World Surveillance Group Inc (fka WSGI)

[coastiretired]

Noted and I agree with your assessment with the exception that its a big IF for Centerline to achieve a positive cash flow since June of '06.

Globetel stated that Centerline had reached profitability as of May 10. In the same announcement, Globetel stated that they were on pace to "exceed" its stated performance objective of $350,000 per month net profit by the end of June. The June 10Q didn't bear this out and Globetel later admitted that they did not achieve a net operating profit.

While they were pumping increasing revenues for Centerline in May, they were well aware that "they had 'maxed out' the capacity of its third party billing software," and were "in the middle of a 60-day testing and implementation period for new software" during which they couldn't take on any new clients or increase revenues.

Since Globetel no longer reports financials and no longer has any bean counters on staff or under contract to complete financials, I can't prove that Centerline is not currently profitable. But if it was even EBITDA positive, I'm sure Globetel would be pumping it.

So my question back to Nerd on the subject. . .Can you prove when Centerline has ever been profitable and has had a positive cash flow to dish out to its other divisions? Its predecessor was once back in 2002 when the company went by the name of ADGI. But, as many here have pointed out. . .that is ancient history.