------------
GROSS MARGIN                                                     380,098         722,860      647,734         911,505

OPERATING EXPENSES

 Advertising and marketing                              	     772             887        1,313           6,739
 Depreciation expense                        			   6,335           6,335       12,670          12,670
 General and administrative                              	 298,579       1,310,400      963,148       1,798,391
							    ------------    ------------ ------------	 ------------
Total Operating Expenses               				 305,686       1,317,622      977,131       1,817,800
							    ------------    ------------ ------------	 ------------
LOSS FROM OPERATIONS                                              74,412        (594,762)    (329,397)       (906,295)
							    ------------    ------------ ------------	 ------------
OTHER INCOME (EXPENSE)

 Gain (loss) on sale of equipment                         	       -               -            -               -
 Interest expense                         			 (15,278)        (14,548)     (30,556)        (80,378)
 Other income                                    		       -             225            -             225
							    ------------    ------------ ------------	 ------------
TOTAL OTHER INCOME (EXPENSE)                                     (15,278)        (14,323)     (30,556)        (80,153)
							    ------------    ------------ ------------	 ------------

INCOME (LOSS) BEFORE                                              59,134       (609,085)    (359,953)       (986,448)
INCOME TAXES
INCOME TAX EXPENSE                                                     -               -            -               -
							    ------------    ------------ ------------	 ------------
NET INCOME (LOSS)                                           $     59,134    $   (609,085)$  (359,953)    $   (986,448)
							    ============    ============ ============	 ============
BASIC INCOME (LOSS) PER SHARE                               $       0.00    $      (0.14)$     (0.03)    $      (0.23)
							    ============    ============ ============	 ============
WEIGHTED AVERAGE NUMBER
  OF SHARES OUTSTANDING                                       13,976,099       4,319,417   12,776,099       4,308,781
							    ============    ============ ============	 ============



The accompanying notes are a integral part of these financials statements.

</TABLE>

<PAGE>	4

<TABLE>
<CAPTION>
<S> <C> <C>
                                                          VALCOM, INC.
                                          Statements of Stockholders' Equity (Deficit)
                                                          (unaudited)





				 Series B Preferred Stock	Series C Preferred Stock	Common Stock
				 ------------------------	------------------------	----------------------
				 Shares	    	   Amount	Shares	       	  Amount	Shares	        Amount
				 ------		   ------	----------	 -------	----------     -------

Balance, September 30, 2005	 38,000 	   $   38 	 9,267,416 	 $ 9,267 	 4,265,603     $ 4,266

Common stock issued for
  cash	 			      - 		- 		 - 	       - 	   770,725 	   771

Common stock issued for
  services	 		      - 		- 		 - 	       - 	 2,561,283 	 2,561

Common stock issued for
  debt	 			      - 		- 		 - 	       - 	 2,711,200 	 2,711

Preferred stock conversion	      - 		- 	(1,345,750)	  (1,346)	    67,288 	    67

Net loss for the year
  ended September 30, 2007	      - 		- 		 - 	       - 		 - 	     -
				 ------		   ------	----------	 -------	----------     -------
Balance, September 30, 2007	 38,000 	       38 	 7,921,666 	   7,921 	10,376,099 	10,376

Common stock issued for
  services	 		      - 		- 		 - 	       - 	 3,600,000 	 3,600

Net loss for the six months
  ended March 31, 2008	 	      - 		- 		 - 	       - 		 - 	     -
				 ------		   ------	----------	 -------	----------     -------
Balance, March 31, 2008	 	 38,000 	   $   38 	 7,921,666 	 $ 7,921 	13,976,099     $13,976
				 ======		   ======	==========	 =======	==========     =======



The accompanying notes are an integral part of these financial statements.


