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Valley Forge Composite Technologies, Inc. Announces Retaining LGI CFO for Outsourced Financial Management Services
Jan 09, 2012 (05:01 AM EST)
COVINGTON, Ky., Jan. 9, 2012 /PRNewswire/ -- Valley Forge Composite Technologies, Inc. ('Valley Forge', or 'The Company', OTCBB: VLYF) announces the retaining of LGI CFO for outsourced financial management services effective immediately. Louis Brothers will retain the positions of Chairman, CEO and CFO, but Steve Lumley, Founder and CEO of LGI CFO, will advise the Company on overall management of the finance department, the bank relationship, cash flow, preparation of financial statements, reporting, and operating budgets.
"Steve brings a wealth of knowledge and a proven track record of financial management to our company," said Louis Brothers, Chairman, CEO, & CFO of Valley Forge. "His strategic financial insight and initiative will help position the company during our growth phase." The entire Board of Directors concluded that outsourcing the financial functions of Valley Forge was a logical next phase for the company. "We are excited to be part of a growing opportunity in the detection and security industry," said Steve Lumley, Founder and CEO of LGI CFO. "Valley Forge has several sizeable prospects in its pipeline and we look forward to aiding the company in its execution of these opportunities and planning for future growth."
Steve Lumley Biographical Information
Steve Lumley, Founder and CEO LGI CFO, is an expert on strategic financial management. His outsourced CFO business has served hundreds of small and middle market, privately-held and not for profit companies since he founded the business in 1990. Prior to founding LGI CFO, Steve served as the CFO of two companies - a billion dollar bank and a computer software company. Before that he had big four audit experience. An accounting graduate of Miami University, Oxford, Ohio, Steve has a MBA from Indiana University in finance and banking and a CPA.
About LGI CFO
LGI CFO, founded by Steve Lumley in 1990, is headquartered in Cincinnati, Ohio and specializes in strategic financial management solutions for businesses. With more than 100 years of combined experience, LGI CFO acts as the CFO, controller or business advisor to many emerging companies. The company serves as a business partner and becomes part of the management team, working side-by-side on a project or an on-going outsourced basis.
About Valley Forge
More information about Valley Forge Composite Technologies, Inc. can be found at www.vlyf.com.
The Private Securities Litigation Reform Act of 1995 provides a 'safe harbor' for certain forward-looking statements. Statements in this press release that relate to Valley Forge Composite Technologies, Inc.'s future plans, objectives, expectations, performance, events, reports made by others and the like, including a statement about the assumptions underlying a forward-looking statement, are forward-looking statements protected by the safe harbor. Investors should understand that future events, risks and uncertainties, individually or in the aggregate, are factors that could cause our actual results to differ materially from those expressed or implied in our forward-looking statements. These factors could include changes in economic conditions or government policies that may change the demand for the Company's products and services and could include other factors discussed in the sections of the Company's report on Form 10-K for the year ended 31 December, 2010 as filed with the U.S. Securities and Exchange Commission, entitled 'Business,' 'Management's Discussion and Analysis of Financial Condition and Results of Operations' and 'Risk Factors.' This release is comprised of interrelated information that must be interpreted in the context of all of the information provided and care should be exercised not to consider portions of this release out of context. Investments in the Company should be considered speculative and prior to acquisition, should be thoroughly researched. Valley Forge Composite Technologies, Inc. does not intend to update these forward-looking statements prior to its reporting of its quarterly or annual results.
SOURCE Valley Forge Composite Technologies, Inc.