World Surveillance Group Inc (fka WSGI)

[WD-40]

financial services company?

I guess we are just considered a telecommunication company now.

http://stocks.us.reuters.com/stocks/fullDescription.asp?symbol=GTEM.PK&WTmodLOC=C5-Profile-1



GlobeTel Communications Corp. (GlobeTel) is a telecommunications and financial services company that offers its products and services throughout the United States and internationally, including Mexico and certain countries in South America, Europe and Asia. The Company's core products and services are telephony services that include international wholesale carrier traffic, networks, prepaid calling services and Internet protocol (IP) telephony. Its non-telephony products and services include stored value card programs and outsourced stored value services for the international banking and telecommunications community. Through its subsidiary, Sanswire Networks, LLC (Sanswire), GlobeTel is developing high-altitude airships called Stratellites that support wireless broadband network, which in turn, will be used to provide wireless voice, video and data services. These Stratellites will form nodes for the Company's Super Hub network.

International Wholesale Carrier Traffic

In the international wholesale carrier traffic business, the Company buys and sells blocks of calling minutes with particular origination and termination points. In some instances, it enters into agreements with established international telephone carriers to deliver international calls into their domestic telephone networks for termination to the parties being called. GlobeTel also purchases a bulk package of minutes to specific destinations and then resells these minutes in smaller quantities to individual and business customers. In most instances, customers prepay for these minutes or post letters of credit with the Company's bank to secure their purchases.

Networks

GlobeTel interconnects with licensed carriers in each country to provide calling services. In some countries, the Company places electronic equipment called a hub on the carrier's premises and then interconnects with their local network. In other countries, it connects directly to the carrier's hub, which is connected to the local telephone network in that country. GlobeTel maintain hubs in Miami, Florida; Los Angeles, California; Monterrey, Mexico, and Sao Paulo, Brazil. The Company also provides network management services to customers, which include testing routes, troubleshooting and service requests.

GlobeTel VoIP

On October 7, 2005, the Company announced the launch of its flexible, private-label consumer voice over Internet protocol (VoIP) platform designed and built specifically for Internet service providers (ISPs). The customizable solution known as StrateVoIP provides everything required to turn an existing service provider into a leader in VoIP technology without the usual obstacles involved in building out a carrier-class VoIP platform. StrateVoIP is a private-label solution designed for ISPs, cable companies, telecommunication companies (telcos) and all other providers desiring to offer VoIP services to their local markets.

Stored Value Services

During the year ended December 31, 2003, GlobeTel began offering products and services, which it calls the MagicMoney program. The features of the MagicMoney program allow telecommunications companies and financial institutions worldwide to add true stored value services to their existing products and create new products, while maintaining the convenience, security and acceptability of a MasterCard or Visa. MagicMoney stored value services include prepaid long-distance and international calling services, debit card electronic bank accounts and funds sharing services.

PrePaid Calling Services

The Company's enhanced services use software that operates on its switch interconnected with various customer networks. Pre-paid calling services are the widely used enhanced service. Its prepaid calling services allow carrier customers and reseller customers to sell their own branded prepaid calling cards in their markets and allows their customers to make both domestic and international calls.

Sanswire Operations

On January 18, 2005, Sanswire signed a letter of intent (LOI) with the National Aeronautics and Space Administration (NASA). The agreement with NASA's Dryden Flight Research Center at Edwards Air Force Base in California positions Sanswire for future governmental associations and business development ventures. On September 6, 2005, Sanswire signed an LOI with the Center for Solar Energy and Hydrogen Research Baden-Wuerttemberg (ZSW). The LOI states that ZSW will provide research and development engineering support under a cooperative research and development agreement for the development of a solar-electric propulsion system for Sanswire's Stratellite airship.

The Stratellite is being designed to operate at an altitude of between 55,000 and 65,000 feet using global positioning system (GPS) coordinates to achieve its on-station position. On March 1, 2006, the Company announced that Sanswire had floated the Sanswire II Technology Demonstrator Airship in Palmdale, California. This initial testing phase marked the first test of many planned for the program. This first phase will test the integrated subsystems within the Stratellite.