World Surveillance Group Inc (fka WSGI)

[good2be]

Danielle, if readers skimming and fail to read your link, they'll miss the fact that the author is in direct opposition to your statement: "it appears that the systems works much better and more efficiently for issues listed on the OTC:BB and the Pink Sheets, than the major exchanges."

The author finds Wall Strret data highly suspect and sites outside data to oppose:
"To expose this concern of possible games being played, a report out of a visiting scholar to the SEC provides evidence of the disparity in settlements executed on Wall Street. The report, titled “Strategic Delivery Failures in the US Equity Markets” by Professor Leslie Boni provides data that shows that of 3000 OTCBB/Pink Sheet Traded Securities an average across those companies resulted in .91% of their shares outstanding represented in a failed settlement status. This compared to NYSE and NASDAQ having an average of only .15% in a failed status. This is also nearly 2X the limit necessary to fall on to the threshold list and this was the average fail percentage of 3000+ issuers. Worse was the disparity in settlement times between the two as the NYSE/NASDAQ had a mean time of fail of 10.5 days while the OTCBB/pink Sheets was listed as 33 days." http://www.unm.edu/~boni/Fails_paper_Nov2004.doc

The author concludes with "For now we are left with two possible scenarios. We can believe the lists presented and begin funneling our investments into the most efficient trading center in the US Securities Markets, the OTCBB or, we can seek answers on how nearly 500 OTCBB securities suddenly disappeared overnight from their settlement problems. Who is responsible, and why was the fail data fudged?"