World Surveillance Group Inc (fka WSGI)

[Madmonks]

WSGI sold Lighter Than Air Systems (LTAS), along with the BiB aerostat system, to Drone Aviation Corp. (DAC) back in May of this year. Shortly after the sale, DAC went public when its holding company merged with a public shell company called MacroSolve Inc.

WSGI's poor balance sheet, high expenses, and lack of significant contracts led to the (fire) sale. In exchange for LTAS, WSGI received $335,000 in cash and 10,000,000 shares of DAC common stock.

In case you missed reading it, here is a letter from WSGI's CEO detailing the sale:

http://ir.stockpr.com/wsgi/company-news/detail/1314/world-surveillance-group-inc---letter-to-shareholders[url][/url][tag]insert-text-here[/tag]