Questions for due diligence regarding KW Telecommunications, Inc - KellyWilde; Wave Mobile Barbados; Wave Mobile - St Lucia; Wave Mobile Caribbean; James Dewitt Wilde/Excelsior Soultions Inc. of Pine Hurst NC

  1. Explore the evolution of his pitch decks.
  2. Pay attention to how the CAPEX and equity raise evolves from 07 2021 to 09 2023
    1. Wave Mobile BC 20210808 Barbados ES;
    2. Waves Business Case 20211007 BuildOut;
    3. Waves Business Case 20220104 FS BuildOut;
    4. nl Waves Business Case 20220415 FS BuildOut;
    5. Project Trident JW 20230928
  3. RE: Project Trident
    1. What is the status of the license at this time? Is there an outstanding balance?
    2. How was Mavenir chosen? What other network vendors participated in the bid tender? What is the status of the Mavenir contract? Is it still valid?
    3. Why are several data points woefully out of date, such as the mobile retail prices from Nov 2021? the information about Digicel's financial health?
    4. How large are the Nature's Discount stores and how much square footage will be dedicated to phone services? Is there a written contract for floor space?
    5. Is it possible to run a network with 6 people? 
    6. What are the details of the marketing plan? Does one even exist?
  4. What happens if there is a multi-month delay to launch? How much is in the budget to make it thru a delay?                                         
  5. How cooperative have Digicel and Flow been in the discussions?  Why did Flow reject the interconnection request?                                                                                                      
  6. How will prepaid distribution work?                                                                                                                                                                                                       
  7. What contracts have been signed regarding marketing/launch? Given the lite marketing budget, why has no marketing plan been developed over the last 1+ years?
  8. Why have the two founders, James Wilde and Nick Kelly, not invested a single penny into this project? How has the USD 2 mm+ that was raised been spent and how quickly was it burned?
  9. Why did James Wilde continue to attempt to kick out the Local partner with nonsense like claiming their contract was null and void due to a non-existent misspelling?
  10. Ask James how he handled the insurance claim with the local Toyota dealer. This incident re-enforced the local belief James Wilde is a racist.
  11. Ask James why he spent USD 160k on credit with a local company called Oran, when there were no employees in the office and no prospect for more investor money. What was the product James needed so badly he basically stole it.
  12. Offer James a double shot of rum, preferably XO. Then again, and again, and again, and again.


  • Fun Fact: James Wilde is the only telecom officer to DEFAULT on a network contract FOUR months after signing the contract with Mavenir. This speaks volumes about his incompetent decision making and it was one in a series of baffling decisions.
  • One needs to understand how poor the execution of this project before engaging with James Wilde. You will find a pattern of carefully putting lipstick on a pig than proper financial projections. The same pattern he engaged in at Digicel.

I am CFO of Carib Waves (yes, it is spelled with an “s”) and I ran finance at Wannabe Ozone Wave Mobile until May 2022. I know James lied to you in May 2022 regarding my departure. Otherwise, he would not have been able to sucker you into investing more money after that time. Now that it is the third anniversary of James’s fatal mistake, as well as exhausting all of his asinine ideas to kick the most important person, Gladstone, out of the project and Gladstone has been unable to close a deal. Here is a description of why James failed locally. As for internationally, apparently they sussed out his bullshit.


Chapter 1 – The Light in Front of You is the Truth Train

James did not like the fact that I told him the truth about his efforts of fundraising with the local investors. So, he fired me the first week of May 2022. What I told him was material information that he was required to pass onto you, the investors. Instead, he chose to mislead you once again and he ultimately squandered USD 2.562 mm of other people’s money. Not one penny of his nor Nicks, actually they both made a little bit of money off of their shitshow.

The information I told James was 1) repeatedly told him Nick’s poor reputation in Barbados was an obstacle with the local investors. The locals were unwilling to make an investment in Wave, as it would create millions in wealth for Nick, due to his association with Ozone. A company that went bankrupt in 2019 leaving million and millions in unpaid debt 2) the local investors were also unhappy with the fact that neither James nor Nick had invested one penny in this venture yet they gave themselves millions in wealth 3) I told James the locals viewed his relationship as birds of a feather flock together 4) Digicel and Flow would object to interconnection discussions as long as Nick was involved in Wave – I was proven correct in Aug 2022 when Flow made that statement in writing (did he disclose that letter to you or any other potential investors? )Why did he stop publishing the risk register in the pitch deck?) 5) the locals had concerns about the valuation 6) the locals had concerns about the burn rate as well as poor spending decisions.

