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 DECEMBER 31, 2009

                        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 [ ]

Indicate by check mark whether the registrant has  submitted electronically and
posted on its corporate Web site, if any, every Interactive  Data File required
to   be   submitted  and  posted  pursuant  to  Rule  405  of  Regulation   S-T
({section}232.405  of this chapter) during the preceding 12 months (or for such
shorter period that the registrant was required to submit and post such files).

[ ] Yes [   ] No.

Indicate by check mark  whether the registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer, or a smaller reporting company. See
the definitions of "large  accelerated filer," "accelerated filer" and "smaller
reporting company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer 	[ ]
Accelerated filer 		[ ]
Non-accelerated filer 		[ ]
Smaller reporting company 	[X]

Indicate by check mark whether the registrant is a shell company (as defined in
Rule 12b-2 of the Exchange Act). Yes [ ] No [X]

         APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS
                        DURING THE PRECEDING FIVE YEARS

Indicate by check mark whether  the  registrant filed all documents and reports
required to be filed by Section 12, 13  or  15(d) of the Exchange Act after the
distribution of securities under a plan confirmed by a court. Yes [X] No [ ]

                     APPLICABLE ONLY TO CORPORATE ISSUERS

State  the number of shares outstanding of each  of  the  issuer's  classes  of
common equity,  as of the latest practicable date: As of February 22, 2010, the
issuer had _______ shares of its $0.001 par value common stock outstanding.


                                 VALCOM, INC.
                                   FORM 10-Q

                                               				Page

PART I - FINANCIAL INFORMATION
Item 1.  Financial Statements						F-2
Item 2.  Management's Discussion and Analysis or Plan of Operation	2
Item 3.  Quantitative and Qualitative Market Risk			6
Item 4.  Controls and Procedures   					6

PART II - OTHER INFORMATION
Item 1.  Legal Proceedings 						7
Item 1A. Risk Factors							7
Item 2.  Unregistered Sales of Equity Securities and Use of Proceeds	7
Item 3.  Defaults Upon Senior Securities				7
Item 4.  Submission of Matters to a Vote of Security Holders		7
Item 5.  Other Information						7
Item 6.  Exhibits							8
SIGNATURES								9

<PAGE>

                                    PART I

FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

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 December 31, 2009 and the results of their operations
and their cash flows for  the  three  months  ended  December  31,  2009. These
consolidated financial statements include the accounts of ValCom, Inc.  and its
subsidiary  companies  (together  "the  Company").  Results for the nine months
ended  December  31, 2009, are not necessarily indicative  of  the  operations,
which may occur during  the  year  ending  September  30,  2009.  Refer  to the
Company's Annual Report on Form 10- K for the year ended September 30, 2009 for
further information.

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					VALCOM, INC.
				       Balance Sheets

					December 31, 2009	September 30, 2009
					(Unaudited)
					-----------------	------------------

Assets

CURRENT ASSETS	(unaudited)

Cash	 				$	 103,608 	$	   110,846
Restricted cash	 				  60,313 		    60,230
Accounts receivable, net	 		  96,376 		    44,303
Prepaid assets	 				 275,000 		         -
Inventory	 				 424,209 		   487,324
					-----------------	------------------
Total Current Assets				 959,506 		   702,703

FIXED ASSETS, net
Property, equipment and film
  library, net	 				 223,991 		   238,664
Intangible assets, net	 			 257,786 		   290,695
					-----------------	------------------
TOTAL ASSETS	 			$      1,441,283 	$	 1,232,062
					=================	==================
LIABILITIES AND STOCKHOLDERS' DEFICIT

CURRENT LIABILITIES
Accounts payable and accrued expenses	$      1,077,052 	$	   633,605
Due to related parties				 922,027 		   900,048
Derivative liability, current	 		   8,559 		 	 -
Notes payable, net of discount	 		 410,373 		   378,839
					-----------------	------------------
Total Current Liabilities	 	       2,418,011 		 1,912,492
					-----------------	------------------
DEREVATIVE LIABILITY	 			 334,461 		 	 -
					-----------------	------------------
STOCKHOLDERS' 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, 14,691,395 shares issued and
  outstanding	 				  14,691 		    14,691

