World Surveillance Group Inc (fka WSGI)

[rwehapi2003]

It is interesting, isn't it? It looks like a yard sale of sorts - take the assets that aren't doing anything for us and try to get something in return:

Those free GSAT ESN's - we got $250K

Appliques? I guess you can say we got a licensing deal for them which included $2M worth of stock and a 25% discount on airtime we purchase from Orbital Satcom Corp. Can we assume the ground station deal was included too?

Those DRNE shares? We got $475 for 7M shares and used the other 3M shares to cancel our agreement with Denville and repurchase shares.

So we took assets that we could not monetize on our own and maybe thought had limited future upside and did something with them?

What did we keep?

GTC is now being run by Trident for 5K per month. Having our COB doing this seems like a better idea than Phipp's company in the UK. Does this mean we save on his FL condo fees?

Retain ARGUS - hopefully we get to see a business plan tied to this since this seems to be the only asset they thought was worth keeping.

I certainly hope we get some sort of PR or letter from Glenn that gives us their rational for making these moves.