World Surveillance Group Inc (fka WSGI)

[coastiretired]

IMO, LTAS needed capital in the form of cash to survive and grow. Workers on the LTAS assembly line can't buy food with restricted shares of a declining company.

WSGI didn't meet the original cash obligations of the original purchase price or the ongoing payroll obligations so the sale was renegotiated earlier this year to an all stock purchase with the cash WSGI previously paid being reassigned to LTAS payroll owed. IMO, WSGI was still having issues coming up with enough cash to meet the payroll obligations and was lucky to end up with anything before LTAS pulled up stakes.