Replies to post #9244 on Velatel Global Comm. (fka VELA)

[jjj373]

Very interesting. Thank you. This will have no direct effect on Velatel.
As I have posted many times - to the utter dismay of one x-poster in particular - this not unexpected outcome will not effect VELA as they were not a litigant. I suppose that this now could give Velatel grounds to file their own action against Ironridge/Global but imo that would be a very lengthy and costly lawsuit with no certain outcome. Not likely.

Referring to 1. "realizing proceeds of approximately $56 million and net profits of approximately $22 million." I'd say that Ironridge didn't do too badly with this after all. Even with the $4,400,000 fine and a slap on the wrist from the SEC.

Lastly, typical of hedge fund financing. Companies enter these lop sided agreements because they are ignorant, desparate, or complicit and/or
a combination thereof. Creates liquidity in the stock.