World Surveillance Group Inc (fka WSGI)

[fathem]

I grabbed what I found to be material out of the WSGI 8k.
I'm still not sure if the WSGI 10m shares of DAC are common or preferred. Based off of the authorized shares of common stock ONLY WSGI would be a 10% share owner. Watching the Edgar will clear that up as they should be filing schedule 13d if this company is public...

http://en.wikipedia.org/wiki/Schedule_13D
"Schedule 13D is an SEC filing that must be submitted to the US Securities and Exchange Commission within 10 days, by anyone who acquires beneficial ownership of more than 5% of any class of publicly traded securities in a public company. A filer must promptly update its Schedule 13D filing to reflect any material change in the facts disclosed, including, among other things, the acquisition or disposition of 1% or more of the class of securities that are the subject of the filing."


http://www.sec.gov/Archives/edgar/data/919742/000110262414000751/exh10_1.htm
SECTION 4.03. Capital Structure. The authorized capital stock of the Parent consists of One Hundred Million (100,000,000) shares of common stock, par value $0.0001 per share, and One Hundred Million (100,000,000) shares of preferred stock, par value $0.0001 per share, of which (i) 34,100,000 shares of Parent Stock are issued and outstanding; (ii) no shares of Parent preferred stock are issued and outstanding and (iii) no shares of Parent Stock or preferred stock are held by the Parent in its treasury. Parent does not have any stock purchase warrants or stock options outstanding. No other shares of capital stock or other voting securities of the Parent are issued, reserved for issuance or outstanding. All outstanding shares of the capital stock of the Parent are, and all such shares that may be issued prior to the date hereof will be when issued, duly authorized, validly issued, fully paid and non-assessable and not subject to or issued in violation of any purchase option, call option, right of first refusal, preemptive right, subscription right or any similar right under any provision of the Nevada Revised Statutes, the Parent Charter, the Parent Bylaws or any Contract to which the Parent is a party or otherwise bound. There are no bonds, debentures, notes or other indebtedness of the Parent having the right to vote (or convertible into, or exchangeable for, securities having the right to vote) on any matters on which holders of Parent Stock may vote (“Voting Parent Debt”). As of the date of this Agreement, there are no options, warrants, rights, convertible or exchangeable securities, “phantom” stock rights, stock appreciation rights, stock-based performance units, commitments, Contracts, arrangements or undertakings of any kind to which the Parent is a party or by which it is bound (i) obligating the Parent to issue, deliver or sell, or cause to be issued, delivered or sold, additional shares of capital stock or other equity interests in, or any security convertible or exercisable for or exchangeable into any capital stock of or other equity interest in, the Parent or any Voting Parent Debt, (ii) obligating the Parent to issue, grant, extend or enter into any such option, warrant, call, right, security, commitment, Contract, arrangement or undertaking or (iii) that give any person the right to receive any economic benefit or right similar to or derived from the economic benefits and rights occurring to holders of the capital stock of the Parent. The Parent is not a party to any agreement granting any security holder of the Parent the right to cause the Parent to register shares of the capital stock or other securities of the Parent held by such security holder under the Securities Act.

SECTION 4.13. Title to Properties. The Parent does not own any real property.

SECTION 4.14. Intellectual Property. The Parent does not own any Intellectual Property Rights.

SECTION 4.21 Issuance of the Parent Stock. The 10,000,000 shares of Parent Stock are duly authorized and, when issued in accordance with this Agreement against delivery of the Company Shares by the Shareholder, Shareholder will receive good title to such shares of Parent Stock, and such shares will be duly and validly issued, fully paid and nonassessable, free and clear of all Liens, other than restrictions generally imposed by federal and state securities laws. The issuance of the shares of Parent Stock to Shareholder is not subject to any preemptive or similar rights to subscribe for or purchase securities.