Replies to post #388 on Velatel Global Comm. (fka VELA)

[coldcash]

The BS oN TS doesnt even start until PD has his morning coffee and ramps up his vernacular,
the stage is set , your podium Pd , Take it awayyyyyyy PD !!!!

HA HA HA

[FanPaw]

I assume that legal counsel for Excel Era did caution its client about CHTL's contract to acquire 49% of CECT-Chinacomm. The press release talks about "the request of both investors, for ChinaTel to obtain an extension of an outstanding ChinaTel promissory note related to ChinaTel's right to acquire a 49% stake in Chinacomm Cayman." The Isaac Organization as well is proceeding with deliberate caution.

Further due diligence turned this issue up as a central weak point and it is more than reasonable that the investors insist on CHTL having the extended agreement duly signed on file prior to advancing additional funds.

I am fairly confident that the issue will be resolved, even though it should have been finalized much earlier. With the network build out proceeding all along for many months already, I do not doubt that the relation between CECT-Chinacomm and CHTL is solid and the issue will get resolved soon enough and I expect in good time before the next installment payments on 31. March 2010 will become due.

As an aside, CECT-Chinacomm's CEO Mr. Qui is in Tobin's picture where they recently celebrated the PIPE deal with flutes of champagne; wasn't this during the golfing trip to in Hawaii? I think he is in the boat.