</TABLE>

<PAGE>	5

<TABLE>
<CAPTION>
<S> <C> <C>
                                                                  VALCOM, INC.
                                                  Statements of Stockholders' Equity (Deficit)
                                                                   (unaudited)
								   (Continued)



												Total
	 						Additional				Stockholders'
					Treasury	Paid-In		Accumulated		Equity
					Stock		Capital		Deficit			(Deficit)
					---------	------------	-------------		------------

Balance, September 30, 2005	 	$ (23,522)	$ 14,097,995 	$ (15,293,188)		$ (1,205,144)

Common stock issued for
  cash		 				- 	     130,715 		    - 		     131,486

Common stock issued for
  services		 			- 	     185,447 		    - 		     188,008

Common stock issued for
  debt		 				- 	     666,303 		    - 		     669,014

Preferred stock conversion		 	- 	       1,279 		    - 			   -

Net loss for the year
  ended September 30, 2007		 	- 		   - 	   (2,006,102)		  (2,006,102)
					---------	------------	-------------		------------
Balance, September 30, 2007		  (23,522)	  15,081,739 	  (17,299,290)		  (2,222,738)

Common stock issued for
  services		 			- 	     176,400 		    - 		     180,000

Net loss for the six months
  ended March 31, 2008		 		- 		   - 	     (359,953)		    (359,953)
					---------	------------	-------------		------------
Balance, March 31, 2008			$ (23,522)	$ 15,258,139 	$ (17,659,243)		$ (2,402,691)
					=========	============	=============		============



The accompanying notes are an integral part of these financial statements.


</TABLE>


<PAGE>	6

<TABLE>
<CAPTION>
<S>	<C>	<C>
		                       VALCOM, INC.
                                 Statements of Cash Flows
                                       (unaudited)


                                                                               For the Six Months Ended
                                                                                       March 31,
									      -------------------------
                                                                                  2008           2007
									      ----------     ----------
OPERATING ACTIVITES

   Net loss                                                                   $ (359,953)    $ (986,448)
   Adjustments to reconcile net loss
     to net cash used by operating
     activities:
       Depreciation expense                        				  12,670         12,670
       Common stock issued for services            				 180,000         69,787
       Impairment of asset                               			       -              -
    Changes in operating assets and liabilities
       (Increase) decrease in accounts receivable      				 118,724        (64,354)
       (Increase) decrease in prepaid expenses    				 (33,680)         1,258
       Increase (decrease) in accrued interest payable   			  30,556         80,379
       Increase (decrease) in accounts payable    				 (73,615)       561,508
       Increase (decrease) in deferred income      				 265,000              -
									      ----------     ----------
  Net Cash Used in Operating Activities       					 139,702       (325,200)
									      ----------     ----------
INVESTING ACTIVITIES

    Proceeds from sale of equipment                                                    -              -
    Purchase of property and equipment                                                 -              -
									      ----------     ----------
  Net Cash Used in Investing Activities             				       -              -
									      ----------     ----------
FINANCING ACTIVITIES

     Proceeds from preferred and common stock                                          -         66,486
     Proceeds from note payable                                                   68,100        225,000
     Repayment of notes payable                                                        -              -
									      ----------     ----------
  Net Cash Provided by Financing Activities             			  68,100        291,486
									      ----------     ----------
  NET DECREASE IN CASH                        					 207,802       (33,714)

  CASH AT BEGINNING OF YEAR                     				   5,926         71,612
									      ----------     ----------
  CASH AT END OF YEAR                     				      $  213,728     $   37,898
									      ==========     ==========
SUPPLEMENTAL DISCLOSURES OF

  CASH FLOW INFORMATION

  CASH PAID FOR:
      Interest                                				      $        -     $        -
      Income Taxes                            				      $        -     $        -

  NON CASH FINANCING ACTIVITIES:
      Common stock issued for debt            				      $        -     $  482,939

The accompanying notes are an integral part of these financial statements.

