I checked the Weiss financial rating yesterday for VELA and it shows a rating of "D". Two things about this: first I was surprised that it even had a rating, and second I was surprised that it was even rated at a "D" level, considering VELA's financial statement per the last 10Q. Weiss usually does not rate penny stocks...so why this one?
A rating of "D" is poor, however it would imply that as bad as things look for VELA, there must be substantial financial backing for VELA to survive as long as it has, and to be rated a "D". Assuming the business is in the beginning months of taking off, we can hope that revenues begin to pick up and some of their debt problems are mitigated soon. Only time will tell.
