Businessweek

On 03/29/2013, Valley Forge Composite Technologies Inc. announced that they will be unable to file their ammended 10-K by the deadline required by the SEC.

On 03/29/2013, Valley Forge Composite Technologies Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC.

On February 13, 2013, Louis J. Brothers resigned from his positions as President, Chief Executive Officer, Chief Financial Officer and Chairman of the Board of Valley Forge Composite Technologies Inc., effective immediately. Mr. Brothers also resigned as a member of the Board of Directors. On February 13, 2013, Dan Cayse resigned from his position as a member of the Board of Directors. On February 13, 2013 the Board of Directors (“Board”) sought Larry K. Wilhide’s consent to be appointed as Interim President, Chief Executive Officer, Chief Financial Officer and Interim Chairman of the Board. Mr. Wilhide agreed and the Board appointed him to the above referenced positions.

Valley Forge Composite Technologies Inc. announced that its Board of Directors membership has been expanded from seven to nine persons and that Dan Cayse, CPA, retired Dean of Business Technologies Division, Cincinnati State Technical and Community College, has been appointed to the Board effective January 31, 2013. Madame Ursula Cernuschi, President, Caravan International, an export management company dedicated to space and aerospace programs overseas, has also been appointed to the Board effective April 30, 2013.

Valley Forge Composite Technologies Inc. announced that it has two agreements which will provide for updating the electronics, hardware and software of its THOR-LVX photonuclear detection system. The company executed the agreements on November 28, 2012 and the company believes the aggregate cost of the agreements to the company will be approximately $1,160,000. The result of this work is anticipated to be improved signal collection and processing as well as reduced cost of the entire system. The company believes this work falls under the current pending patent applications as the method and apparatus for detection are not changed. The agreements are with Minitron of the Russian Federation and include numerous scientists who participated in the original Non-Proliferation Cooperative Research and Development Agreements (CRADA). The work is scheduled for completion sometime in 2013.