Common stock, 250,000,000 shares
  authorized at par value of $0.001,
  40,434,158 and  22,776,099 shares
  issued and outstanding, respectively	 	  39,201 		    39,064
Treasury stock, 35,000 shares	 		 (23,522)		   (23,522)
Additional paid-in capital	 	      19,632,548 	        19,791,048
Accumulated deficit	 		     (20,974,145)	       (20,501,749)
					-----------------	------------------
Total Stockholders' Deficit	 	      (1,311,189)		  (680,430)
					-----------------	------------------
TOTAL LIABILITIES AND
  STOCKHOLDERS' DEFICIT	 		$	1,441,283 	$	 1,232,062
					=================	==================

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


</TABLE>


<PAGE>	F-2

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					VALCOM, INC.
				 Statements of Operations
					(Unaudited)


					For the Three		For the Three
					Months Ended		Months Ended
					December 31, 2009	December 31, 2008
					-----------------	-----------------

REVENUES	 			$	  191,185 	$	   66,269
COST OF GOODS SOLD	 			  123,464 		      107
					-----------------	-----------------
GROSS PROFIT	 				   67,721 		   66,162

OPERATING EXPENSES

Advertising and marketing	 		      537 		   54,138
Depreciation and amortization 			   48,672 		   22,788
General and administrative	 		  363,126 		  413,616
					-----------------	-----------------
Total Operating Expenses	 		  412,335 		  490,542

LOSS FROM OPERATIONS	 			 (344,614)		 (424,380)

OTHER INCOME (EXPENSE)

Interest expense	 			   (5,666)		  (20,343)
Amortization of debt discount	 		  (47,172)		 	-
Gain on derivative liabilities	 		  112,347 		 	-
					-----------------	-----------------
TOTAL OTHER INCOME (EXPENSE)	 		   59,509 		  (20,343)
					-----------------	-----------------
LOSS BEFORE INCOME TAXES	 		 (285,105)		 (444,723)
PROVISION FOR INCOME TAXES	 		        - 		 	-
					-----------------	-----------------
NET LOSS	 			$	 (285,105)	$	 (444,723)
					=================	=================
BASIC LOSS PER SHARE	 			    (0.01)		    (0.02)
					=================	=================
WEIGHTED AVERAGE NUMBER OF
  SHARES OUTSTANDING	 		       39,913,506 	       23,710,964
					=================	=================


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

</TABLE>

<PAGE>	F-3

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				       		       VALCOM, INC.
					Statements of Stockholders' Equity (Deficit)
							(Unaudited)
							(Continued)


					Series B Preferred Stock	Series C Preferred Stock	Common Stock
					Shares		Amount		Shares		Amount		Shares	    Amount
					------		------		----------	-------		----------  -------
Balance,
September 30,
2009					38,000	 	$38.00 		14,691,395	$14,691 	39,064,158  $39,064

Cumulative effect
of change in
accounting principle-
October 1, 2009
reclassification of
embedded feature of
equity-linked financial
instruments to
derivative liabilities

Common stock issued
for services							 					  1,050,000 	105

Common stock issued
for cash							 					    320,000 	 32

Net loss
					------		------		----------	-------		----------  -------
Balance,
December 31,
2009	 				38,000 	 	$38.00 		14,691,395 	$14,691 	40,434,158  $39,201
					======		======		==========	=======		==========  =======

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

</TABLE>

<PAGE>	F-4

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				       VALCOM, INC.
			Statements of Stockholders' Equity (Deficit)
					(Unaudited)
					(Continued)

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

Balance,
September 30, 2009	 	$(23,522)	$20,014,218 	$(20,724,919)	$   (680,430)

Cumulative effect
of change in
accounting principle-
October 1, 2009
reclassification of
embedded feature of
equity-linked financial
instruments to
derivative liabilities				   (475,533)	      35,879 	$   (439,654)

Common stock issued
for services		 	  		     77,895 		 	      78,000

Common stock issued
for cash		 			     15,968 		 	      16,000

Net loss		 				  - 	    (285,105)	    (285,105)
				--------	-----------	------------	------------
Balance,
December 31, 2009		$(23,522)	$19,632,548 	$(20,974,145)	$ (1,311,189)
				========	===========	============	============

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

</TABLE>

<PAGE>	F-5

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					VALCOM, INC.
				 Statements of Cash Flows

