SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of ~~the Securities Exchange Act of 1934~~

The ~~Date~~Securities ofExchange ~~Report~~Act ~~(Date~~ of ~~earliest~~1934 ~~event reported): April 16, 2003~~

VERTEL CORPORATION
(Exact Name of Registrant as Specified in Charter)
California	0-19640	95-3948704
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)
21300 Victory Boulevard, Suite 700, Woodland Hills, California			91367
(Address of principal executive offices)			(Zip Code)
Registrant’s telephone number, including area code: (818) 227-1400
N/A
(Former name or former address, if changed since last report)

Date of Report (date of earliest event reported): June 16, 2003

~~Item~~Commission 5.File ~~Other~~Number ~~Events~~0-19640 ~~and Required FD Disclosure.~~

~~Pursuant~~VERTEL toCORPORATION four six-month term Secured Promissory Notes and a related Security Agreement, each dated April 16, 2003, Vertel Corporation, a California corporation, raised gross proceeds of $210,000 for additional working capital.

Item 7	FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
	(c)	EXHIBITS.
	10.1	Secured Promissory Note, dated April 16, 2003, between Vertel Corporation and North Sound Legacy Fund LLC in the amount of $4,300.
	10.2	Secured Promissory Note, dated April 16, 2003, between Vertel Corporation and North Sound Legacy Institutional Fund LLC in the amount of $48,400.
	10.3	Secured Promissory Note, dated April 16, 2003, between Vertel Corporation and North Sound Legacy International LLC in the amount of $47,300.
	10.4	Secured Promissory Note, dated April 16, 2003, by and among Vertel Corporation and SDS Merchant Fund, L.P. in the amount of $110,000.
	10.5	Security Agreement, dated April 16, 2003, by and among Vertel Corporation, SDS Merchant Fund, L.P., North Sound Legacy Fund LLC, North Sound Legacy Institutional Fund LLC and North Sound Legacy International LLC.

(Exact name of Registrant as specified in its charter)

-2-

California

0-19640

95-3948704

(State or Other Jurisdiction

of Incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

21300 Victory Boulevard, Suite 700, Woodland Hills, California 91367

(Address of principal executive offices) (zip code)

(818) 227-1400

(Registrant’s telephone number, including area code)

Item 5. Disclosure

On June 16, 2003, Vertel Corporation (“Registrant”) announced the appointment of Michael A. Sternberg as the interim Chief Executive Officer of the Registrant. Mr. Sternberg has been a director of the Registrant since August 2002. This action followed the resignation of Marc Maassen as CEO and director on June 15, 2003.

Item 7. Financial Statements and Exhibits

(a)

Not applicable.

(b)

Not applicable.

(c)

EXHIBITS. None.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, ~~hereunto~~thereunto duly authorized.

	VERTEL CORPORATION
	(Registrant)
Date: April 23, 2003	By:	/s/ MARC E. MAASSEN
		Marc E. Maassen President and Chief Executive Officer

VERTEL CORPORATION

-3-

	(Registrant)

Dated: June 17, 2003	By:	/s/ T. JAMES RANNEY
	T. James Ranney Vice President, Finance and Administration, Chief Financial Officer and Secretary (Principal Financial Officer and Principal Accounting Officer)

3 ~~INDEX TO EXHIBITS~~

Exhibit No		Description
10.1		Secured Promissory Note, dated April 16, 2003, between Vertel Corporation and North Sound Legacy Fund LLC in the amount of $4,300.
10.2		Secured Promissory Note, dated April 16, 2003, between Vertel Corporation and North Sound Legacy Institutional Fund LLC in the amount of $48,400.
10.3		Secured Promissory Note, dated April 16, 2003, between Vertel Corporation and North Sound Legacy International LLC in the amount of $47,300.
10.4		Secured Promissory Note, dated April 16, 2003, by and among Vertel Corporation and SDS Merchant Fund, L.P. in the amount of $110,000.
10.5		Security Agreement, dated April 16, 2003, by and among Vertel Corporation, SDS Merchant Fund, L.P., North Sound Legacy Fund LLC, North Sound Legacy Institutional Fund LLC and North Sound Legacy International LLC.

-4-

Filing Compare · VERTEL CORP