World Surveillance Group Inc (fka WSGI)

[jpharrah]

On Oct. 5, 2007, the SEC said...

"The Wells Notice provides notification that the staff of the SEC intends to recommend to the Commission that it bring a civil action against the Company for possible violations of the securities laws..."
http://biz.yahoo.com/e/071012/gtem.pk8-k.html

For over 6 months, I have read posts on this board saying that would not happen. I read how the SEC was satisfied that it was someone else's fault and not GTEM. I read how the SEC was "working with" the company and would not bring an action. Others said they thought the SEC would do what they said they were and they were right.

In that same notice the SEC said...

"The staff is also considering recommending that the SEC authorize and institute proceedings to revoke the registration of Company's securities pursuant to Section 12(j) of the Exchange Act."

That section has to do with the timely making of SEC required filings. Now I'm reading...

"And thus...the delay...of which, just a hunch, the SEC is fully in agreement."

It's amazing how many things from the company, and stuff about the company on this board turns out "not" to be true! The SEC has already done exactly what they said they would do, and brought an action against the company. To me this proves, the SEC is "NOT" and was "NOT" working with the company, but is going after them!

I think there is a good chance now the SEC will also do exactly what they have been considering doing!