World Surveillance Group Inc (fka WSGI)

[coastiretired]

The reality is the only actions this company is taking now and in the near future is defending itself in multiple court venues.

They are fighting for their life. . .but not the life of the company. Their actions and resources are committed to keeping management (past and present) out of jail.

As to the past, what did Steven King do for the shareholders that merited payment from the company in millions of cash and shares?

What did Mark Neuhaus offer the shareholders that merited payment from the company in millions of cash and shares?
http://www.secinfo.com/d14D5a.2qDu.a.htm

Compare what the company has paid these, "consultants," to what they have spent in total on R&D for their developmental projects Sanswire and HotZone.

On March 24, 2004, the SEC filed a civil complaint seeking a temporary restraining order ("TRO") and other relief, alleging an illegal distribution to the public of common stock of Universal Express, Inc. ("Universal"), an unaffiliated organization, by Universal's chief executive officer, its general counsel and four others, including Mark Neuhaus, the Company's Chairman and Chief Executive Officer.

Mr. Neuhaus has been cited for Sections 5 violations and is alleged to have violated Sections 5(b) and (c) and Sections 17(a)(1), (2) and (3) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. Mr. Neuhaus denies violation of any applicable law in connection with his resale of Universal common stock. On February 21, 2007 the United States District Court Southern District of New York granted a motion for summary judgment against Mr. Neuhaus as to Section 5 liability only. The summary judgment motion was denied as to all other issues pending against Mr. Neuhaus. The Company believes there is no connection between the Company and Universal other than Mr. Neuhaus' position with the Company and the fact that Mr. Neuhaus was a consultant to Universal and received and resold shares of its common stock.

On November 21, 2007, TX Holdings Inc. reported that Mark Neuhaus, Chairman settled his involvement in the case of SEC VS Universal Express, Inc. Mr. Neuhaus consented to an order to not violate securities laws and not to be involved in the raising of money for penny stock companies. Mr. Neuhaus did not admit or deny any liability.