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Wow how exciting for you to bandwagon LJC's case. I guess when you report the goings on about a year from now it will be exciting for you then as well? I would think the case will have been settled a year from now but if not am sure discovery and depositions will be fun for you to report on as well? I never assumed the shorting case would have legs without a forensic trading investigator any way since shorting from the box is difficult to prove. Get it?
With Frost involved less likely to slide IMO.. Asset value for WSGI may actually increase. Has not meant anything yet for our shares but may soon. IMO
Who cares? Trial is in another year Coasti maybe you can report all the news again then? What I was saying is that most judges are not aware how short boxed strategies work anyway .. Get it?
Of course most manipulative shorting happens from boxed positions there is no borrow. Still hard cases to prove without ample investigation and discovery.
I agree discovery will generate settlement offers IMO.. Highly doubtful that LJC will want a full trial.
Unfortunately rwe none of that belief in Glenn has translated a trickle in WSGI.
Great points Hearmeout, no evidence whatsoever execs at corp are involved in revenue enhancing activities. GTC has been managed by DP and hopefully soon US sales reps, and the Argus is being developed by Trident and the consortium. Likewise I would hope we are no longer wasting credit card expense on trips between NJ and Miami.
Keep in mind that GTC revenues of the corresponding time period included two BIBs so even similar revenue would be highly promising.
I think that is the sound of Drew's comments however GTC has had decent growth already over the last year. I'm interested to see the quarterly upcoming to see what net we are arriving at and whether total revenues are now a million or more. I think Drew was commenting on a larger marketing and build out effort on behalf of GTC and seeking a full team and resources on its behalf? I would be interested to know how far the Argus is a long towards new goals? The consortium had had it a while now, hopefully this endeavor is further along than we think? Indy has spoken to under promise and over deliver several times and perhaps Drew thinks similarly?
You already know I'm not impressed where Glenn has taken us but I do think changes have started to happen. I think the plan for debt reduction should have already been known in the last two years, likewise a GTC sales person or team added and the Argus should not have been shelved this long. Hopefully these type of errors and lousy dilution filled funding deals are in the mirror finally? IMO
If we are going to become a message board of political commentary and historical review this will become even more silly(if that is possible) as a stock board. We could fill up this board with the perception of mistakes made of the last two presidents and administrations alone (Bush/Obama) for weeks on end.
I agree Rwehapi, it is good to know his motives were perhaps genuine. However if the share structure of DRNE is indeed 140 million plus shares owned then the sale was haphazard and not well thought out to this group? Who else was considered, what funding opportunities were explored? Was he aware of the share structure?
Very true ifs but that is the goal. Thanks again The good news since the LTA sale is Drew's Chairmanship. Can't help but like his no nonsense approach.
Thanks Bank we are in an increasingly dangerous position of that happening so may have to be activists at some stage IMO. A reverse handled after debt reduction and Argus development could benefit us if it yielded a big board but we need achieve a real share price and stable sustainability prior IMO
Thanks again Bank, I find Glenn's response about a reverse exceedingly troubling. How could a reverse aid shareholders presently? Putting such decisions in the hands of this guy is dangerous IMO especially considering his relationship with these consultants and funding group. Since when did one of his decisions actually benefit shareholders? When did our share price rise and value increase? He could have easily said we won't consider reverse until the share price is viable and a reverse takes us to another board but he did not. I find that very worrisome and reenforces my opinion that he needs to resign. Hope I'm wrong about his plans.
Thanks Bank, much appreciated review of the meeting.
Did Glenn mention his meetings with Homeland Security and demonstrations of the BIB conducted? Does he think any possible sales to those entities are delayed as well? How did he address the small percentage of DRNE we ended up with when all 140 million shares owned are accounted for against our 10 million?
Thanks again
Probably only doing a million a quarter or so now I think WSGI shareholders will be glad they own GTC despite your concerns.
Also I have a little faith that the consortium is adding some potential strength and changes to the Argus in spite of your committed bias doubtful it is really the same unit entirely.
Looks like GE slipped into obscurity this meeting. David Phipps works out of the UK. No reason to attend people will see his efforts through the next financials. Besides he works for the company but is not an officer.
We know they are and have made changes, the propulsion system has been highlighted. The consortium are solid companies, lets see what they come up with? A solid business plan is a good new beginning.
I have spoken to the need for change in leadership IMO and Drew West is a good beginning hopefully we achieve more change soon.
DUH??? GTC has viable products, the Argus can be a viable product both mid-air and strat? Every design team that creates success also has a business plan. There is nothing wrong with the products or the potentials.
Thanks Rwehapi, Yes I like Drew's approach as well, methodical and analytical on point and clear. I agree we have no idea with his other obligations the time he is able to devote here but in light of our current CEO's "progress" over the last four years I would love to give Drew a chance as CEO. Sometimes change is just essential to restore some credibility and positive perception.
We have heard from our present CEO through several shareholder meetings how much better the next year will be.. Well after massive dilution and a share price less than 5% of the value when he started
I doubt many of us feel warm and fuzzy about the future under his leadership? Give someone else a chance Glenn for all of us including your own shares? It is time for a change! IMO
Its pretty clear Insighter is aiming where the buck stops and starts for the last four years Estrella. After a 95% share price reduction, a dilution causing inept funding through LJC, no US GTC build out, LTA sold for peanuts after sales to the military for a 10 million share stake in a shell game with 140 million shares owned, not to mention just now working on the promissory debt reduction... it is time for a new EXEC, CEO and where the buck stops person.