							For the Three		For the Three
							Months Ended		Months Ended
							December 31,		December 31,
							2009			2008
							------------		------------
OPERATING ACTIVITIES
Net loss	 					$   (285,105)		$   (444,723)
Adjustments to reconcile net loss to net
  cash used by operating activities:
Stock issued for services	 			      78,000 		      86,973
Depreciation expense	 				      15,763 		      22,788
Amortization of intangible assets	 		      32,909 		 	   -
Amortization of note discount	 			      47,172 		 	   -
Gain on derivative liabilities	 			    (112,347)		 	   -
Changes in operating assets and liabilities:
Accounts receivable	 				     (52,073)		    (111,877)
Prepaid assets	 					    (275,000)		       6,109
Inventory	 					      63,115 		 	   -
Accounts payable and accrued expenses	 		     443,522 		     (98,110)
Accounts payable to related party	 		      21,979 		 	   -
							------------		------------
Net Cash Used in Operating Activities	 		     (22,065)		    (538,840)
							------------		------------
INVESTING ACTIVITIES

Purchase of property and equipment	 		      (1,090)		     (48,203)
Increase in restricted cash	 				 (83)		 	   -
							------------		------------
Net Cash Used in Investing Activities	 		      (1,173)		     (48,203)
							------------		------------
FINANCING ACTIVITIES

Proceeds from sale of common stock			      16,000 		 	   -
Proceeds from note payable	 				   - 		      51,500
Proceeds from related party payable	 			   - 		     482,351
							------------		------------
Net Cash Provided by Financing Activities	 	      16,000 		     533,851
							------------		------------
NET DECREASE IN CASH	 				      (7,238)		     (53,192)

CASH AT BEGINNING OF YEAR	 			     110,846 		      86,416
							------------		------------
CASH AT END OF YEAR	 				$    103,608 		$     33,224
							============		============
SUPPLEMENTAL DISCLOSURES OF
CASH FLOW INFORMATION

CASH PAID FOR:
Interest						$      2,500 		$	   -
Income Taxes	 					$	   - 		$	   -

NON CASH FINANCING ACTIVITIES:
Cummulative effect of change in accounting principal	$    455,367 		$	   -
Common stock issued for debt	 			$	   - 		$    100,000
Preferred stock issued for subsidiary	 		$	   - 		$      9,000
Debt issued for subsidiary	 			$	   - 		$    750,000
Debt assumed in acquisition of subsidiary	 	$	   - 		$    116,278


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

</TABLE>


<PAGE>	F-6



                                 VALCOM, INC.
                       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 December 31, 2009 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,
2009  audited  financial statements.  The results of operations for the  period
ended December 31,  2009  and  2008  are  not  necessarily  indicative  of  the
operating results for the full years.

Recent Accounting Pronouncements

  In  June 2008, the FASB issued EITF 07-05, "Determining Whether an Instrument
(or Embedded  Feature) is Indexed to an Entity's Own Stock", which was codified
into  ASC  Topic   815-40-15   effective   for  fiscal  years  beginning  after
December 15, 2008, and interim periods within  those  fiscal  years. This topic
addresses  the determination of whether an instrument (or an embedded  feature)
is indexed to  an entity's own stock. If an instrument (or an embedded feature)
that has the characteristics  of  a  derivative  instrument  under the relative
paragraphs of Statement 133 is indexed to an entity's own stock,  it  is  still
necessary  to  evaluate  whether  it  is classified in stockholders' equity (or
would  be  classified  in  stockholders'  equity  if  it  were  a  freestanding
instrument).  The  guidance  in  this topic shall  be  applied  to  outstanding
instruments as of the beginning of  the  fiscal  year  in  which  this Issue is
initially applied. The cumulative effect of the change in accounting  principle
shall  be  recognized  as  an  adjustment  to  the  opening balance of retained
earnings  (or  other  appropriate components of equity or  net  assets  in  the
statement of financial  position)  for  that fiscal year, presented separately.
However, in circumstances in which a previously  bifurcated embedded conversion
option  in  a  convertible  debt  instrument no longer  meets  the  bifurcation
criteria in Statement 133 at initial  application  of  this topic, the carrying
amount of the liability for the conversion option (that  is, its' fair value on
the date of adoption) shall be reclassified to shareholders'  equity.  Any debt
discount   that  was  recognized  when  the  conversion  option  was  initially
bifurcated from the convertible debt instrument shall continue to be amortized.
The adoption  of ASC 815-40-15 effected our consolidated financial position and
results of operations as disclosed in Note 4.

<PAGE>	F-7

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.

