We are committed to moving WSGI forward by growing GTC's business and accelerating the development and commercialization of the Argus One. As a result of the above transactions, WSGI now has capital to run its business in the near term and has the ability for future growth (interesting statement...why didn't they say operations) by accessing additional capital pursuant to the term sheet once an effective registration statement is on file with the SEC, assuming the other conditions of the term sheet are satisfied. The Company also plans on working with the consultants to strengthen the Company's balance sheet through the ongoing clean up of legacy issues such that WSGI will hopefully be able to receive additional funding on satisfactory terms in the future. The consultants will also be working with the Company to identify potential companies to acquire that will advance one or more of the Company's business lines. The consultants WSGI will be receiving advice and guidance from are a group of experts and investors with a proven track record in restructuring and recapitalizing companies in the small- and mid-cap space. We are honored and excited to begin working with our new investors and advisors and look forward to transitioning the results of our soon to be growing business and the improvements in our balance sheet into a reflection in our share price.
Finally, the shares of DAC received by the Company as purchase price in the sale of LTAS are also now a significant asset of the Company and could become more valuable based on the value of the DAC common stock going forward, which will be partly a result of the success of our LTAS business acquired by DAC (what else is DAC going to be doing or have to offer?). WSGI now also has capital to invest to accelerate the development and commercialization of the Argus One and expand the customer base for GTC into additional markets.
We appreciate your continued support as we focus on our core businesses and continue our strategic business transformation of WSGI. We look forward to sharing our future success with you, our shareholders (oh please do share).
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