This is my maiden post here, even though I have been tracking (pardon the pun) wsgi for a little bit.
Just would like to share my few superficial observations and opinions about recent events.
1) wsgi is a small company with few staff and very exciting technology, recovering from the bs of prior management and surviving through a season of low funding. The step of suing to dissolve the death spiral funding from ljc was a move in the right direction even if it should really have happened MUCH sooner.
2) traction is happening rapidly on wsgi's 2 current engines of growth:
a) Gtc selling satellite tracking online services, and airtime. This should provide (since I presume the nature of satellite business to be a constant monthly revenue rather than a once off) a stable income source that would increase and hopefully turn wsgi cash flow positive every month. This will probably result in reducing the risk to investors and the need for survival funding in the weeks and months going forward.
b) The superstar of the show going forward seems to be the small tactical unit that is bib. Detractors were saying that the first 2 units were not substantial and wanted a follow- on order as proof of the acceptance and usefulness of the technology. Well, we HAD a follow on larger order for 5 units,that is likely in the order of $7 figures. I feel that if all goes well and accepted as protocol,the orders can be in the magnitude of thousands. If you do the math, you will understand my interest in this tiny penny stock with blockbuster potential.
There are 3 weaknesses that must be addressed:
1) the negative perception that this company due to prior management - perhaps another holding company should be created to buy this one with a one to one share exchange, and then restructure to enable all clean assets ( both intellectual and physical ) to be separated from the toxic wsgi shell.
2) immediate funding requirements for the build out of orders - I feel that creation of a newco devoid of mm vultures on its back, negative perceptions that were historical but should not be attached to current management and associated historical loans may be necessary for serious new investors to come on board. I feel that the newco could also carry out share offers to current investors to buy more new stock thereby keeping dilution minimal and yet meet needs for new funds.
3) the incredible number of shares due to stupid financings - maybe instead of one to one exchange to newco,it should be a 10 to one or 100 to one exchange, in effect doing a stock reverse split at the same time.
My thoughts on 8 k is neutral to positive. If they were paid in cash, they would have been able to buy a similarly huge number of shares on the market. Better to have all in the company believe strongly enough in the company to even accept pay in pure shares, and motivated to make their investment and efforts worth more.
For those who are critical and say they are getting cheap shares,my question is this: who is stopping you from availing yourself and mopping up these cheap shares yourself? You can get the very same cheap shares now. We all know that this valuation is ridiculously low for the current growth trajectory and potential of this company. This is your opportunity to mop up cheap shares that are being sold off by idiot MMs who don't know up from down. After all, we know that you cannot keep something that is lighter than air down for too long! ;) To quote MY favorite superhero in red underwear, up up and away! .... all the best to all.
