World Surveillance Group Inc (fka WSGI)

[siriuslyricher]

Sorry, Vern, but think Rob has the right word to describe the whole AMEX ordeal. The following message was for shareholders and it seems upbeat to me. He was just calling a spade a spade:

If you're calling in response to the Oct 6, 2006 press release announcing the Amex decision and the SEC investigation, we at GlobeTel are naturally disappointed at the outcome of the Amex hearing. However, we continue to move forward with our business plan and continue to nurture our business units and relationships. Despite what might appear to be a setback we will continue to bring our products to market. We are also a company that through this nightmare has retained the relationships that matter to us most.

Regarding the SEC investigation, we are all looking at the past valuations of assets belonging to two of our business units and the assumptions and due diligence underlying those valuations. The SEC informed us that an investigation does not imply that any federal laws have been violated. If we discover there to be divergent values, it could result in a restatement of certain financial statements over the last two fiscal years. We are fully cooperating with the SEC and look forward to the completion of this process.