Velatel Global Comm. (fka VELA)

[tynich01]

the Company incurred a net loss of $15,273,243 for the nine months ended September 30, 2013. In addition, the Company had negative working capital of $46,803,354 and a total deficiency of $49,120,207 as of September 30, 2013.



The Company requires substantial additional capital to finance its planned business operations and expects to incur operating losses in future periods due to the expense of deploying the networks and related businesses that are the core of the Company’s businesses. The Company has not realized material revenue since its commenced doing business in the telecommunications sector, and it is not without doubt that it will be successful in generating revenues in the future.