OTC Bulletin Board S & P Company Insight for VALLEY FORGE COMPOSI
Profile
	Business Summary: Valley Forge Composite Technologies, Inc., through its subsidiaries, engages in the development and commercialization of counter-terrorism products primarily in the United States.   Address   50 E River Center Blvd Ste 820   Covington , KY 41011   Phone: 859-581-5111   Fax: 859-581-5116   Website: http://www.vfct.com Auditor   SHERB & CO., LLP Transfer Agent   Florida Atlantic Stock Transfer Inc. Employees:  4 ShareHolders:  59 Founded:  1996 Domicile:  Florida
Background
	Valley Forge Composite Technologies, Inc., through its subsidiaries, engages in the development and commercialization of counter-terrorism products primarily in the United States. The company offers THOR LVX, a photonuclear detection system that facilitates a detection capability for illicit narcotics, explosives, and bio-chemical weapons hidden in cargo containers. It also holds a distributor agreement to sell a passenger weapons scanning device, ODIN-ULDRIS, which is an ultra-low dose resonance imaging system. In addition, the company offers electronic components; and prototype mechanical and electronic devices to customer specifications. Further, it provides attitude control instruments for small satellites, such as mini momentum reaction wheels based on composite and bearing technology; and offers bearings and star cameras for aerospace applications. The company was founded in 1996 and is based in Covington, Kentucky. History:  INCORPORATED in Florida June 27, 2005, as Quetzal Capital I, Inc. On July 6, 2006, the company acquired Valley Forge Composite Technologies, Inc., a Pennsylvania corporation organized on Nov. 21, 1996, and adopted acquired concern's title. The company issued 40,000,000 Common shares in exchange for all of the outstanding capital stock of the acquired concern.   Subsidiaries: Valley Forge Aerospace, Inc. Valley Forge Detection Systems, Inc. Valley Forge Emerging Technologies, Inc. Valley Forge Imaging, Inc.
Management
	Management Officers Position  Louis J. Brothers Chairman, President, Secretary, Treasurer, Chief Financial Officer, Chief Accounting Officer & Chief Executive Officer Directors  Victor E. Alessi  Eugene  Breyer  Louis J. Brothers  Raul A. Fernandez  Andrew T. Gilinsky  Richard S. Relac  Larry K. Wilhide
Annual Report
	Annual Report   Income Statement   2008 2007 Sales 132,000 - EXPENSES Cost of Sales (72,068) - Loss on Shipped Inventory - (483,268) Selling and Administrative Expenses (1,560,984) (1,230,244) Stock Based Consulting (142,450) (284,900) Interest Expense (208,567) (23,894) Investment Income 3,314 11,186 Earnings before Taxes (1,848,755) (2,011,120) TAXES AND OTHER EXPENSES Net Income (Loss) (1,848,755) (2,011,120) SUPPLEMENTARY INFO Gross Profit/loss 59,932.00 - Operating Income (Loss) (1,643,502.00) (1,998,412.00) Basic and diluted EPS - Continuing Operations (0.04) (0.04)   Balance Sheet   2008 2007 ASSETS CURRENT ASSETS Cash and Cash Equivalents 305,179 88,656 Accounts Receivables 9,492 - Inventory 225,000 460,114 Prepaid Expenses 203,002 42,659 Deposits With Vendors 21,000 222,735 Total Current Assets 763,673 814,164 NON CURRENT ASSETS Property and Equipment, net 51,623 59,747 Loan Fees 208,071 - Capitalized R&d Costs 219,681 - Security Deposit 5,535 5,535 Total Assets 1,248,583 879,446 LIABILITIES CURRENT LIABILITIES Accounts Payable and Accrued Expenses 246,857 128,381 Convertible Debentures 42,000 42,000 Notes Payable - 160,000 Due to Stockholders 326,558 216,558 Deferred Revenue - 66,000 Total Current Liabilities 615,415 612,939 NON CURRENT LIABILITIES Long-term Debt 138,447 - SHAREHOLDERS' EQUITY Common Stock - Par Value 51,415 46,956 Additional Paid in Capital 6,710,904 4,638,394 Accumulated Deficit (6,267,598) (4,418,843) Total Shareholders Equity 494,721 266,507 Total Liabilities & Shareholders Equity 1,248,583 879,446
Interim Report
	Interim Report      Data Not Available
Pro Forma Report
	Pro Forma Report      Data Not Available
Quarterly Report
	Quarterly Report Information      Quarterly Revenue, US$ Year Quarter Revenue   2009   1 Nil   2009   2 310,000   2008   1 Nil   2008   2 130,000   2008   3 Nil   2008   4 Nil   2008   Full Year 130,000   2006   1 1,340,000   2006   4 (920,000)   2006   Full Year 420,000   2004   Full Year 660,000     Quarterly Net Income, US$ Year Quarter Revenue   2009   1 Nil   2009   2 Nil   2009   3 Nil   2008   1 Nil   2008   2 Nil   2008   3 Nil   2008   4 Nil   2008   Full Year (1,850,000)   2007   3 (640,000)   2007   4 (320,000)   2007   Full Year (2,010,000)   2006   Full Year (1,180,000)   2005   Full Year (570,000)   2004   Full Year (370,000)     Quarterly EPS, US$ Year Quarter Revenue   2009   1 (.01)   2009   2 (.01)   2009   3 (.01)   2008   1 (.01)   2008   2 Nil   2008   3 (.10)   2008   4 .07   2008   Full Year (.04)   2007   1 (.01)   2007   2 (.02)   2007   3 (.01)   2007   4 (.01)   2007   Full Year (.04)   2006   2 Nil   2006   3 (.01)   2006   4 (.01)   2006   Full Year (.03)   2005   3 Nil   2005   4 Nil
Stock Data
	Capitalization as of 03/31/2009:     Authorized Shares Outstanding Shares Common $0.001 par 100,000,000 51,415,349 Preferred no par 20,000,000 None   LONG TERM DEBT: $232,968.   Common $0.001 par   Stockholders:  12/31/2008, 59. PRINCIPAL STOCKHOLDERS: December 31, 2008, Louis J. Brothers and Larry K. Wilhide each owned or controlled 36.7% of the Common.   Transfer Agent:  Florida Atlantic Stock Transfer Inc.   Tamarac , FL   OTC Bulletin Board( Primary): VLYF   Exchange Year High Low OTC Bulletin Board 2009 0.9100 0.0800 OTC Bulletin Board 2008 5.4000 0.1200 OTC Bulletin Board 2007 13.5000 2.0000   DIVIDENDS: Common $0.001 par: No cash.