World Surveillance Group Inc (fka WSGI)

[rocky301]

Looking at last funding PR and disecting it a bit this is what I see. 5MM of 15MM will be working capital. The other 10MM is capital and equipment for data plants to be built. The 5MM plus the 2.5MM announced previous I see as general working capital and expansion monies. Originally, according to the 3rd qtr filing, preferred shares were being sold to fund ATC agreement. The new agreement with ATC, yet to be approved by ATC shareholders, shows 10MM GTEL shares to cover the original agreement of $1.2MM. So I believe the 2.5MM in funding went to other areas and not to ATC. Summary, In approx. 40 days GTEL has announced 7.5MM in working capital and 10MM to finish the Magic Money Program. Hopefully these funds will take care of our needs for a while. The real treat will be establishing money making revenues to support our growth without issuing shares. ..rock