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 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 - WARRANT DERIVATIVES

In  June  2008, the FASB finalized FASB ASC 815-15, which specifies a procedure
to determine  if an equity-linked financial instrument (or embedded feature) is
indexed to its  own common stock. FASB ASC 815-15 is effective for fiscal years
beginning after December  15,  2008.  A total of 5,209,000 of Valcom's warrants
that  were  previously classified in equity  were  reclassified  to  derivative
liabilities on  October  1,  2009 as a result of FASB ASC 815-15.  In addition,
certain embedded features related  to  convertible  debt  were  bifurcated  and
recorded  as  derivative  liabilities  on October 1, 2009. Valcom estimated the
fair  value  of  these liabilities as of October1,  2009  to  be  $455,366.  In
addition, we recorded  a  reduction  of $475,533 to Additional Paid-in Capital;
$35,879  to  Accumulated  Deficit  and  an   increase   in   debt  discount  of
$15,638.  The effect of this adjustment is recorded as a cumulative  effect  of
change  in  accounting principle in our consolidated statement of stockholders'
deficit. At December  31,  2010,  the derivative liability was marked to market
and had a market value of $343,020.  During the three months ended December 31,
2010, we recorded a gain on derivative liabilities totaling $112,347.

NOTE 4- SUBSEQUENT EVENTS

The  Company  evaluated  subsequent  events   through  February  25,  2010  and
determined there were none requiring disclosure.

<PAGE>	F-8

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

Certain  statements  in  "Management's  Discussion  and  Analysis  or  Plan  of
Operation"  below,  and  elsewhere in this quarterly report, are not related to
historical  results,  and  are   forward-looking   statements.  Forward-looking
statements  present our expectations or forecasts of  future  events.  You  can
identify these  statements  by  the  fact  that  they do not relate strictly to
historical or current facts. These statements involve  known and unknown risks,
uncertainties and other factors that may cause our actual  results,  levels  of
activity,  performance  or  achievements  to  be  materially different from any
future results, levels of activity, performance or  achievements  expressed  or
implied   by  such  forward-  looking  statements.  Forward-looking  statements
frequently  are  accompanied  by  such  words  such as "may," "will," "should,"
"could," "expects," "plans," "intends," "anticipates," "believes," "estimates,"
"predicts," "potential" or "continue," or the negative  of  such terms or other
words and terms of similar meaning. Although we believe that  the  expectations
reflected  in  the  forward-  looking  statements  are  reasonable,  we  cannot
guarantee  future  results,  levels  of activity, performance, achievements, or
timeliness of such results. Moreover,  neither  we nor any other person assumes
responsibility  for  the  accuracy  and completeness  of  such  forward-looking
statements.  We  are  under  no  duty  to update  any  of  the  forward-looking
statements after the date of this quarterly report. Subsequent written and oral
forward looking statements attributable  to  us  or  to  persons  acting in our
behalf  are expressly qualified in their entirety by the cautionary  statements
and risk factors set forth below and elsewhere in this quarterly report, and in
other reports filed by us with the SEC.

INTRODUCTION

PLAN OF OPERATION

As of December  31,  2009,  ValCom, Inc. ("Valcom" or the "Company") operations
were comprised of the following activities:

1. TV Stations and Broadcast Division

2. Film and Television Production

3. Live Theater Event Division

4. Real Estate Channel Auctions

Corporate offices are located at 2113A Indian Rocks Beach, Florida.

Certain  statements  in  "Management's  Discussion  and  Analysis  or  Plan  of
Operation" below, and elsewhere  in  this  annual  report,  are  not related to
historical   results,   and  are  forward-looking  statements.  Forward-looking
statements present our expectations  or  forecasts  of  future  events. You can
identify  these  statements  by  the  fact that they do not relate strictly  to
historical or current facts. These statements  involve known and unknown risks,
uncertainties and other factors that may cause our  actual  results,  levels of
activity,  performance  or  achievements  to  be  materially different from any
future results, levels of activity, performance or  achievements  expressed  or
implied   by  such  forward-  looking  statements.  Forward-looking  statements
frequently  are  accompanied  by  such  words  such as "may," "will," "should,"
"could," "expects," "plans," "intends," "anticipates," "believes," "estimates,"
"predicts," "potential" or "continue," or the negative  of  such terms or other
words and terms of similar meaning. Although we believe that  the  expectations
reflected  in  the  forward-  looking  statements  are  reasonable,  we  cannot
guarantee  future  results,  levels  of activity, performance, achievements, or
timeliness of such results. Moreover,  neither  we nor any other person assumes
responsibility  for  the  accuracy  and completeness  of  such  forward-looking
statements.  We  are  under  no  duty  to update  any  of  the  forward-looking
statements after the date of this annual  report.  Subsequent  written and oral
forward  looking  statements  attributable  to us or to persons acting  in  our
behalf are expressly qualified in their entirety  by  the cautionary statements
and risk factors set forth below and elsewhere in this  annual  report,  and in
other reports filed by us with the SEC.

