World Surveillance Group Inc (fka WSGI)

[nerd86]

mide just to fill in a blank on joe m. presence at the last SHM.
By: lotbman
07 Oct 2007, 09:36 AM EDT
Msg. 232844 of 232929
Jump to msg. #
I spoke to Joe Monterosso about Centerline revenues at the 2006 shareholder meeting. He said booking revenues and getting new clients was easy, but getting paid was extremely difficult, with a very high percentage of uncollectible accounts who just disappeared. Seems many companies signed up, used the service, and just never paid for their usage. Client selection was risky. And with such slim profit margins, it's no wonder the business went South. Collection of accounts payable was very expensive and probably consumed any gross profit.

Unfortunately we shareholders "believed" Centerline was the only real revenues we could count on; WRONG again!

LotBMan
- - - - -