Weeks of decline have passed for VelaTel Global Communications Inc. (PINK:VELA). Announcements and 10-Qs certainly did not improve the situation. It was high time for promoters to take a chance. 
On the other hand, decent trading volumes support VELAs development on the stock market. Declining or increasing price, vivid trading activity could be seen every day. The last one this Wednesday saw a volume of over 1 million shares exchanging hands. It was also one of the few sessions that would enjoy an increase in the share price. Not exactly inspiring (less than 1%), but still better than the previous sessions.
These 1 million shares yesterday were actually most probably a result of the promotion that came out in the morning. Promotion that costs $21.6k. As mentioned, there was no major change in the share price.
Now, one reason why this decline continued for more than a month could be the figures in the financial statements of VelaTel. There is a 10-Q that came out in August, covering the second quarter of 2011, which includes the following: [BANNER]
- $115k in cash;
- $449k in total current assets;
- $24.7 million in total current liabilities;
- $242.6 million in accumulated deficit;
- $168k in revenue;
- $2.4 million in net loss;
Certainly, not the best balance sheet out there, not inspiring at all. Uncertainty would persist on the market until a major positive change appears on the balance sheet.