<PAGE>	2

INTRODUCTION

PLAN OF OPERATION

As  of  September  30,  2009,  ValCom,  Inc.  operations  were comprised of the
following divisions:

1. BROADCASTING

On August 1, 2008, ValCom signed a letter of intent to acquire 100% of Faith TV
LLC,  a  Christian  TV  network  operating  through  65  television   broadcast
affiliates  and  through  IPTV  &  LPTV  networks. On December 15, 2008, Valcom
closed the agreement for the 100% purchase  of  Faith TV and has re-branded the
network and launched it as "MyFamily TV", a new family  focused TV network with
plans to add significantly more broadcast affiliates. My  Family TV is a strong
family oriented network with a core established audience and broadcasts to over
50m  households  on  full-time  and  part-time through its extensive  affiliate
network.  My  Family  TV  is  a  new network  created  for  American  families,
broadcasting over 80 movies per month  and  in  July 2009 launched Kid Mango, a
daily  3 hour kids block in a venture with Porchlight  Entertainment  which  is
carried  on Sky Angel, iLife and on the ION digital channel and featuring major
kids programs  including Emmy Award winning titles such as Jakkers, Jay Jay the
Jet Plane and Denis the Menace.

With the acquisition  of  My  Family TV, Valcom now has a library of over 1,000
films, over 200 episodic TV series  and  more  than  500  individual TV one-off
specials and documentary programs.

A  major  revenue stream for ValCom is network television. The  vision  of  the
company is  to follow the path of ABC Family;  a network that was purchased for
$1.6 Billion  and  was  later  sold  for $5.1 Billion.  The first network being
built by ValCom is MyFamilyTV , which  was  acquired  by  the  company in 2008.
  ValCom has already made changes to MyFamilyTV that have increased the overall
value  of  the network. Some of these changes include: increasing  carriage  to
over 50m homes  in  2009  with agreements with iLife, Sky Angel and Worship TV;
implementing an aggressive  effort  to  secure  cable and broadcast coverage in
additional major markets; and adding new original lifestyle programming such as
Extreme Tourist, Kids Cooking for Kids & Tech Close-up.   Already  ValCom  owns
the  network  free  and clear and is operating MyFamilyTV with almost no debt.
ValCom will be acquiring  and  launching  new  channels that will grow in value
based on 4 factors: Programming, Distribution, Ad  Sales  and  Low  Operational
Expenses.   The  company has positioned itself to be the U.S. market leader  in
live interactive TV  auctions,  traditional  and innovative family programming,
sports and will launch this successful formula  to  major international markets
in 2010.

Through our joint venture with New Global Communications,  Inc.,  we  own 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>	3

2. FILM AND TV PROGRAM PRODUCTION DIVISION / DISTRIBUTION

ValCom's business  includes  television  production for network and syndication
programming, motion pictures, and real estate  holdings.  Revenue  is primarily
generated  through the lease of the sound stages and production. Our  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,  BET  Home
Shopping Network and Sullivan Studios.

ValCom has a long history  of  TV and film production and continuously develops
projects for productions and considers  proposals for co-production. ValCom has
developed and produced a number of live action  series  pilots  and full length
feature film projects such as PCH (Pacific Coast Highway) and the 40 episode TV
series AJ's Time Travelers. Valcom has been commissioned to produce pilots such
as Truster for Fox, It also produces development pilots itself for  pitching to
networks  such  as the New York based sitcom Fuhgedabowit and Lets Do It  Again
featuring  Frankie   Avalon.  With  its  integrated  studio  operation,  studio
equipment and post production  facility,  ValCom  has  the  opportunity  to co-
produce by way of the provision of services with the opportunity to defer costs
and  also  to  provide  executive producer services to assist with development,
planning, financing and distribution.

October 1, 2003, we formed  New  Zoo  Revue  LLC  pursuant  to  a joint venture
agreement with O Atlas Enterprises Inc.,a California corporation. New Zoo Revue
LLC was formed for the development and production of "New Zoo Revue"  a feature
film and television series and marketing of existing episodes. The company  did
not  proceed with the production of the new feature film or series but in 2004,
it did  complete  a distribution agreement for the DVD with BCI Eclipse for 183
episodes of the New  Zoo  Revue  library.  Valcom  has not realized significant
revenues from animation to date.

