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Ironridge Will Dump When Bid Is Substantial
George admitted in that email that Ironridge will not be paid off until next year. Therefore Ironridge is waiting for enough buying power to dump into.
Door #2
Never Expiring Option, Sure - Until Reverse Split
So while you may think there is a floor, all Georgie-pooh has to do is reverse split the shares and you and all other shareholders are screwed. Again.
Ironridge Dilutes Faster
Authorized shares are not affected, however the outstanding shares are.
If VELA has 6 billion shares and pays off Ironridge, the OS stays at 6 billion.
If Ironridge is not paid, then they will request more shares...say half a billion.
OS goes up to 6.5 billion, and so on.
If he had any brains, George would want to stall to try to find a way to pay off Ironridge, thus keeping shares lower. If not, Ironridge requests more and the OS goes up, up, up.
JJJ Provided Your Answer
In short:
Ironridge asks company for shares.
Ironridge dumps stock.
Ironridge asks for more shares.
If there are no buyers, then Ironridge can not sell existing shares, nor ask for more. I am assuming a hope of George Alvarez would be to string this along to get enough cash to pay off Ironridge, but we all know that will not be happening.
That is why a deal with the white knight investor was a no-brainer, as it would have stopped dilution. The company would have been less diluted, George Alvarez would have looked like a smart person for once in his existence, and the investors (and all shareholders) would have seen the stock price rise dramatically on a percentage basis.
I do not understand why George ignored this opportunity and I also do not understand why people here who comment are not 1) alarmed by this and 2) why they are not asking these questions.
The most important question to know the answer to (aside from the one I have been asking about the white knight investing group) is how many shares are owed to Ironridge Global.
Anything else George Alvarez spews is meaningless banter, because none of it matters unless Ironridge is gone.
Only "Colin & I"? But Why?
You forgot to ask him about the white knight investing group that wanted to put money into this and why George would not take money to take out Ironridge Global. That is the only issue I am concerned with any more. The rest is the same garbage.
"Early next year"... would May 31 be considered "early next year"? This is how George Alvarez operates.
"The SEC simply does not care". Really, Sherlock?
I have always said the SEC would never save George and for him to believe it would happen or lead others to think so is wreckless.
What a failure and a joke.
Ironridge will continue to dump and those who actually buy will create even more dilution.
At .0001 Valuation, Could Be Relatively Infinite
George is powerless to stop Ironridge. He agreed to their terms and anyone who buys VELA shares will suffer from those terms. He supposedly had the opportunity to take a deal from White Knight investors who saw value, but he ignored it. It will come out as to why some day. As someone speculated here, George wants to give massive amounts of shares to his family, insiders, etc. If that's the case, he will be in court after it is officially announced.
You Will Probably Find An Ironridge Note On The Door...
...saying they own the joint. George is in their clutches and is powerless to fight them. Buying shares is also fruitless because Ironridge will just dump them when the bid gets large enough. Time and time again we have seen this.
Instead of talking to the "white knight" investing group, George Alvarez chose to ignore them. This is inexcusable and some day we will find out the reasoning for this foolish decision. I am guessing lawsuits will be shortly before or after the fraud is revealed.
The Website Has Always Been A Joke
Like George Alvarez.
Speaking of, has the SEC saved him from Ironridge yet? After all, he turned away his "White Knight" investors, so surely he knows Ironridge is in big, big twubble...
What a fraud this is. Can we just get to the part where it's revealed how George is scamming everyone?
Has The SEC Saved George Alvarez Yet?
LOL
No Reason To Expect It To Change
After all, George Alvarez is MIA and does not care one bit about shareholders.
All Speculation
What is not speculation is that Ironridge/VFIN allowed the bid to rise, and shares were dumped yesterday.
Nothing Meaningful
My data shows there were 10x more shares sold at the bid than bought at the ask.
It Is Common Knowledge
The decline has been due to Ironridge. It has been posted here many times before, and I know I have explained it to you before as well. I will not do so again.
Do I know they will dump this time? Of course not. However, if history serves as a guide, Ironridge will allow bids to add up, then dump shares. It has happened many, many times before. All you need is some basic knowledge of the situation and a pinch of common sense.
Not Weird. Ironridge Is Letting The Bid Grow
Then they will dump.
This has been said on this forum before. In the past, Ironridge has allowed the bid to grow to tens of millions of shares, then they pick a day and dump. Until it is announced that Ironridge is out of the picture, this will continue to occur. Meanwhile, the people who buy are only contributing to the dilution of VELA shares. Or, whatever fraudulent scheme George Alvarez is up to.
George Alvarez Has Said "It's Coming" Forever
If I recall correctly, he also said 4G would be up and running by now and VelaTel would have hundreds of thousands, if not a million new users from StarHub by the end of the year.
