VelaTel and ZTE signed a memorandum of understanding (MOU) for global strategic partnership in August of 2010 to advance both parties’ interests in delivering innovative telecommunications solutions to individual, enterprise, and government consumers worldwide. ZTE is our preferred and primary provider of customized equipment, software, consumer products, operational services and financing for high speed wireless broadband telecommunications networks VelaTel is deploying in the PRC, Peru, Eastern Europe, and other markets VelaTel enters in the future.