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Yo 3531 -
"These people." Like it's been the same person changing costumes and names for 15 years. Your post is Stephen King-like paranoia personified. Careful of the clown in the sewer . . . doh!
bank
Risk,
And on the lighter side, I think you bring up a very interesting point about the WSGI iHUB landscape. There's a "soap opera" type of thinking that keeps people reading and posting on the board here. After all, we all want to be winners - one way or another, don't we? Some maybe try too hard in their posts to be right. I may have been guilty of that from time to time. And that's OK. But, I think we can all agree that the company has provided enough storyline for us to remain riveted, researching, arguing, hoping, figuring, posturing, buying and selling. Some can't get over their past loss and their feeling of being screwed so they stick around for seemingly nefarious reasons, although I'm not sure that's always true. Some did well with their trades and hope it happens again. Some are in it to win it and are bankinonit. (Sorry.) I guess what I'm trying to say is, that no matter what your experiences are in regards to your history with this company, I think a lot of folks who stick around the board (posting or just reading)are looking to benefit somehow personally by wanting to be able to say "I was correct." That may mean being on the right side of the trade or it may mean being on the right side of the argument even when there is no longer a trade.
We can't all be right all the time, but we can all appreciate in one way or another the conversation that this company has provided us.
GLTALS and GLTASS when you have to cover.
bank
Only the insighter knows. Ha.
bank
Well said, Ren.
bank
Oh my eyes are wide open, no need to worry about that. Not many of us expect the sp to skyrocket on news like this. It will only be if the shadow's tricks actually become real down the road.
bank
Good question. I think it's worth noting that the compensation is 300,000 shares, not 3MM or 30MM. This, combined with Glenn and Barbara's salary reductions all bode well for bringing things back in line a bit.
bank
So, DRNE is at a dollar - $10MM asset at the moment. If they are successful at ridding much of the legacy debt at WSGI, another $10MM, let's say, then that is a $20MM delta in WSGI's financial picture. It would seem to me that that is not a best case scenario as someone has suggested, but rather a desired outcome within the plan at hand. If, yes that nasty word IF, the $10MM asset holds up, as I opined previously, this is a huge win for WSGI vs. the potential profit from how many BIBs and WASPs and masts and drones that would be needed to total $10MM? A sh*tload. Insighter, I think this is the part that doesn't make sense to you. You see $335K only. I see millions in assets, debt reduction as part of the deal and an influx of cash to further develop the businesses of Argus and GTC. I also seem to remember someone on the board stating that cash is also going to support DRNE and its business development. I may be wrong about that part, but someone is wanting to make it all work. Professional sports teams make deals all the time that include trading a star for salary cap issues, multiple players that may help the team down the road, etc. Sometimes you have to give to get. And, not always from a weak hand. I hated the La Jolla deal. That was more than stupid. I don't like the fact the company refused to consider discussions with current shareholders regarding funding. But, I like the potential of this deal. I'll like it even more if it really is what it appears to be. We may all lose our entire investment. Let's not be naïve. But we may actually see the fruits of all of this current management's labors. Lastly, I think the best thing that's happened to WSGI in the 5 years I've been around is the hiring of Drew West. I've gotten to know Drew a bit and feel that his work ethic, integrity and business practices will make a big difference in WSGI's future. He's all about increasing sales. And, Lord knows, we need marked revenue increases. This is all IMO.
bank
"I've watching?" Let's not throw stones, please.
bank
So, you're saying the new company is paradigm shifting. Interesting. What makes you come to that conclusion?
bank
The film industry has been using drones successfully for years anyhow, might as well make it legal.
bank
All of a sudden there's a glimpse of misinformation gathering. I'm happy to answer anyone's questions on how it worked lest some here try to rewrite history. Thanks, fly.
bank
I purchased a number of shares through a private placement. What would you like to know?
bank
Airlift,
I think if you can staple jello to a tree, we need to talk about getting you on the talk show circuit. I've appreciated your posts as well. Have a nice weekend.
bank
Insighter,
Your concerns are duly noted. However, allow me to speculate on why this deal may be positive for WSGI, and I stress MAYBE. The following is all in my own humble opinion, of course. Let's say that DAC goes public, and it seems likely from all of the opinions thrown around the board that it will, and their share price is pegged at a dollar. The sale of the LTAS asset to DAC would then be valued at $10,335,000 - $10 mil at a dollar a share plus the cash up front. It would take approximately 33 milspec BIBs to bring in that kind of gross receipts. Now, if you subtract the cost of those 33 BIBs - let's pick a reasonable number because I really don't know WSGI's actual cost - say $150K each - one would have to sell closer to 60 or so BIBs to realize $10 mil in actual cash left over at the end of the day. My question to you and others is this - how long do you think it would take for WSGI to sell that many BIBs? And really, if the investors have a target product in mind, albeit Argus or GTC or both, for whatever reason, and they're willing to invest millions to see it happen, then this deal isn't elegant. It's friggin' brilliant.
There are many things we don't know, obviously, and many other scenarios that may be closer to the truth than the one I presented. I'm all ears . . . And just remember, you can't staple jello to a tree. But, that's only if we assume the jello is the same kind our moms made.
Best,
bank
Short covering?
Well that certainly had nothing to do with my answer to your previous rant. But, since you asked, I see a lot of things floating around. Apparently, you don't. Check out post #152139 and start moving on already.
bank
OK, let's start with this:
- Too much debt.
- Too much dilution.
- Too little sales.
- Too little profit.
- Too many lawsuits.
- High risk of bankruptcy.
- Untapped potential with GTC.
- Untapped potential with Argus.
- Some glimmer of hope with a new investor that might include:
1)Support of GTC expansion.
