POTRAZ, says the article, has written to Zachary Wazara an entrepreneur associated with the company, ordering the company to switch off its telecoms equipment by 10 September or face legal action. The company has also been ordered to pay the fees due to POTRAZ amount to $2.4 million by the same date or risk legal action.
Asked by the paper about the letter, Wazara is said to have responded that he’s no longer answerable to Valley Technologies issues as he is no longer a shareholder nor director in the company. Valley Technologies, Wazara said according to the article, is now owned by Lalela Trading a company associated with Afrasia Kingdom.
You will remember that Brodacom assets went under the hammer in April (and then, again in May we’re told). We are working on a feature on Brodacom/Valley/Spiritage story so please check back in coming days.
Once upon a time I remember Broadacom placing daily adds just to spell the name Broadacom. They started spending so much money before having subscribers on the network. I am seeing another IAP following them son.These failed start ups are painting a very bad image of – VoIP.
@3545749d8fe30024d5c56621c0ae0a79:disqus is Utande the other IAP?
whats happening at Utande?
They posted another loss.
In the interim period to June 30 2012 the Telerix incurred a loss of US$2,8 million against US$1,5 million last year. Masawara’s share of loss was US$1,4 million compared with US$763,000 in the interim to June 2011.
Masawara Plc said this performance was in line with expectations, due to the fixed operating expenditure incurred for the WiMAX network, and costs related to the testing, marketing and launching of the WiMAX network.
source: http://www.herald.co.zw/index.php?option=com_content&view=article&id=53793:masawara-suffers-us42m-loss&catid=41:business&Itemid=133#.UelKK9-k2hM
I hope you do realise $2.8miilion dollars is nothing in the corporate world…Trust me, I work for a pretty large one and you’d be astonished at the amounts that one can call “losses” yet the company keeps moving. And it was cleared up in the previous postings that Utande’s/Umax’s losses were due to investment which infact is a good thing if you stop thinking short sightedly.
tru, some of those loss could be under “depreciated assest” and henceforth doesnt neccessarily spell out money having left the firm or it bng less liquid..
….. what happens to the gadgets we bought. Is there an IAP willing to adopt them and keep us online on those gadgets?
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