</TABLE>

<PAGE>	7


                                 VALCOM, INC.
                         (A Development Stage Company)
                       Notes to the Financial Statements



NOTE 1 - CONDENSED FINANCIAL STATEMENTS

The accompanying financial statements have been prepared by the Company without
audit.   In  the  opinion  of  management,  all adjustments (which include only
normal  recurring  adjustments)  necessary  to  present  fairly  the  financial
position, results of operations and cash flows at  March  31,  2008 and for all
periods presented have been made.

Certain  information  and  footnote disclosures normally included in  financial
statements prepared in accordance with accounting principles generally accepted
in the United States of America have been condensed or omitted. It is suggested
that these condensed financial  statements  be  read  in  conjunction  with the
financial statements and notes thereto included in the Company's September  30,
2007  audited  financial  statements.  The results of operations for the period
ended March 31, 2008 are not  necessarily  indicative  of the operating results
for the full years.

NOTE 2 - GOING CONCERN

The  Company's  financial  statements  are  prepared  using generally  accepted
accounting  principles  applicable  to a going concern which  contemplates  the
realization of assets and liquidation  of  liabilities  in the normal course of
business.   The  Company  has  had  no revenues and has generated  losses  from
operations.

In order to continue as a going concern  and  achieve  a  profitable  level  of
operations,  the  Company  will  need,  among  other things, additional capital
resources and to develop a consistent source of  revenues.   Management's plans
include of investing in and developing all types of businesses  related  to the
entertainment industry.

The ability of the Company to continue as a going concern is dependent upon its
ability  to  successfully  accomplish  the  plan  described  in  the  preceding
paragraph  and  eventually  attain  profitable  operations.   The  accompanying
financial statements do not include any adjustments that might be necessary  if
the Company is unable to continue as a going concern.

NOTE 3 - SIGNIFICANT EVENTS

On  December  11,  2006,  the Company completed a 1 for 20 reverse split of its
common stock. The reverse stock  split is reflected in the financial statements
on a retroactive basis.

<PAGE>	8

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF OPERATIONS

The following discussion and analysis of our financial condition and results of
operations  should  be  read  in  conjunction  with  our consolidated financial
statements and related notes included elsewhere in this  report.  References in
this section to "ValCom, Inc.," the "Company," "we," "us," and "our"  refer  to
ValCom,  Inc.  and our direct and indirect subsidiaries on a consolidated basis
unless the context indicates otherwise.

This quarterly report  contains  forward  looking  statements  relating  to our
Company's  future economic performance, plans and objectives of management  for
future operations,  projections  of  revenue mix and other financial items that
are based on the beliefs of, as well as  assumptions  made  by  and information
currently  known  to,  our  management. The words "expects, intends,  believes,
anticipates, may, could, should" and similar expressions and variations thereof
are intended to identify forward-looking  statements. The cautionary statements
set forth in this section are intended to emphasize  that  actual  results  may
differ materially from those contained in any forward looking statement.

OVERVIEW

The Company is a diversified entertainment company with the following operating
activities:

As of March 31, 2008, ValCom, Inc. operations were comprised of five divisions.

1. Studio Division

2. Rental Division

3. Broadcast Television

4. Film and Television Production

5. Live Theater



1. STUDIO RENTAL

ValCom's  revenue  is primarily generated through the lease of the sound stages
and production. ValCom's  past  and present clients include Paramount Pictures,
Don Belisarious Productions, Warner Brothers, Universal Studios, MGM, HBO, NBC,
20th Century Fox, Disney, CBS, Sony,  Showtime,  the USA Network, the Game Show
Network, Endemol and BET. In January 2008, ValCom  opened its Florida office at
2113A Gulf Blvd., Indian Rock Beach, Florida.

2. RENTAL DIVISION

As part of the rental of sound stages and production  facilities,  Valcom rents
productions  equipment including cameras, lighting and grip packages  both  for
productions using its studio facilities and for location shoots.

3. BROADCAST TELEVISION

Through our joint  venture  with New Global Communications, Inc., ValCom owns a
45% equity interest in ValCom  Broadcasting,  LLC, a New York limited liability
company, which operates KVPS (Channel 8), an independent television broadcaster
in the Palm Springs, California market. Valcom  has  not  realized  significant
revenues from this joint venture to date.