Having helped with funding in the past I can say that new leadership is essential to gain positive financing now. Drew is a solid start as Chairman. Now we need to address the CEO and BOD. The share price is in the toilet only a positive business plan with a responsible and fresh CEO can save this company. GTC growth, debt reduction as well as mid altitude and strat building for the Argus is a sustainable potential. IMO
Agreed Be anxious to hear updates concerning the Argus and US sales efforts and representatives for GTC.
I also think we need to ask our CEO why he thought 350k was a fair price to sell LTA? Especially in light of DRNE marketing efforts highlighting its leadership position in a multi-multi billion dollar industry? Also was he aware when securing 10 million shares that the public company (shell)of DRNE would already have 140 million+ shares owned? Did he know and understand the insane preferred share distribution? Also did he actively seek other buyers for LTA in hopes of yielding more capital for WSGI shareholders?
Would also be interested if Dan Erdberg, K and F Hess, Our CEO, and anyone else affiliated with WSGI acquired shares in the new DRNE entity?
Lots of curious questions...IMO
Of course Holter would just like his pronouncement at the shareholders meeting.
Hopefully you will hold our CEO's feet to the fire make him declare a candid answer on intentions of a reverse and when? Shareholders have a right to know that answer Bank. Thanks And by the way if he suggests he is waiting for his consultants advice I think that is good indication he is not fit for the job of CEO! IMO
This CEO has lost all credibility Bank. He has barely come out of his shell since he sold LTA for peanuts. It is time to start fresh and that begins with his realization that he has lost his shareholders entirely. The share price speaks for itself. If he and the BOD have a positive replacement it is best for all concerned including GE that he resign. His shares need value as well he can't just hang in the shadows with his new "friends" or "angels" and expect his shareholders to do anything but demand change.
Let us hope Drew is the beginning for fresh change, now we need new BOD members and a new CEO. GTC and the Argus have value but none is realized due to management. This share price and dilution are part of this guy's legacy.
Of course reaching beyond the acumen of an investment banker to that of a business person? Is that what you would like to see? LOL we all would. I think that perhaps your judgements of business acumen are not always tainted by reality look at what the present board and CEO have accomplished before you infer another could not do a better job? Probably more successful business experience on this board than meets the eye?
I'm guessing here Be that much of this is dated past statute of limitations for collection as well as some sizable Promissory notes that had questionable origins? Past that would think continued arrangements and settlements? What are your thoughts?
Yes Rattle I agree we need to shed light on the 25 names and in addition the owners of the preferred to substantiate how this sale of LTA was truly arranged. The current share price of WSGI does not indicate trust and good will. Many have sold due to the manner of this sale IMO....
I'm not saying these shares will not be closely held Indy? Perhaps that is what you mean? I highly doubt this group have any immediate desire to see the price slip? They funded at .50 after all that should indicate a likely line in the sand for a closely held company imo... Never the less the preferred is part of the market valuation and potential outstanding and float going forward. Whether it be the A or restricted shares such as WSGI owns. There are also poison pills that use Preferred shares and company owned Preferred so I said before until we know ownership we have no clue regarding intentions. They are part of the potential outstanding and float for valuation purposes as they are apparently issued with owners. But I don't expect the valuation of DRNE to fall very soon if at all.
It is just logical if the preferred are owned by an individual or entity Indy? Why would they never register shares? The valuation would still have to be assumed that they would? The shares are still accounted for and distributed as Preferred? If you owned them how would you value them?
If the ownership of the Preferred is any other than Drone Aviation Corp one has to assume full dilution. This makes GE's transaction very shaky to end up with little cash and such a tiny percentage of the ongoing DRNE entity in his sale of LTA. I along with Rattle and others will be anxious to know all the holders as this transaction comes out of the shadows. It certainly smells on the surface and it is doubtful anyone that looks at it rationally could consider it otherwise. IMO
Absolutely Indy a toast to Drew and others that have given so much of themselves and helped assure the Independence this day reflects!
Agreed, plus after debt reduction and GTC acceleration as well as potential of the Argus I doubt the financial consideration in total of LJC will be so concerning?
What do you think is the total extent of financial vulnerability to LJC if they prevail utterly? Of course if so may be a year or two away still?
That is good news Rattle! Hopefully progress is happening on all fronts. I don't think LJC is the major worry currently esp after debt reduction but agree they need positive revenue enhancement.
How do you address the question of the series A Preferred shares Indy? Would make a major difference in the quality potential of this deal if the real float settles where you suggest. Thanks.
Very likely sadly Rattle.. I hope we are wrong actually but when something smells instinctively bad it likely has a reason.
Of course Rattle the 250k sustainment contract helps demonstrate that cash to WSGI was ridiculously low.. The sale was poorly executed period. Time will tell the nature of all involvements. The value of DRNE is an enigma.
Agreed Mt bigsky, I think the future of the BIB is very bright still.. They just received a sustainment contract for Fort Polk yesterday. Every NIE review of the Wasp thus far favorable..
Thanks Rattle much appreciated