Windswept Environmental Systems, Inc. (fka WEGI)

[printmail01]

Landshark what is your take on this SEC filing? Laurus / WEGI filed this with SEC in 02/2007 > It is an offering to SELL over 5 million shares of WEGI.OB shares for $.09 per share > Per the filing once all shares are sold at .09 each the OS will be = 41,074,054.

I would like to know what you think this filing is for, and what do you call it, if not dillution?

FYI > I also found some very NEW and relevant NEWS on Tradewinds last night. I will make sure to past tonight tomorrow when I have some time. From what I gather the State of New York disposal contracts have had some "issues" with billing.

Here is the link to the SEC filing >

http://www.sec.gov/Archives/edgar/data/814915/000114420407006068/v064851_s1a.htm


The Offering

Issuer Windswept Environmental Group, Inc.

Outstanding common stock before offering 35,678,993 (as of January 31, 2007)

Number of shares offered for resale 5,395,061 (1)

Outstanding common stock after offering 41,074,054 (assuming all offered shares are sold)

Use of Proceeds We will not receive any proceeds from this offering.

Registration Rights We have agreed to use all reasonable commercial efforts to keep the registration statement of which this prospectus forms a part effective and current until the date that all of the shares of common stock covered by this prospectus have been sold under the registration statement, have been sold pursuant to Rule 144 of the 1933 Securities Act, as amended, or may be freely traded without the effectiveness of such registration statement.

Trading Our common stock is quoted on the Over-the-Counter Bulletin Board under the symbol “WEGI.OB”.

Risk Factors See “Risk Factors” and the other information in this prospectus for a discussion of the factors you should carefully consider before deciding to invest in our common stock.

______________________________________
(1) Represents shares issuable upon conversion of, and/or in payment of principal and interest in shares by us on, the Note issued to Laurus.