World Surveillance Group Inc (fka WSGI)

[risk_it_us]

Mide, how have they always done it ????? crap dude, globetel has NEVER EVER showed a penny of profit. They've always operated in negative cash ALWAYS. Spending has exceeded revenues since their inception. "spending more than they bring in" is NOT speculation it is a fact. Look at any 10q ever released by globetel and it's there in black and white. In 2005 the bonuses alone were outragous more especially for the losses incurred.

Being "alive" and being "profitable" are two different puppies. Why did globetel shave a division ? Why did Globetel cut its payroll ? simple, because had they not done that they would have had to file bankruptcy. It was a survival move that was necessary to buy time and that's precisely what it did.

The last known profit margin was -(negative)34%.