<PAGE>	9

4. FILM AND TELEVISION PRODUCTION

In  addition  to  producing  our own television and motion picture programming,
ValCom also owns a small library  of  television  content, which it distributes
through Valencia Entertainment International. It's  television  series, "A.J.'s
Time  Travelers',  a  40 episode  x one hour episode TV series was licensed  to
Porchlight International for world-wide distribution in November 2007.

5. LIVE THEATER

In 2006 ValCom, Inc. launched  its  Live  Theatre  Division.  The first venture
undertaken  was  `Headlights and Tailpipes' which opened at the Stardust  Hotel
and Casino, Las Vegas in April 2006 and ran until July 2006. The company is did
not produce any further Live Theatre projects in the period to March 2008.


THREE MONTHS ENDED MARCH 31, 2008 VS. MARCH 31, 2007

Revenues for the three  months  March 31, 2008 decreased by $341,539 or47% from
$722,860 for the three months ended  March  31,  2007  to  $381,321for the same
period in 2008. The decrease in revenue was principally due  to  reduced studio
rentals.

Production  costs  for  the  three  months  ended  March 31, 2008 increased  by
$1,223from $0 for the three months ended March 31, 2007  to $1,223 for the same
period  in  2008.  The  increase  in  production costs was principally  due  to
productions completed during 2008.  Depreciation  and  amortization expense for
the  three  months  ended  March  31, 2008 was constant at $6,335  compared  to
$6,335for the three months ended March 31, 2007.

General and administrative expenses  for  the three months ended March 31, 2008
decreased by $1,011,821or 77% from $1,310,400  in  the three months ended March
31,  2008  to  $298,579  for  the  same period in 2007. The  decrease  was  due
principally to reduced asset impairments in 2008.

Interest expense for the three months ended March 31, 2008 increased by $730 or
5% from $14,548 for the three months  ended  March  31,  2007 to $15,278for the
same period in 2008.

SIX MONTHS ENDED MARCH 31, 2008 VS. MARCH 31, 2007

Revenues for the six months March 31, 2008 decreased by $262,548  or  29%  from
$911,505 for the six months ended March 31, 2007 to $648,957for the same period
in 2008. The decrease in revenue was principally due to reduced studio rentals.

<PAGE>	10

Production  costs  for  the six months ended March 31, 2008 increased by $1,223
from $0 for the six months  ended  March 31, 2007 to $1,223 for the same period
in 2008. The increase in production  costs  was  principally due to productions
completed during 2008.

Depreciation and amortization expense for the six  months  ended March 31, 2008
was constant at $12,670 compared to $12,670 for the six months  ended March 31,
2007.

General  and  administrative expenses for the six months ended March  31,  2008
decreased by $835,243 or 46% from $1,798,391 for the six months ended March 31,
2007 to $963,148  for the same period in 2008. The decrease was due principally
to reduced asset impairments during 2008.

Interest expense for  the  six months ended March 31, 2008 decreased by $49,822
or 62 % from $80,378 for the six months ended March 31, 2007 to $30,556 for the
same period in 2008. The decrease  was due principally to conversion of debt to
equity.

Due  to  the factors described above,  the  Company's  net  loss  decreased  by
$626,495 from  $986,448 for the six months ended March 31, 2007 to $359,953 for
the same period in 2008.

FUTURE OUTLOOK

During August 2008, the Company emerged from bankruptcy. The Company is seeking
new business opportunities and to reestablish itself in the television and film
production industry.

The WGA Writers  Strike had created a major level of uncertainty in film and TV
production sector, especially in the Hollywood area and ValCom decided to close
its facility there  and  is  now  planning  to  concentrate  its  studio rental
business in Florida following the opening of a new office there and  is seeking
new  business  opportunities in the television and film production industry  in
the Florida area.

