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I just read the announcement about the appointment of Mr. Dennis DeMolet to be President of GTC and to the Board of Directors.
I am a little confused about how the announcement was worded. There is no Board of Directors for GTC, right. So this means that he is appointed to the Board of Directors of WSGI? Comments?
Regards,
Bagelboy
Anybody know who the principals are in the Dover and Denville fund,? Just asking.
R, Bagelboy
Insighter, I certainly did not mean "done " in the sense
you elaborated in your post and if that is the direction that
Glenn is taking the Company, then it would be time for the Board of Directors to act to prevent that from happening.
Regards, Bagelboy.
Well Gotcha Glenn is still the CEO and I would believe he is not finished yet. I am not defending him. His body of work will stand on it's own for you or anyone to judge but let's wait til he is done.
Yes, you are right, Mike Clark left way too early. Why, I don't know but Glenn was left with all the s--t that had to be cleared up which I assume he is still working on.It is very hard to go forward when all this garbage keeps poping up.Does anyone know what the real accrued debt figure is?? I don't think so. See what I mean, Gotcha.
Regards, bagelboy
P.S. Happy Holidays to all.
So that decision regarding the CEO's future employment would be
determined by the WSGI Board of Directors. I have no problem with that.
Regards, Bagelboy
Fly, could you back it down a bit on your opinion of the CEO, please.We all get it. Although he may have worked his butt off these last few years on various projects for the Company it appears at the present time that results are lacking and the s/p is in the crapper and we all know you get paid on results.
Concerning Indy, IMO he has brought a level of civility and professionalism to this board that heretofore was lacking.
Regards, Bagelboy.
Gotcha, don't you mean a dollar buys 435 shares?
R, Bagelboy
Gotcha, I hear you and your right the BIB is quickly deployable in the time frame of 20 to 25 minutes. However I am sure there is a learning curve before this is achievable. A trained operator could do that but you and I would be at a loss if we had to deploy it in that time frame.
Regards,
Bagelboy
Gotcha, with all due respect, the BIB is a sophisticated piece of equipment that only a trained operator should use, IMO.
You are talking about high speed winches, switches, valves and Helium under high pressure not to mention the electronic gear and cameras used to do the surveillance.
Maybe the important lesson learned is that a trained operator should be sent to run the equipment if there is to be any hope of success.
Anyway Frein has been captured.
http://xmedia.live.advance.net/lvlive/pdf/friday_nj.pdf
Gotcha, yep that is the area they are looking in.
Too bad the BIB did not perform better.IMO, a highly trained crew would be essential under these conditions. I don't know if the Pa. State Police are really trained to operate this specific equipment. Maybe the Ohio DOT and the Pa. State Police can work these details out. It would be nice to see them try again under the optimum conditions.
Bottom line, Frein needs to be caught before he strikes again.
Regards,
Bagelboy
Here is this morning's article.Everyone here is sorry it didn't provide the desired results.Thanks to those who tried.
http://www.lehighvalleylive.com/breaking-news/index.ssf/2014/10/balloon_fails_to_deliver_resul.html
Gotcha, it's a start!!
Regards, bagelboy
Here is the front page of the local paper today.
http://xmedia.live.advance.net/lvlive/pdf/tuesday_pa.pdf
Thanks for the reply. I can appreciate that.
Gotcha, would it be proper to ask you to name these two competent people who left? Just asking. Regards, Bagelboy.
The last "wizard" we had on this board was Lowtrade,IMO.Remember?
He wore a tinfoil hat. He has not posted on this board for quite a while for obvious reasons, IMO.
Indy,O.K. I went back and reread insighter's post. My apologies to insighter. It does make a lot of sense once it is decoded.I more or less agree with everything he says, actually, but there is a lot of angst there.
Insighter, I have no idea what you just said.
Greed or hush money? I don't know but I would never disrespect him with all he went through. I just think he was out of his element with Snsr.
R,
Bagelboy
Gotcha,thanks for the reply.
Sorry to hear your friend is so bitter.I understand he is not alone. It seems to me that every employee that has left WSGI including CEO'S,COB'S,consultants,and public relations people want 20-30 million shares as severance on their way out the door. Greed is infectious.
R,
Bagelboy
Gotcha, sorry to hear that your friend got burned so badly.It is never easy being let go from a job you have put your heart and soul into but it has happened to most of us at one time or another during our lives.How we recover from these adversities is key to going forward.My best to him.
