World Surveillance Group Inc (fka WSGI)

[rocky301]

Rose, yes, I think it goes from 3 to 18...
some short comments on last funding PR of $15MM..
It is obvious that GTEL feels the Magic Money program, Magicphone and TextCard will produce substantial income, now and in the future. The 10MM will be used to complete the 4 data processing plants so they can do business on a worldwide basis. The other 5MM will be used as general working capital, at least I read it that way. How long the preferred will be held before conversion to common shares seems to be a negotiation that is not yet complete. I would read it to say for at least a year but not more than 3. For a group of investors to invest 15MM and then be restricted in selling would mean they see a growing business potential with a better than average return on their monies as the pps increases. The revenue statistics on prepaid cards, and money remittances alone are staggering. If GTEL can get set up worldwide with a few good connections and tap a small percentage of this business it could easily become a "cash cow."..jmo...rock