World Surveillance Group Inc (fka WSGI)

[ColeThornton]

SAM, I think one of the ugliest things GlobeTel has facing them is this...

"disgorgement with prejudgment interest"

My understanding is this is the recovery of an amount in kind to ill-gotten gains as a result of their "activities".

I'm not sure about the exact time line of all the investors who put "cash" into the company. But if any of them were "after" the press releases which relied on the "faked" documents, these funds were certainly raised under fraudulent circumstances. I think these "ill-gotten" gains, which much of which went to officers etc... should be disgorged from the company.

It will be interesting to see how the SEC sees it. They sure seem to be going after everything they can from JM.