Just lies... he is full of crap.
Any remote thought of credibility I had for the man disappeared when he would not so much as listen to a possible Ironridge takeout solution. That is about a clear of a signal as one can get that something shady is going on here. In time, we will know what was going on. Most likely after shareholders take him to court for fraud. I am waiting.
This Is Preposterous.
Precisely. Can Only Be Selfish Reasons.
There is no explanation not to even listen to an Ironridge takeout proposition. George would look like a genius as the stock would soar and the company would finally be taken seriously. That of course, being that the 4G upgrade actually happened as promised and revenue can grow.
So, either the business isn not real/happening or he is sandbagging, waiting to grant a ton of new shares through his Friends & Family plan. At that point it could be considered reverse manipulation - letting the stock suffocate itself and then taking advantage of the low price to benefit himself, friends, family and inner circle.
I Have Thought About It, Kari
As I have opined here many times, this is why it makes zero sense that George Alvarez would not listen to offers to take them out. Instead, the man opts to put the burden on the stock, thus destroying value and ruining shareholders? This is why this reeks of fraud with each passing day we do not hear anything from the company.
With All Due Respect...
You should probably read the posts in this forum. There will be no deal because George Alvarez will not listen to outside parties. There was potential of a deal and George ignored it, most likely because of selfish reasons. To your other point, waiting to get saved by the SEC is a fool's strategy. A lotto ticket at best.
Precisely What I Feared About George Alvarez
When I initially heard of this I could not believe it and then I began to wonder why he would not entertain a conversation about something that would potentially solve the company's biggest problem. George letting the stock rot and then giving himself, friends, family and inner circle a "sweetheart deal" is what I kept coming back to. It is the only explanation.
Think about it. The man ignores the capital solution the company has always needed. Supposedly, the company is actually bringing in revenue through China Motion and they may increase it with 4G expansion (if George actually executes something for once). Then, there are no filings and the company does zero press. The only mentions of anything are on the company's website that no one sees.
If George lowballs shareholders just to screw them with a Friends & Family issuance, I have to bet that there will be a line of shareholders waiting to take him to court.
If this theory is true, we may be watching George Alvarez dig his own grave.
George Alvarez Had His Chance With Ironridge
The King of all Idiots would not even listen to a possible remedy for Ironridge. The SEC looked at this case almost a year ago and nothing came of it. Filling up their inbox will not do any good.
George signed a horrible deal which kept the company afloat but destroyed any shareholder value. Ironridge has done this with many other companies as well and they keep doing it. It will take a super lawyer to beat these scam artists, who have figured out how to legally strip companies of any value they may have had. I just do not see it happening.
I strongly believe that Ironridge has someone somewhere shorting each of the stocks they are involved with. That is the only avenue that would be fruitful as far as the SEC goes. However nothing has ever come of it and I highly doubt that anything ever will.
When George opted to ignore a potential solution to the company's biggest ongoing problem, it spoke volumes. The next time Velatel is mentioned regarding legal matters may be when shareholders sue George Alvarez for whatever scheme he is up to. Time will tell what that is.
It's Not .0000, It's A No-Bid
Not much difference, though.
After hearing of George Alvarez's epic idiocy to not even listen to a solution regarding rectifying the Ironridge Global dilution, I am beginning to think he is running a fraudulent operation. I had the view that the company may have had something real on its hands with ChinaMotion Mobile, but this man's inconceivable blundering has destroyed that support. He has no regard for shareholders and he is out for himself, his family, and his inner circle.
I will be in line when the investor lawsuit is filed, as will my contacts who own shares. This, of course, once we see how this ends.
If he grants himself and his Friends & Family Plan more shares, we will have a good idea as to what is going on here. Whatever he is up to, he will not get away with it in the end.
So George Could Have Eliminated Ironridge?!?!
Or he at least had the chance to entertain the possibility?!
As noted on this board, this is the company's biggest problem.
This partner solution would have been one that would have benefitted the company and shareholders immensely. As someone who has been involved in this stock since 2012, this is preposterous, if true.
Every shareholder should email George Alvarez about his ignorance, asking why in the world would he not take the opportunity to pick up the phone and simply ask for more information about something that could help the company. I believe his email address is galvarez@velatel.com.
I can not believe this.
You mentioned that George may be hiding something and this inaction seems to suggest just that. There really is no other explanation for it. It certainly suggests dishonesty, and perhaps fraud.
If this is indeed true and if he grants shares to his himself, family, friends and inner circle after ignoring this opportunity, I will get the shareholders I know together and see him in court. I guarantee it.