LIQUIDITY AND CAPITAL RESOURCES

The Company's condensed  consolidated  financial statements have been prepared,
assuming that the Company will continue  as  a going concern. The Company has a
net loss of $359,953 and a positive cash flow  from  operations of $139,702 for
the  six  months  ended  March  31,  2008,  a  working  capital  deficiency  of
$3,652,231and an accumulated deficit of $17,659,243 at March  31,  2008.  These
conditions raise substantial doubt about the Company's ability to continue as a
going concern.

<PAGE>	11

Cash  totaled  $213,728  on March  31, 2008 compared to $37,898 as at March 30,
2007. During the six months ended March  31,  2008,  net cash used by operating
activities totaled $139,702 compared to net  cash  used in operating activities
of $325,200 for the comparable six-month period in 2007.  A significant portion
of   operating  activities  included  payments  for  interest  and   production
development costs. Net cash provided by financing activities for the six months
ended  March  31,  2008 totaled $68,100 compared to $291,486 for the comparable
six-month period in 2007.

The above cash flow  activities  yielded a net cash increase of $207,802 during
the six months ended March 31, 2008  compared  to  a decrease of $33,714 during
the comparable prior year period.

Net working capital (current assets less current liabilities)  was  a  negative
$3,652,231as  of  March  31, 2008. The Company will need to raise funds through
various financings to maintain its operations until such time as cash generated
by operations is sufficient  to  meet  its  operating and capital requirements.
There can be no assurance that the Company will  be  able to raise such capital
on terms acceptable to the Company, if at all.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

N/A

ITEM 4. CONTROLS AND PROCEDURES.

EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES

Our  management  is responsible for establishing and maintaining  a  system  of
disclosure controls  and  procedures  (as  defined  in Rule 13a-15(e) under the
Exchange  Act)  that  is  designed to ensure that information  required  to  be
disclosed by the Company in  the  reports  that  we  file  or  submit under the
Exchange Act is recorded, processed, summarized and reported, within  the  time
specified  in  the  Commission's  rules  and  forms.  Disclosure  controls  and
procedures  include,  without  limitation,  controls and procedures designed to
ensure that information required to be disclosed  by  an  issuer in the reports
that it files or submits under the Exchange Act is accumulated and communicated
to  the  issuer's  management,  including  its principal executive  officer  or
officers and principal financial officer or  officers,  or  persons  performing
similar functions, as appropriate to allow timely decisions regarding  required
disclosure.

Pursuant  to Rule 13a-15(b) under the Exchange Act, the Company carried out  an
evaluation  with the participation of the Company's management, including Vince
Vellardita, the  Company's  Chief Executive Officer ("CEO") and Chief Financial
Officer ("CFO"), of the effectiveness  of the Company's disclosure controls and
procedures (as defined under Rule 13a-15(e)  under  the Exchange Act) as of the
three  months ended March 31, 2008. Based upon that evaluation,  the  Company's
CEO and CFO concluded that the Company's disclosure controls and procedures are
not effective  to  ensure  that  information  required  to  be disclosed by the
Company  in  the reports that the Company files or submits under  the  Exchange
Act, is recorded,  processed,  summarized and reported, within the time periods
specified  in  the  SEC's  rules  and  forms,  and  that  such  information  is
accumulated  and  communicated  to  the  Company's  management,  including  the
Company's CEO and CFO, as appropriate,  to  allow  timely  decisions  regarding
required disclosure.

<PAGE>	12

CHANGES IN INTERNAL CONTROLS

Our  management,  with  the  participation the Principal Executive Officer  and
Principal Accounting Officer,  performed an evaluation as to whether any change
in our internal controls over financial  reporting  occurred  during  the  2008
Quarter  ended  March  31,  2008. Based on that evaluation, the Company's Chief
Executive Officer and Chief Financial Officer concluded that no change occurred
in the Company's internal controls  over  financial  reporting  during the 2008
Quarter  ended  March  31, 2008 that has materially affected, or is  reasonably
likely to materially affect,  the  Company's  internal  controls over financial
reporting.


