VGTel Inc (VGTL)

[JonnyBGood]

The Q1 2015 10-Q was part of the "bringing back into regulatory compliance as a fully reporting company" that the audit, to be completed by the end of October, was supposed to assist with. The audit has more than likely been completed since VGTL was not relying on their own CFO to perform but had engaged the accounting firm of Malone & Bailey to perform. There is no requirement to "file" an audit on the OTC, however, the 10-Q's are required. The 8-K from Amilya stated only that that first 10-Q would be filed "shortly thereafter" and "any remaining outstanding filings soon thereafter." "Shortly" is a relative term in the business world that could allow for 2 or 3 months. It's been 2 so far since the end of October.

If you examine the context of the "legal action" mentioned in the last 8-K that they were attempting to "stave off", you'll notice that it has to do with renegotiating financial debt. You cannot "stave off" legal action or proceedings in a criminal investigation or by the SEC. She then continued in that same line of thought mentioning exploring avenues for raising capital more favorable to the company. Regarding the involvement of VGTL in the latest SEC complaint, VGTL did not funnel those investor's funds into Durante's pockets. A large share of those funds were fraudulently never invested in VGTL where the investors thought they were going. I think any SEC issues with VGTL were primarily in examining the books to track those funds to see who did what with them and where they went along with Durante's manipulation of the stock price. The audit, no doubt, was ordered by AA to assist in establishing the actual financial status of the company.

You'll see the Q1 2015 10-Q filed in January along with an update on all these issues and progress made with the business plan in the form of an 8-K, along with perhaps a VGTL twitter account for smaller and more frequent updates than the 8-K's provide.

January is the month for VGTel.