World Surveillance Group Inc (fka WSGI)

[nerd86]

Scion what "gravity"? I must have missed the use of the word "grave" in the 8K. We hammered the revenue recognition problem hard a few months ago. This is ususlly where the SEC investigation goes, especially when there are service revenues. I'm not saying that there weren't irregularities because I don't know if there were or not, but here is the problem. If revenues are overstated then expenses must also be overstated to keep the cashflow in balance. This is harder to do than you might think. Someone had to get the money carried as an expense, the IRS would likely like to hear about this money. Other companies have tricky accounting with off balance sheet accounts where "stuff" can occur. GlobeTel did not have any of this in their financials.