World Surveillance Group Inc (fka WSGI)

[Sanswired]

Worth a read... Rocky posted this as a reply to MFs article on the subject of the COO supposedly selling.

"I know where the info came from, but is it relevant to his statement? I think not.

Insider Sales are filed with the SEC with a FORM 4...so are buys

To find out how many shares are sold or bought you need only go to the SEC filings and add them up. I did a quick scan and came up with the following for the last 12 months.

Huff bought 20,000 shares
Siegel bought 7,800 shares
Leinwand bought 10,640 shares

Total purchased by insiders....38,400 shares

Leinwand sold 10,000
Total sold by insiders...10,000

According to MF the above 10K shares is "heavy selling"?
Or is it MF doesn't know what an actual insider is? Either way, insider selling within GTE is as minimal as any I have ever seen..thanks

Who Is An Insider?
An insider is an officer, director, person with a policy-making role, or beneficial owner (holder of 10% or more) of a company's stock. Insiders are both individuals and corporations, and are required to report their:
Direct Holdings - holdings that are held in the name of the insider; and
Indirect Holdings - holdings that are controlled by the insider, yet are held by another entity such as a family member, a trust, a company plan, or even a corporation to which the insider is affiliated. In many cases, the same block of indirect stock may be claimed by several insiders, such as a group of trustees over the same trust, or several partners in the same partnership. Some insiders hold all of their stock indirectly.

Form 4
Form 4: Statement of Changes in Beneficial Ownership
The Form 4 is required any time there is an open market purchase, sale, or an exercise of options. It must be filed by the 10th of the month following the transaction and contains the details of all non-exempt transactions which exceed $10,000 during that month. Exempt transactions, such as gifts of stock, may be filed on the Form 4 or on the annual Form 5.
Information included on this filing is the name of the insider, title, type of transaction, date of the transaction, amount of stock acquired or disposed, price, holdings after the transaction, and the nature of ownership."