ValCom's Studio Division is composed of its studio at  14375  Myerlake  Circle,
Clearwater,  Florida  which  houses  a  state-of-  the  art  production studio,
broadcast   facilities,  recording  studios,  production  design  construction,
animation and  post-production.  Corporate  offices are located at 2113A Indian
Rocks Beach, Florida.

In  2009, Valcom produced the documentary feature  film  `Michel  Le  Grand  is
Music'.  The documentary pays tribute to Michel Legrand's five-decade, multiple
award-winning  career  composing many of the most memorable film and television
scores and songs of all  time.  ValCom  Inc. will premiere the documentary in a
limited week-long theatrical run in New York  City  on  September  18th  at the
Coliseum Theater. In addition, the documentary will premiere in Los Angeles  on
September  16th  at  the  Laemmle  Grand  Cineplex 4. "Michel Legrand Is Music"
honors the work of the three-time Academy Award-winning  French music composer,
arranger, conductor and pianist Michel Legrand. Legrand composed  more than 200
film  and  television  scores and numerous jazz, popular and classical  musical
albums. He won Academy Awards  for Best Music, Original Song for "The Windmills
of  Your Mind" from "The Thomas Crown  Affair"  (1969),  Best  Music,  Original
Dramatic  Score  for  "Summer  of '42" (1971) and Best Music, Original Song for
Barbra Streisand Movie "Yentl" (1983).  Academy  Award-winning actor Jon Voight
narrates the documentary.

Valcom  ,  through  Valencia  Entertainment International  operates  a  compete
distribution and syndication service  to producers and thus acquire content for
its networks at little or no cost with  its  ability  to guarantee TV broadcast
and provide a launch for further home entertainment distribution on DVD and on-
demand channels through it other relationships. ValCom also has the opportunity
to co-produce film and TV programs by way of the provision of services with the
opportunity to defer costs and also to provide executive  producer  services to
assist  with  development,  planning,  financing  and  then  be able to acquire
distribution rights for these productions.

ValCom  owns a substantial library of television content with over  1000  films
and it also  acquires  third party film and TV programming which it distributes
through Valencia Entertainment International.

On November 6, 2007, Valencia Entertainment signed an agreement with Porchlight
Distribution Inc. from Santa  Monica  Blvd.,  Los  Angeles,  for  the worldwide
distribution of all 40 episodes of A.J.'s Time Travelers.

In  December  2008, Valcom signed a production and distribution agreement  with
XFC,  the  mixed   martial   arts  promoter  for  the  editing  and  world-wide
distribution of 13 one hour shows  featuring  live  events promoted by XFC. XFC
events are currently attracting the largest audiences of any mixed martial arts
events promoted in the US

To coincide with the Michel LeGrand live events in Las Vegas in 2010, Valcom is
planning a number of distribution opportunities including  the distribution and
syndication of programming based on the live event, music recordings, album and
other related events.

<PAGE>	4

3.  LIVE THEATRE AND EVENT DIVISION

Valcom  has  a live theatre division responsible for bringing  live  shows  and
events to fruition.  In  2006  Valcom  produced  a  theater  production  called
'Headlights  and  Tailpipes' which was unveiled at the Las Vegas Stardust hotel
and ran until July 2006. Other events produced included the 2006 Superbowl pre-
game Wrap Bowl Event  featuring  Young  Jeezy,  Academy  Award winner Ludacris,
Juvenile and Juelz Santana.

Valcom,  through  its subsidiary, Valencia Entertainment is  producing  a  live
theatre event based on Michel LeGrand and his music scheduled for March 2010 at
the MGM Grand's Garden  Arena,  Las  Vegas  and  featuring  a  line-up of major
international  recording stars.  The event will take place over two  nights  on
March 26th and 27th  and Michel Legrand will be conducting a 66-piece orchestra
and will include guests  such  as  Quincy Jones, Dionne Warwick, Andy Williams,
George Benson, Jon Voight, Patti Page,  Steve Lawrence, Melissa Manchster, Neil
Sedaka and Jerry Lewis.  The two-night shows  will  pay musical tribute to come
of Legrand's Academy Award-winning  MGM movies including "Yentl", "Thomas Crown
Affair" and "Summer of 42".  The superstar extravaganza  will  also be captured
on film for a made-for-TV-Special to air at a later date.

