World Surveillance Group Inc (fka WSGI)

[jpharrah]

"Now please tell us all how this company is still operating and why the SEC and the IRS have not shut it down?"

I have already answered this...
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=31708254

Why do those like yourself keep asking the same question over and over... it has already been answered.

"why the SEC and the IRS have not shut it down?"
They may never shut it down... so what, you're stuck with an almost worthless shell, whether they do or not!

"Could it be that some of the employees of Globetel were contract employees and thus responsibile for their own taxes?"
No this is not possible!
If GlobeTel didn't owe the taxes they wouldn't be negotiating with the IRS for their very survival.

"Could it be that both the IRS and the SEC are working with the company to resolve the issues from the past?"
This is another GlobeTel myth!
They aren't "working with them"! They are doing what they always do, and if you had ever been through an IRS audit or an SEC investigation, you would know they are not there to "help" you. One thing for sure... everyone has someone to answer to. Anyone doing a multi year investigation like this is expected to show why the time and money was spent to begin with. That's why there has been no settlement with the company like there has been with some individuals. The SEC wants a piece of this company and they are going to get it.

"Makes me wonder what the new investors know about this company that you and others do not?"

Now that we know these investors were common shareholders we know exactly what happened. They were told you are about to lose everything unless you invest more in this company. It's the oldest trick in the book. Obviously some of them took the chance. Well guess what they're 50% down on this too!

What a scam!