Defaulting on its payments since last April???
From Current Report Filing (8-k) of 15 April, 2015
Item 8.01 OTHER EVENTS.
On April 15, 2015, World Surveillance Group Inc. (the “Company”) defaulted on a monthly installment payment in the amount of $3,333 which was due and payable pursuant to that certain Settlement Agreement (the "Decarlo Settlement Agreement") entered between the Company and DeCarlo Group, LLC on July 9, 2014. The Company has paid a total of $31,664 in accordance with the Decarlo Settlement Agreement and currently owes the remaining amount of $53,336 payable in monthly installments of $3,333 from April 2015 through July 2016. The Company has also not made the May 2015 and June 2015 payments.
In addition, on April 19, 2015, the Company defaulted on a monthly installment payment in the amount of $20,000 which was due and payable pursuant to that certain Settlement Agreement (the "La Jolla Cove Investors Settlement Agreement") entered between the Company and La Jolla Cove Investors on November 18, 2014. The Company has paid a total of $210,000 in accordance with the La Jolla Cove Investors Settlement Agreement and currently owes the remaining amount of $80,000 payable in monthly installments of $20,000 from April 2015 through July 2015. The Company has also not made the May 2015 and June 2015 payments.