4. REAL ESTATE AND OTHER BROADCAST EVENT AUCTIONS

In  2009, Valcom pioneered the process of live event auctions covering  a  wide
range  of  events for TV broadcast and live webcast. Combining the expertise in
TV production,  live  event  promotion  and  now as the owner of a broadcast TV
network, the opportunity offers a synergistic  approach to such events. In 2008
and 2009, Valcom produced a wide range live TV and webcast events including

1. The Hilton `Make a Wish Foundation' broadcast  live  from the Hilton mansion
   in Beverly Hills in December 2008

2. The Universal Studios `Battlestar Galactica' prop and memorabilia auction by
   live  web-cast  in  2009  over a number of days from the Pasadena Convention
   Centre

3. The Grammy Awards `Music Cares' auction as part of the 2009 Grammy Awards

In  June  2009,  Valcom together with Florida Opportunities,  Inc  set  up  Sun
Investments LLC, a  51%  subsidiary  of  Valcom,  Inc  to  develop the business
opportunity of live event and regular real estate auctions on broadcast TV. Sun
Investments   will  acquire  suitable  properties  and  together  with   Valcom
production studios,  My  Family  TV  will  produce  live auction events. Valcom
acquires  additional  TV  carriage through the purchase  of  airtime  on  major
networks and markets the events nationwide.

The first such event took place  on  June  2009 followed by an event in October
2009 with live broadcast from the Valcom  studios  media  centre in Clearwater,
Florida and broadcast live over 4 hours on My Family TV, the  Ion  Network with
an  auction  of over 40 foreclosure properties acquired by Sun Investments.  In
November the next  event  was  broadcasted  over  My  Family TV and DSN (Direct
Shopping Netwerk). A series of further live events are planned for 2010.

THREE MONTHS ENDED DECEMBER 31, 2009 VS. DECEMBER 31, 2008

Revenues for the three months December 31, 2009 increased  by  $124,916 or 189%
from $66,269 for the three months ended December 31, 2008 to $191,185  for  the
same  period  in  2009.  The  increase  in  revenue  was principally due to the
purchase of MyFamily TV and home sales from Sun Investments.

Production costs for the three months ended December 31,  2009  increased  from
$107  for  the  three  months  ended December 31, 2008 to $123,464 for the same
period in 2009.   The increase was  primarily  due  activity at MyFamily TV and
Sun Investments.

Depreciation and amortization expense for the three months  ended  December 31,
2009  increased  by  $25,884  or  114% from $22,788 for the three months  ended
December 31, 2008 to $48,672 for the  same period in 2009. The increase was due
to the amortization of goodwill related to the purchase of MyFamily TV.

General and administrative expenses for  the  three  months  ended December 31,
2009  decreased  by  $50,490  or  12% from $413,616 for the three months  ended
December 31, 2008 to $363,126 for the same period in 2009. The decrease was due
principally to the decrease in consulting fees.

Interest expense for the three months  ended  December  31,  2009  decreased by
$14,677  or 72 % from $20,503 for the three months ended December 31,  2008  to
$5,666 for  the  same  period  in 2009. The decrease was due principally to the
payment of the Abel Income note.

Due  to  the factors described above,  the  Company's  net  loss  decreased  by
$159,618 from $444,723 for the three months ended December 31, 2008 to $285,105
for the same period in 2009.

<PAGE>	5

FUTURE OUTLOOK COMPANY UPDATE

Valcom, through  its  subsidiary,  Valencia  Entertainment  is producing a live
theatre event based on Michel LeGrand and his music scheduled for March 2010 at
the  MGM  Grand's  Garden  Arena,  Las Vegas and featuring a line-up  of  major
international recording stars.  The  event  will  take place over two nights on
March 26th and 27th and Michel Legrand will be conducting  a 66-piece orchestra
and  will include guests such as Quincy Jones, Dionne Warwick,  Andy  Williams,
George  Benson, Jon Voight, Patti Page, Steve Lawrence, Melissa Manchster, Neil
Sedaka and  Jerry  Lewis.  The two-night shows will pay musical tribute to come
of Legrand's Academy Award-winning  MGM movies including "Yentl", "Thomas Crown
Affair" and "Summer  of  42".  The superstar extravaganza will also be captured
on film for a made-for-TV-Special to air at a later date.

Valcom is also actively pursuing  opportunities to either merge with or acquire
a television network. At this moment  My Family TV has no debt and is operating
near breakeven, growing the network can  be  done  through  organic  growth  or
through  an acquisition or merger.  Valcom is currently having discussions with
potential  targets  and  evaluating  what the best course of action would be. A
merger or acquisition would result in  lowering  our  operating expenses due to
cost efficiency that can be reach and increase of footprint.

