World Surveillance Group Inc (fka WSGI)

[Madmonks]

I appreciate your notes, bank. It's a sad situation. Thanks for not sugar-coating it.

It sounds to me like LTAS is a bust. All that hype about huge contracts hasn't materialized and probably never will. I think Glenn put an enormous amount of time, effort and money into this endeavour, and it didn't pay off. I agree with rwehapi2003 -- Glenn's reasoning for selling LTAS is making more and more sense. The company cut its losses and moved on. Maybe now he will be able to concentrate on company business that really matters. It doesn't excuse his poor judgment, however.

The one thing that jumped out at me from your notes was this:

I also asked what the source of the millions in legacy debt was and how they planned on ridding themselves of it. Barbara fielded this question. She said they were trying to figure out if the debt was legitimate. The history of the debt predates any current management and they are questioning its authenticity.

Huh? Are they serious? It seems to me that if they haven't figured it yet, they're never going to figure it out.

Was there any talk about working with a major university and what they hoped to accomplish by doing so?