The Evolving Discovery of Nick’s Reputation

James first learned about Nick’s poor reputation in 2019 while at Digicel. In May 2021, while we were waiting for Gladstone to finish chasing up the license, I was using an office in Nick’s building. I quickly realized, Nick’s management style was very similar to Digicel’s style, which was very toxic. I relayed this to James and he said he was aware of it, but we had to deal with it for now. The impact of Nick’s reputation was witnessed again in Sept 2021, when a local investor told James he liked the business idea (when it was the unrealistic, if not bogus, USD 6 mm raise to resurrect Ozone), but would not participate in anything that Nick was involved in. Over the next several months, Gladstone introduced me to dozens of people – ranging from potential investors to business-people we could align with. I could not find one person that had anything nice to say about Nick. Of the few people that would comment they said they would not participate in anything where Nick was involved. I passed this information on to James. He brushed it aside and said it was me. Then at a December 2021 dinner attended by Gladstone, James, Seny and myself, James said he finally realized the impact of Nick’s reputation and he was going to push Nick out of daily participation.

In Feb 2022, James had me research ways to buy Nick out of his shares, so Nick could be removed from the company.

The next time the Nick issue arose was in meetings with local investors in April 2022. Due to Gladstone, I was on friendly terms with the locals, whereas James was not. Amongst the reasons the locals did not trust James were 1) he chose Nick as a business partner 2) their in-depth background check of James which included his reputation at Digicel 3) lack of personal investment in the project 4) how he treated the locals 5) the issues he had in Uganda per the newspapers. These locals told me that while they liked the business proposal amongst their concerns was the Nick factor. Thus, they would not invest a single penny if Nick was going to be rewarded. My dismissal made the locals very unhappy, sealing James’s fate with them. Since that time, they have slow rolled him, rather played James like a fiddle.

James and Nick’s lack of investment

In Dec 2021, Gladstone and I had a call with Nick about paying for the spectrum fees because James was trying to avoid paying for them even though they were due. I told Gladstone would Nick refuse to do so, So Gladstone called Nick. Nick’s response to Gladstone’s request was “I will not invest a penny in this telco.” I relayed this story to James and James’s response was “He is right and neither will I.”

The Only Correct Decision

The only correct decision James made from the start of this shitshow, was telling me a couple of time not to invest in Wave Mobile. The first instance was in early summer of 2021. Otherwise, if I had been a fellow investor, you would have received this information in May 2022. At which time you would have had a reasonable chance of selling out to the locals recovering 100% of your investment. Personally, I was astonished at James’s poor spending decisions, as well as disrespect towards the locals. Then again, he was let go by Digicel for a reason.

Lying to Tom Grant

At the end of the first week in May 2022, James, Tom Grant, Gladstone and I went to dinner to discuss Tom’s potential interest. At the dinner, Tom asked James about Nick’s involvement. James, who had sent Tom the list of investors earlier in the day and which I confirmed/explained to Tom, responded that Nick had invested USD 2mm. I was stunned when James stated that lie. That lie caused Tom to shut down the conversation. James and I went back to his place. James asked me what I thought about the locals. I told him all local investors, including Tom, told me they were interested, but would not invest if Nick was involved. The discussion became heated and because James is a washed up, thinned skinned alcoholic, he fired me. James then immediately called Nick and for some unknown reason lied to Nick about our conversation. James made patently false statements to Nick about what I said. The next day, Nick called Tom begging Tom to make the investment. When I met Tom and Gladstone for dinner a couple of days later, Tom asked me why 1) James was telling so many lies 2) Nick was calling him. I told him I had no idea, but it speaks to their character.

James did not pass this material information onto the investors. Instead, James told you Tom was very interested and was going to make an investment. Please review your emails/messages from James in mid-May 2022 regarding the statements James made to you. These statements were made after I told James the none of the locals were going to invest without a restructuring.

I know that James has communicated with Tom a few times since May 2022. Never once did he choose to clarify the lies, he told Tom; ask Tom what his thoughts were about Nick’s involvement; ask Tom about my involvement. I know that Tom’s viewpoint is that it is James’s responsibility to explain himself and his actions. Why did James act like he never lied? Because he did not want to verify, I was telling him the truth.

More concerned about lipstick on the pig than the pig’s health

In April 2022, James was obsessed with making the dying Ozone Wave pig look pretty by spending thousands of dollars on the sign instead of preserving cash. His argument was investors would invest if the office looked finished and ready to move in. I disagreed and stated it was wasteful and another poor spending choice on his part. I knew the local investors agreed with me because his spending decisions were a major concern of theirs. @James - Over the last two years, how many potential investors were impressed with an empty office that had a pretty sign.

Astonishing display of character

Basically, no one in Barbados including Digicel thought highly of James’s character. When the locals learned James chose Nick over me (a longtime ally), they were flabbergasted. He sealed his fate with his utter stupidity and refusing to believe they had him over the barrel.

Fast forward to March 2024, when James tries to fuck over his black business partner while protecting his white business partner. Somehow, James convinced David Sinclair to buyout KW for USD 2.562 mm if Gladstone would leave the venture unpaid. James was so desperate he lied to Gladstone and said the prepaid contract was null and void because of a misspelling. Even if there was a misspelling, no court the world would agree a misspelling voided a clearly defined contract. This behavior further supported the local’s belief James is a racist, just like his white partner.