There  is  another  live  auction planned for March 2010 for  our  Real  Estate
auctions. The company is planning  on  increasing  the  frequency  to go to 1 a
month  and  ultimately 1 -2 per week. In addition we are looking for additional
auction events.

There are also several production projects Valcom is looking at and bidding on.

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 $285,105 and a negative cash flow  from  operations  of $22,065 for
the  three  months  ended  December  31, 2009, a working capital deficiency  of
$1,474,218 and an accumulated deficit  of  $20,922,163  at  December  31, 2009.
These  conditions  raise  substantial  doubt  about  the  Company's  ability to
continue as a going concern.

Cash  (exclusive  of  restricted  cash)  totaled  $103,608 on December 31, 2009
compared to $110,846 as at December 31, 2008. During  the  three  months  ended
December  31,  2009,  net  cash  used  by  operating activities totaled $22,065
compared  to  net  cash  used  by  operating activities  of  $538,840  for  the
comparable  three  -  month period in 2008.  Net  cash  provided  by  financing
activities  for the three  months  ended  December  31,  2009  totaled  $16,000
compared to $533,851for the comparable three-month period in 2008.

The above cash  flow  activities  yielded a net cash decrease of $ 7,238 during
the three months ended December 31,  2009  compared  to  a  decrease of $53,192
during the comparable prior year period.

Net   working  capital  (current  assets  less  current  liabilities)   was   a
$(1,474,218)  as  of  December  31,  2009. 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 and Chief Financial Officer
("CEO/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 December 31, 2009. Based upon that evaluation, the Company's
CEO  /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  /CFO,  as  appropriate,  to  allow  timely decisions  regarding
required disclosure.

<PAGE>	6

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 2009
Quarter  ended  December  31,  2009.  Based  on  that evaluation, the Company's
CEO/CFO  concluded that no change occurred in the Company's  internal  controls
over financial  reporting  during the 2009 Quarter ended December 31, 2009 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 COMPANY

None

ITEM 1A. RISK FACTORS

WE WILL REQUIRE ADDITIONAL FUNDS TO ACHIEVE OUR CURRENT BUSINESS  STRATEGY  AND
OUR  INABILITY  TO  OBTAIN  ADDITIONAL  FINANCING  COULD  CAUSE US TO CEASE OUR
BUSINESS OPERATIONS.

We will need to raise additional funds through public or private  debt  or sale
of  equity to achieve our current business strategy. Such financing may not  be
available  when needed. Even if such financing is available, it may be on terms
that are materially  adverse to your interests with respect to dilution of book
value, dividend preferences,  liquidation  preferences,  or  other  terms.  Our
capital  requirements  to  implement our business strategy will be significant.
However, at this time, we cannot  determine  the  amount  of additional funding
necessary to implement such plan. We anticipate requiring additional  funds  in
order  to  fully  implement  our  business  plan  to  significantly  expand our
operations. We may not be able to obtain financing if and when it is needed  on
terms  we  deem  acceptable.  Our  inability  to  obtain financing would have a
material negative effect on our ability to implement  our acquisition strategy,
and  as  a  result,  could  require us to diminish or suspend  our  acquisition
strategy.

If we are unable to obtain financing on reasonable terms, we could be forced to
delay,  scale  back  or  eliminate  certain  product  and  service  development
programs. In addition, such  inability  to obtain financing on reasonable terms
could have a material negative effect on  our  business,  operating results, or
financial condition to such extent that we are forced to restructure,  file for
bankruptcy,  sell  assets  or  cease  operations,  any  of which could put your
investment dollars at significant risk.

Except as set forth above, there have been no material changes  from  the  Risk
Factors  described  in our Annual Report on Form 10-K for the fiscal year ended
September 30, 2009.

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

THERE WERE NO SALES OF  SECURITIES  DURING THIS QUARTER BEING THE FIRST QUARTER
OF 2010

ITEM 3 - DEFAULTS UPON SENIOR SECURITIES

NONE

ITEM 4 - SUBMISSION OF MATTERS TO VOTE OF SECURITY HOLDERS

NONE

ITEM 5 - OTHER INFORMATION

NONE.

<PAGE>	7

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-K  for  the
year ending September 30, 2007.

                                  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.

<PAGE>	8

Dated: March 3, 2010

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)

<PAGE>	9