The SEC Will Not Save VELA
If the strategy is to hope the SEC saves VelaTel, this thing is toast. At least for those who have invested in it. The George Alvarez Family Trust & Partner Fund will make out just fine, given history.
Has Anyone Else Heard This? (Rumor)
From my circles in SoCal, there are rumblings that an investment firm was interested in investing in/assisting Velatel with an Ironridge payoff fairly recently, but George Alvarez pretty much disappeared in the ways of Kim Jong Un. Has anyone else heard of this, or for that matter, from Mr. Alvarez recently?
I am not putting much into it (because VELA is a stock without a bid) but it would be quite peculiar if at least part of this was true. The biggest query would be why George would be non-responsive to what has been his biggest obstacle in achieving success regarding the share price of VELA. This is why I question the validity of the rumor. Not even George Alvarez would be so stupid to ignore an opportunity to rid his company of its cancer. That is, unless talk from other members of this board is true and he truly does want to keep it all in the family/ his inner circle.
It may be hogwash, but please post if anyone has heard anything similar. TIA
They Were Reported A Year Ago & Nothing Happened
If nothing has happened by now, nothing will, in my opinion.
Also, if the only hope of George Alvarez is having the SEC come to his rescue, this company is going nowhere. Shareholders will see nothing of their investments. Of course, George can grant himself, friends, family etc. all the shares he wants. If this happens, the SEC should be notified of Velatel instead of Ironridge.
My Guess Is 7-8 Billion AS Now
One of the many reasons Mr. Alvarez has not filed.
If Ironridge Was Gone, .0001 Would Be A Memory
This will not move until they are removed from the equation and VelaTel executes, so nothing may happen until 2015.
George Alvarez Knows What He Is Doing
If CM Motion performs, for once, as advertised, I would not be surprised at all if he grants himself, friends, family and noteholders millions if not billions of shares.
Watch for it.
These Guys Have Never Cared About Shareholders
They will probably try to give themselves more shares before the end of the year. I suppose that is easy to do when there are no filings.
That would be investor fraud in my opinion, which would open up a can of worms legally speaking.
There Are No Buyers Left for Ironridge's Shares
Plain and simple.
Send thank you's to George Alvarez.
Ironridge Dumped VELA. Been Going On For Months
We have been saying this here to anyone who would listen.
Now the stock can not catch a bid, yet George Alvarez is talking bubblegum and kittens.
I will repeat, if the Ironridge toxicity is resolved and this recovers because of George's rosey projections, millionaires could be made.
If not, I believe he will be sued for fraud.
K-Dog Should Write George Now At 0.00
If everything is fine, why is his company not worth a hundredth of a cent?
There will either be a lawsuit of epic proportions against this scammer of a CEO, or someone will make a killing since according to him, they are out of touch.
Given history, I will choose the first option.
Agreed. When Ironridge Goes, This Could Fly
Operations appear to be progressing, which should produce a first for VelaTel - real revenue. It is now down to how much dilution is caused by Ironridge Global. If there is less than a million left owed to them (as hypothesized by someone here), it may very well be manageable. Current shareholders would just have to add a certain percentage to their positions to keep up (if they still believe). It all depends on the formula that Ironridge has in place, which has wrecked the share price of VELA.
I maintain that there is a boatload of money to be made here if Ironridge is eliminated from the equation. IF played correctly, someone COULD make a killing on this in the long term by buying anything near .0005 or under. Unfortunately, details are scarce and it is a waiting game to see how long this will play out - and what will be left in the wreckage once that occurs. The word "IF" is always at play with VelaTel, and until that turns into execution, waiting is the name of the game.
That Should Have Happened Long Ago
There have been zero filings while dilution has not stopped.
Dilution Means Shares Are Being Added
Where do you think the recent billions in traded shares came from?
Strong Volume? $600 Worth
Cheerleading is a bad investment strategy.
I Believe You Said This Before...
Find other money, take out Ironridge, and end it. It is not that hard.
It really isn't. If there is indeed less than $1 Million owed to Ironridge, it is absolutely foolish to give away such a large % of the company than is needed. It is downright stupid.
On the other hand, if an entity were to actually come along and help Velatel solve the Ironridge issue, they could make an absolute killing if they soaked up the supply of shares while the stock is at this level. Someone could most likely take in half a billion shares for $100k. If the company were to ever get to a penny or two or three, the profit on that trade would be one of the biggest grand slams in history. Unfortunately, I doubt many have even heard of Velatel.
The opportunity is immense if what has been portrayed is true, but there will be doubters until the company actually posts results.
What we are witnessing here is sheer stupidity or a bigtime scam. I think it is stupidity. I hope it is, at least.
Where would they get the money to do that?
They have none!
Who sold? Ironridge.
We have been saying this for months.