                          PART II--OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

CHAPTER 11 BANKRUPTCY
ValCom filed a voluntary chapter 11 bankruptcy petition on  July  14st 2007 and
obtained  the  status  of  Debtor in Possession.  Valcom had in initiated  suit
against Chicago Title and The  Laurus  Master  Fund  in October 2005 because it
claimed that Laurus and Chicago Title had retained the $500,000 overage arising
out of the proceeding in 2003/4.  Subsequently, the trial court entered summary
judgment  in  favor of Chicago Title and Laurus.  Valcom  appealed,  contending
that there were  triable issues as to whether: (1) Valcom suffered damages; (2)
Chicago Title and  Laurus violated Civil Code sections 2924K, 2924d, and 2924h;
and  (3)  Chicago  Title  breached  its  duties  as  the  foreclosure  trustee.
Additionally, at the time that the trial court granted Summary Judgment against
Valcom, the trial court  awarded  costs  and  attorney fees of $562,127.30, and
Valcom argued in its appeal that Chicago Title  was  not  entitled  to attorney
fees, and the attorney fees awarded to Laurus were excessive.

Prior to the filing of the Chapter 11 bankruptcy, Valcom attempted to  obtain a
stay  against  enforcement  of the attorney fees and costs judgment awarded  to
Chicago Title and Laurus pending  appeal.   Valcom  was  unable to prove to the
trial court's satisfaction that the value of Valcom's assets  was sufficient to
protect Chicago Title and Laurus' judgment.  The Court denied Valcom's  attempt
to use its property in lieu of a cash bond, and threatened with enforcement  of
the  judgment,  Valcom  had  no  choice  but  to file for the protection of the
bankruptcy court.
Valcom, through appeals counsel, filed an appeal,  and  oral  argument  on  the
appeal occurred December 17, 2007.

<PAGE>	13

  On  February  13,  2008,  subsequent  to  the  Debtor's  status conference in
bankruptcy  court,  the  Court  of  Appeals for the Second Appellate  District,
Division Two, case number B193714, ruled  in  favor  of  Valcom,  Inc.  and the
judgment  of  Laurus  Master  Fund  and  Chicago  Title  for  $562,127.30 as an
obligation of the Debtor.
During August 2008, the Company emerged from bankruptcy. The Company is seeking
new business opportunities and to reestablish itself in the television and film
production industry

POW! ENTERTAINMENT:
On  August  23,  2007 Debtor filed an Adversary action (AD07-01638-ER)  against
POW! Entertainment  and  Stan  Lee individually alleging Rescission, Fraud, and
Money Had and Received.
On September 24, 2007 POW! Entertainment and Stan Lee filed a Counter-complaint
(AD07-01638-ER) against Valcom,  Inc.,  Vince  Vellardita, and Richard Shintaku
alleging Fraud, Negligent Misrepresentation, Trademark Infringement, Common Law
Trademark Infringement, Violation of Common Law Right to Publicity, Intentional
Interference   with   Prospective  Economic  Advantage,   Unfair   Competition,
Declaratory Relief, Breach of Contract and Restitution.
On or about October 18,  2007,  the  Status  Conference  in  the Valcom v. POW!
Entertainment  et.  Al.  adversary  action  came  on  for  hearing.  The  Court
consolidated  the  Discovery  Cut-off, Pre-Trial, and Trial Dates  between  the
Complaint and the Counter-complaint  and  selected April 30, 2008 for Discovery
Cut-Off, Pre-Trial for May 15, 2008 and Trial  scheduled  for  the week of June
23, 2008.  The Court also ordered all parties to mediation.
As  of  May  22, 2008 the parties to the Valcom v. POW! Entertainment  et.  Al.
litigation have settled their dispute.
VALCOM, INC. V. JEFF KUTASH ET AL.,
Case number BC372527.   This matter was stayed by Debtor filing Chapter 11, and
subsequently Defendant Jeff  Kutash filed Chapter 7 bankruptcy.

