World Surveillance Group Inc (fka WSGI)

[Transat 5]

Correct me if I am wrong but itseems only very recently has there been mention of a Letter of Intent.

If there was one then it would memorialise the intentions of the parties to enter into a formal contract within a specified time (usually 30 -90 days)if certain conditons were met.

One of those conditions would normally be the condition that a performance bond would be put in place against an advance payment of (usually)10%.

As the Russian stated they would be paying more than 10% as a downpayment. Was the problem with the Russians coming up with the money or the financial institutions reluctance to issue guarantees to a yet unproven company ?

So far GTE have not installed and proven one WIMAX system in a metro area.

This gets curiouser and curiouser.

I want to see that Letter of Intent. So do the lawfirms lining up to sue - it should stop any action.

I also want to see pics of the 'tethered' test which I seem to recall had been announced as completed some time earlier this year.

Is this a re run of last years pain of failed promises.
I hope not. The faith and trust which GTE shareholders have given the company certainly dont deserve that.

Get it up Huff and quick .