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Exhibit 10.2
LINE OF CREDIT PROMISSORY NOTE

$ 1,052,631.50
Date: April 26, 2012

FOR VALUE RECEIVED, VelaTel Global Communications, Inc. (“Borrower”) promises to
pay to the order of David S. McEwen (“Lender”) the sum of up to One Million
Fifty-Two Thousand Six Hundred Thirty-One and 50/100 U.S. Dollars (“Principal
Amount”), together with interest at the rate of 10% per annum on the unpaid
principal balance from time to time, commencing on the date hereof.

From each disbursement, Lender shall retain 5% of the amount requested
(“Holdback”) as a set-up fee and compensation for Lender’s due diligence in
connection with this Note.  Each Holdback shall, nonetheless, be added to the
principal balance and shall accrue interest along with the amount actually
disbursed and outstanding from time to time.  The principal sum of this Note
includes a Holdback of up to $52,631.50 on total potential disbursements of up
to $1,000,000.00, or so much thereof as may be disbursed by Lender to Borrower.

The entire Principal Amount, together with all interest accrued and unpaid,
shall be due and payable on the first anniversary from the date hereof
(“Maturity Date”).  Borrower may prepay this Note in whole or in part prior to
the Maturity Date without penalty.  Any partial payments shall be applied first
to costs of collection incident to any event of default, then to interest
accrued but unpaid, then to reduction of the Principal Amount.

Should this Note be placed in the hands of an attorney for collection, Borrower
promises to pay such reasonable attorney fees and other costs of collection as
Lender may incur, whether or not suit is brought.  Borrower hereby waives
demand, presentment, notice of dishonor, diligence in collecting, grace, and
notice of protest.

VELATEL GLOBAL COMMUNICATIONS, INC.

By /s/ George Alvarez                                                          
     George Alvarez, its Chief Executive Officer
 
 
 
 
 
 
 

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