As you know Clark and Estrella came in together and Clark immediately handed the mess to Estrella to clean up. Clark did work out the deal with the SEC to keep the company alive but I thought he could have done more, especially with the STS-111 program.
R, bagelboy
Indy, thanks for your input and references.Much appreciated.
R, Bagelboy.
Insighter, my reasoning is as follows:
1. The shareholder letter from the CEO of 5 June which Pagan has recently re-referenced states very clearly why LTAS was sold. It states that WSGI did not have the capital to properly build it out. If WSGI could not finance this subsidiary why hold on to it and let it underperform when orders for their products were received. One option was to sell it for cash and shares of DAC.
We do not know what the final selling price will be because share price and DAC incorporation have not been finalized. so it is a mute point at this juncture to speculate on true selling price for LTAS.
2. I am speculating here but possibly consideration was given to
the fairness of the origonal deal with the Hess's. Maybe it was just the right thing to do to find investors that would properly
fund this business so it can flourish and to do that this deal was arrived at. Just my opinion.
3. The phrase *legacy issues* is repeated ad infinitum in the letter. possibly this deal was a way to protect assets barring any
litigation which might arise. One way to do this would be to place a subsidiary into a holding company for protection. This might be a stretch but stranger things have happened and again this is just my opinion.
4. I have met Glenn Estrella at the first shareholders meeting and have talked to him and trust him. He is a very bright, dynamic, and intelligent person. I would give him more time to let his plan unfold.
R,
Bagelboy
Insighter, I disagree that the CEO should resign.
R, Bagelboy. BTW, I am not a basher and I don't short this stock.
Insighter, I can't argue with what you have stated but guess what,
we are still here and Glenn is still running the Company.
Regards, BB
Acumen, it has been that way since "old, old " management
was running the show. There is nothing to discuss.
Regards, BB.
Indy, can't get this to open. Is it a wrong address or is it me?
Regards, BB
Well Jet wasn't it talked about years ago about a relationship or at least talks between Elisra/Elbit and WSGI.
Who knows if anything substantive resulted. I guess that is Indy's point. Much groundwork must be done for relationships to flourish. That is just my opinion.
Regards,
Bagelboy
Be real, and Run
At the first shareholder's meeting (2011? ) I asked Mike Clark how long it would take to reach the Stratosphere.If you remember
at the time the catch phrase was " spiral development ". His response was that it would take years. My take on his answer was that the Stratosphere was the least of his worries at that particular time.
Indy, very interesting.How about high altitude balloons? Do you need a COA to launch one of them? Does the FAA have jurisdiction above 60,000 feet?
Regards, bagelboy.
Sami, and Bear maybe Vojtech's name had to be on the Argus hybrid patent because he origonally filed the Argus patent in WSGI's name IMO.If you remember WSGI (GTC) made a deal with Kroeplin to buy the STS-111.George V. redesigned and rebuilt it and filed a patent on the new design (Argus).
Indy, wow, thanks for the update. Best news this board has had in a while. Thanks again.
Regards. Bagelboy
Indy,thanks. Sounds like the Ohio/Indiana UAS consortium has it going on in drone development and testing even though they were not picked as one of the FAA testing sites. Nice to know that the Argus is under development there. Regards, Bagelboy.
Thanks Indy. Sounds like the Dayton development coalition and Jeff Hoagland have it together. The goal is to get the Argus in the air ASAP.
Sorry Indy.How do you work around this situation?
Regards,
Bagelboy
Indy, back in the day the Company had a P/R guy named Rob Bleckman.Can't say whether he was a liability or asset but he did get the word out from time to time.
Regarding Chairman of the Board,it has to be a tough job to try to lead a company with so many problems. IMO Mike Clark made good headway.He got rid of the SEC mess, righted the Company and Glenn Estrella took the reigns from there. Maybe Mike had too many irons in the fire. I don't know but he is gone and what he does with his shares is his business. He financed the Company with his own money for a period of time. So good luck to him in his new endeavor.
Warpcore, sorry to hear that you have left the building. Good luck to you in the future.
Regards, bagelboy.
Indy, glad to hear that you are on board for the Stratosphere.
For whatever reason(s), go for it.
Regards, Bagelboy
Run, IMO, the odds are around 80% that after their evaluations they will order many more units.
But again that is my opinion. Do your own DD and act accordingly.
Run, you are doing a great job.
Don't ever change.
We need your negative energy to balance us off.