Replies to post #3831 on Velatel Global Comm. (fka VELA)

[elberteclll]

CMMobile Arbitration Resolved
On October 28, 2013, VelaTel Global Communications, Inc. settled its arbitration with China Motion Holdings Limited. VelaTel refinanced its unpaid balance of the purchase price for the CMMobile acquisition through a third party lender, and took control of CMMobile from China Motion Holdings Limited in a manner that VelaTel expects will allow consolidation of CMMobile’s financial results on VelaTel’s financial statements. CMMobile will continue to expand its business throughout Asia and upgrade the hardware and software of its network core as planned. Complete copies of the settlement and refinance documents are found in VelaTel’s recently filed 10Q Report.

COMPLETED AND RESOLVED.