2)Support of Argus development.
3)Help with legacy debt and recent debt.
4)Survival
- Potential accelerated value of LTAS through the sale to DAC
with a 29% stake assuming new owners have cash to expand
business. (WSGI apparently did not have the cash to do this.
Seems like a better plan, IMO)10,000,000 shares might be
money, might not. Roll your dice, folks.
That's all I got for now.
bank
Is a frog's ass waterproof? :)
bank
Sorry, him being who exactly?
bank
Yes, Run. Connecting the dots and making assumptions is seemingly all this board has to go on in many ways. Maybe that's why "This board is great." This board is, to a large degree, a reflection of the company's personality, no? Very little is known until a material event occurs. So, we compensate by digging, proselytizing and sometimes arguing over what's next. But, we do that because we are in a vacuum a good part of the time. Other than that, given tidbits by the company, all we have is hope. When things don't go according to our own assumptions, our hopes are dashed. Is that the company's fault? Is that our fault? I think equal blame for that disappointment is appropriate. It's easy to blame the company. But, let's not forget that our assumptions are our own. And you know what happens when you assume.
I'm learning to appreciate your posts more and more.
bank
Pretty sure you're on ignore. That means he won't see your posts. Can we stop this now? Let it go. Thanks.
bank
Nice post.
I've been seriously considering going this year anyhow. Still working on firming up my July schedule. If I can go, I'd be happy to report on the meeting. As I recall, recording the meeting has not been allowed in past years.
bank
Understood. Thanks, Ren.
bank
rw,
Yep, I hear your concerns. I feel some of them, too.
To all of us as it was conveyed, it felt like a knee jerk reaction. But, I have a feeling that this thing has been in the works for a while and with good intentions for the company. You can't possibly make this transaction happen overnight. There has to be, IMO, a sufficient time period to get everybody on the same page, you know? This did not happen overnight. I repeat - this did not happen overnight. We see it as a sucker punch. They probably see it as a calculated progression. Do you understand the delta in perception here between us and them? They had the benefit of time and planning. We had the idea delivered as a done-deal.
I don't know if it's right or wrong at this point. I'm just trying to point out the perception issues of "why did we rush into this" versus "we've been working on solutions for a very long time" perceptions.
I hope I'm making sense. it's getting a bit late.
bank
insighter,
Thank you for calmly delineating your thoughts. I have also been guilty of assuming things about this company. Who here has not? Go ahead - raise your hand. . . . that's what I thought. Anyhow, we are stuck with a wait and see approach after all other DD has been done. Communication is certainly lacking from the top. I don't feel that judgement or discernment is lacking, just communication. After all, a "lien-encumbered scam-ridden shell of a company" has survived to produce actual products and a vision of the future, whether all agree on that vision or not, we have a future none-the-less. Kudos to GE and staff on this.
"I believe" in the success of the company. And "I believe" that my patience has been and will be tested on the way to eventual success. Call me a Kool-Aid drinker. I don't care. Bottoms up.
bank
rattle,
With all due respect, I feel like we are turning a corner here. I believe Ren and someone else mentioned the possible involvement of a company called Ladenburg Thalmann. If, in fact, they are part of this transformation somehow, this is good news, not "follow the money" bad news. Check them out. They're legit. Let's just hope (I know - that hope word again) that Glenn has made a good decision for the benefit of the company in engaging advise from experts in the field of investment banking. We sure could use some help in this regard.
bank
As usual, well said Montanar.
bank
flybyday,
I understand that the current envelope design and subsequent tweaks on the envelope was all Kevin Hess; not to mention the milspec Kevlar, tether and winch that sold them on the virility of the system. The resulting stability in higher winds facilitated functionality with many payloads and resulted in a serious capability for the DOD's needs. I'm unclear as to who is credited with the original idea of presenting the platform from a deflated enclosed box condition to fully launched aerostat. It may have arisen from direct discussion with the Army, I don't know. I would defer to IJO on these details, f'ing a-hole that he is, of course. Haha. Thanks neomania for the laugh. I'll bet your house is just a laugh-riot.
Best,
bank
The fact is, bib was not lta's to begin with I don't think. They were helping to build it but the concept and r&d was ours I believe.
It is because of statements like this that people doubt your due diligence. If you had read anything on this board prior to purchasing shares, and I'm beginning to question whether you are who you say you are, btw, it would have been as plain as the nose on your face that Kevin Hess IS the R&D. Do you really think Glenn or Dan or Barbara or Jeff or the General invented and continue to develop the systems? Holy crap! Can you really be this obtuse?
Plus I have a strong suspicion that management is hiding potential contracts in the wings shortly.
I questioned you on this yesterday and you did not respond. Again I ask you - please clarify. Obviously, your class action lawsuit depends on this, so why not make your case right here?
I cannot for the life of me fathom why the whole potential of bib and wasp which the company had been mainly focused on for the last 2-3 years has been sold for a song
And that's OK. Many of us are right there with you. My suggestion would be to open your ears and your eyes and put your keyboard in the closet for a while.
bank
Insighter,
Nice rant. I'm most curious about the orders you feel are round the corner. Please elaborate.
bank
My thoughts as well.
Insighter,
He doesn't owe you or anyone else an explanation. Let it go.
bank
One could say the same for you.
I think calling Glenn neglectful and incompetent without intimate knowledge of what he does day-to-day is simply incendiary.
bank
Probably takes a day or so.
Must be transitioning to the pink sheets today.
bank
Indy a shill? Haha. That's a good one. Don't let your paranoia get the best of you, hogman. I assure you he is who he says he is. Just because he's not posting doesn't give you license to badmouth him.
GLTALS
bank