VALCOM, INC. V. TTL PRODUCTIONS,  INC.,  TROY LINGER, CHRIS LENTO DBA BRENTWOOD
MAGAZINE,

Case  number  SC094099.  This matter involves  breach  of  contract  and  fraud
against the Defendants  for $380,000.  The matter was stayed by Debtor's filing
of bankruptcy and ValCom  is in discussion and expects to settle this matter by
agreement to the company's satisfaction.

LLOYD KURTZ

Pending  or  Threatened  Litigation,   Claims  and  Assessments  by  the  prior
contractor for the renovations, at ValCom  Studios in Nevada has been replaced.
Mr. Lloyd Kurtz filed suit on October 25, 2004  against ValCom, Inc., A private
Nevada Corporation which is 80% owned by ValCom,  Inc.  a Delaware Corporation,
ValCom, Inc. a Delaware Corporation and Vincent Vellardita.  The suit alleges a
violation of Securities Act of 1933 and states that Mr. Kurtz purchased 600,000
shares  of  ValCom - Delaware at $0.25 per share and that the shares  were  not
registered. He  claims he is owed an additional $303,000. Mr. Kurtz has filed a
Mechanic's Lien for  $303,000.  A  motion to dismiss the claim of Mr. Kurtz has
been filed. If the corporation does  not  prevail on its Motions to Dismiss the
corporation  will  file its full defense and  counterclaims  which  exceed  the
amount claimed by Mr. Kurtz.

BONNIE NELSON

Ms. Bonnie Nelson, a  former  ValCom  employee  and Director filed suit against
ValCom,  Inc.  The  suit  alleges  a  breach of oral agreement  and  employment
contract.  ValCom,  Inc. terminated Ms. Nelson  for  cause  in  breach  of  her
employment agreement.  ValCom  has reached agreement with Ms Nelson with regard
to this matter

<PAGE>	14

ITEM 1A. RISK FACTORS

Not applicable.

ITEM 2 - UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

NONE

ITEM 3 - DEFAULTS UPON SENIOR SECURITIES

NONE

ITEM 4 - SUBMISSION OF MATTERS TO VOTE OF SECURITY HOLDERS

NONE

ITEM 5 - OTHER INFORMATION

ITEM 6 - EXHIBITS.

(A) Exhibits

31.1  Certification by Chief Executive  Officer  and  Chief  Financial  Officer
pursuant to Section 302 of Sarbanes Oxley Act of 2002.

32.1 Certification  of  Chief  Executive  Officer  and  Chief Financial Officer
Pursuant to 18 U.S.C. Section 1350.

The Company incorporates by reference all exhibits to its  Form  10-KSB for the
year ending September 30, 2006.

<PAGE>	15

                                  SIGNATURES

In accordance with the requirements of the Securities Exchange Act of 1934, the
registrant  caused  this  report to be signed on its behalf by the undersigned,
thereunto duly authorized.

Dated: October 17, 2008

VALCOM, INC., a Delaware Corporation

By:/s/  Vince Vellardita
   ----------------------
   Vince  Vellardita
   Chief  Executive  Officer (Principal
   Executive Officer) and Chief Financial
   Officer (Principal Accounting and
   Financial Officer)



In accordance with the Exchange Act, this report has been signed below by the
following persons on behalf of the issuer and in the capacities  and  on  the
dates indicated.


SIGNATURE                       TITLE                        DATE
--------------------------      ------------------------     ----------------

By:  /s/ Vince  Vellardita      Chief Executive Officer,     October 17, 2008
    ----------------------      Chairman  of  the  Board
    Vince  Vellardita

By: /s/ Richard Shintaku        Director                     October 17, 2008
    --------------------
    Richard  Shintaku

By: /s/ Frank O Donnell         Director                     October 17, 2008
    -------------------
    Frank O Donnell



<PAGE>	16