In a further act of desperation, Gladstone was approached again in Dec 2024. Once again, they were trying to fuck over Gladstone, only this time they wanted to split the buyout money with him and Gladstone had to give up the prepaid contract, while they had a side deal.

Mind you, I told James in Sept 2020, when he thought it was a great idea to compensate gladstone with prepaid revenue instead of shares in the company it was a bad idea. I asked why give control of a revenue stream to someone with zero business experience. I further told him it would be less risky to give Gladstone shares in the company.

What Lies Ahead

I have plenty of notes on the poor decisions James made. This includes, but is not limited to Mavenir, Yacobi, poor spending choice regarding the office, his CAPEX nonsense, Nick’s poor management of the office buildout, his treatment and interaction with employees, his running up a BBD 45,000 legal bill over a weekend chasing Gladstone to return the truck, his behavior with Toyota - where he accused them of not repairing our truck so they could use it as they like because he had seen the same thing in Africa, the Miami group, etc. James had an opportunity to obtain funding in May 2022 if he restructured the company. James’s refusing to do so has led to the imminent bankruptcy. Unfortunately, neither James nor Gladstone followed my separate advice to each of them to sit and resolve their differences and make this work. As both were exceedingly greedy, neither of them could deliver investors as they repeatedly stated. The end result is the only people to benefit from this failed venture is Nick and Gladstone.


Questions James should answer:

  1. Why did he tell Tom that Nick had invested USD 2 mm when Nick was not on the investor list he provided to Tom?

  2. Why did he lie to Nick about our discussion after dinner with Tom in May 2022?

  3. Why has he not explained to Tom why he lied?

  4. Why did he not sit with Gladstone and the local investors to verify their concerns and seek a resolution in May 2022, as I told him to do?

  5. Why did he withhold material information from you, the only people who invested money?

  6. Since he made several, if not dozens, of false or misleading statements and did so knowingly or recklessly? Is it criminal?

  7. Why did he continuously try to rip off the one person who was responsible for opening doors and reward the person whose reputation was a burden?

  8. How much square footage has he contracted for inside the Nature’s Discount stores? Are the stores large enough to host another business, especially one that requires a lot of support?

  9. Does he have any signed contracts or MOUs with the local businesses regarding the launch?

  10. Why is the recent pitch deck littered with out of date data points – Digicel, headcount, prices, etc? Does he not have the professionalism or skillset to make updates?

  11. What is the status of the licenses and how is James going to settle the outstanding balances?

  12. Why did he setup prepaid distribution the way he did?

  13. How is James going to interconnect with Digcel and Flow? How long and how much will a court case cost to settle the matter? Why did he not include a budget for this matter? Why did he ignore my counsel when I told him this would happen? Did he inform the investors Flow sent a written response to him in Aug 2022 stating until Nick’s Ozone debt was settled Flow would not negotiate interconnection? Or his silly little, as well as too late, trick of having Nick resign from Wave was rejected, rather ignored by, Flow?

  14. What is James’s strategy for the Nick problem with Flow and Digicel?

  15. Why has James continuously tried to remove Gladstone from this project? A prime example of his poor ethics is his attempt to cheat Gladstone with the David Sinclair project. Has he briefed you on his strategy to cheat Gladstone?

  16. @DavidSinclair – I suggest you contact your MBA classmate Craig Davis and find out how James screwed him over. If one digs deep enough there is a troubling pattern with James.

  17. I told him May 2022, I was going to shove his balls down his throat, so how do your balls taste?

Anytime James tells people he can make this business work, he is knowingly and recklessly making false and misleading statements. I have personally told him twice he would not be able to overcome the resistance he faces – 1) May 2022 2) an email to him Aug 13, 2023. His efforts since May 2022 have been a complete waste of time and money and yet he continues to believe he can pull this off – clearly the definition of insanity. He owes millions of dollars to the government just like Ozone, in default with Mavenir only 4 months after he signed a contract with them and he knowingly does not have the trust nor respect of numerous business owners in Barbados. His delusions of grandeur do not override the reality he has been under checkmate for two years now. The more money he raises the more money that will be squandered. Unfortunately, he was not able to find more suckers to invest because it would have been enjoyable help pushing him into a larger bankruptcy.

All James accomplished was becoming the first person in telcom history to DEFAULT on a network contract four months after signing it. As well as squander USD 2.562 mm on some very piss poor non-strategic decisions. Practically all his decisions were out of sequence.


As for the American investors, good luck trying to write off this loss. I am sure you have investigated it by now, but you need an actual bankruptcy document before you can write this negligent loss off your US tax returns. Maybe you can recoup something by suing the owners of Wave, I know where some skeletons are.


Of the lessons to be learnt – 1) be careful who you try and fuck over 2) Culture eats strategy every fucking time, especially when you think it is a good idea to piss where you eat.


ww

w.wave-mobile.com, CaribWaves, Carib Waves , Excelsior Solutions Inc., Pinehurst NC, Digicel, https://bb.linkedin.com/in/jameswilde, Nick Kelly, Kelly Group Barbados, https://kellygroupinc.net/, Ozone Wireless

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