Just changed the name, better defining VelaTel Global Communications Inc.(PINK:VELA) positioning as a key leader in deploying and operating wireless broadband and telecommunications networks worldwide – this is how the latest press release starts. Other interesting facts are also mentioned. There is explanation, however, as to the balance sheet of a key leader. 
Indeed, one might expect a good-looking financial statement from a leader in a given industry. Not the case with VelaTel. This stock has enjoyed vivid activity in the last few days. Trading volumes above 1 million, stock price accumulating value. July 10th closed at $0.1 per share, sixteen days later, the session closed at $0.18 per share. This was yesterday. What this means is VELA reaches level that were last seen back in March, before the steady decline began.
The interesting part comes when one combines the words “key leader” from the press release with the number “8 million”, taken from the latest 10-Q. To be precise – $8.3 million. This is the net loss for the first 3 months of 2011, according to the 10-Q. Other figures from it are:
- $204k in revenues;
- $240 million in accumulated deficit;
- $28 million in total current liabilities;
- $3.89 million in total current assets;
- $3.5 million in cash; [BANNER]
It seems that VelaTel is not in its best financial condition. Maybe one of the reasons why it has been more than 1 year since the stock has seen levels above $1 per share. With the good news at hand, however, there might be indeed a change in the course of the stock price. Uncertainty, nevertheless, remains the main notion at this point.
