January 27, 2015 - The case was stayed.
July 29, 2014 - The court granted in part and denied in part the defendants' motion to dismiss.

May 12, 2014 - The lead plaintiff filed an amended complaint.

April 28, 2014 - The court granted a single defendant's motion to dismiss and granted lead plaintiff leave to filed an amended complaint.

January 17, 2014 - The defendants filed a motion to dismiss.

January 10, 2014 - The lead plaintiff and lead counsel were appointed.

December 9, 2013 - A lead plaintiff motion was filed.

October 14, 2013 - Valley Forge Composite Technologies Inc filed for Chapter 11 bankruptcy.

September 25, 2013 - An investor in shares of Valley Forge Composite Technologies Inc (OTC: VLYFQ) filed a lawsuit in the U.S. District Court for the Southern District of California against Valley Forge Composite Technologies Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between January 1, 2009 and February 6, 2013.

According to the complaint the plaintiff alleges on behalf of all persons or entities who purchased or otherwise acquired Valley Forge Composite Technologies Inc (OTC: VLYFQ) between January 1, 2009 and February 6, 2013, that the defendants violated the Securities Exchange Act of 1934.

More specifically, the plaintiff alleges that the defendants manipulated the market price of Valley Forge Composite Technologies Inc (OTC: VLYFQ) common stock by allegedly falsely representing and/or omitting material information regarding the nature of its products and sales revenues.

The plaintiff claims that defendants allegedly falsely represented that all or nearly all of Valley Forge Composite Technologies Inc's revenues since 2009 were derived from the sale of aerospace products called momentum wheels, while in reality, Valley Forge Composite Technologies Inc's revenues were derived primarily from the alleged illegal export of semiconductors to Hong Kong.

The plaintiff says on February 6, 2013, Valley Forge Composite Technologies Inc publicly revealed allegations by the U.S. Attorney's Office that it had exported more than $37 million worth of military semiconductors to Hong Kong since about 2009 in violation of the International Traffic In Arms Regulations and that it also reported that the U.S. Attorney's Office had seized Valley Forge Composite Technologies Inc’s bank accounts.

Valley Forge Composite Technologies Inc reported that its annual Total Revenue increased from $3.20 million in 2009 to $18.68 million in 2011 and that its Net loss of $2.04 million in 2009 decreased to a Net loss of $1.48 million in 2010.

Shares of Valley Forge Composite Technologies Inc (OTC: VLYFQ) grew from $0.08 per share in February 2009 to as high as $2.61 per share in May 2010

Then Valley Forge Composite Technologies Inc reported that its annual Total Revenue declined from $18.68 million in 2010 to $14.99 million in 2011.

Shares of Valley Forge Composite Technologies Inc (OTC: VLYFQ) declined from $2.61 per share in May 2010 to as low as $0.02 per share on October 7, 2013.

On October 17, 2013, Valley Forge Composite Technologies Inc (OTC: VLYFQ) shares closed at $0.029 per share.