World Surveillance Group Inc (fka WSGI)

[cygnus_1]

Thanks Coastie for your DD
Global Telesat Arranges Funding Commitment

It looks like Global Telesat (GTC) has arranged an $800K funding commitment to build a new, five-segment STS-111.

http://money.cnn.com/news/newsfeeds/articles/marketwire/0563927.htm

It would be nice to see Sanswire get something tangible from their relationship with GTC.

There was that $50K loan from GTC that Sanswire defaulted on which caused GTC to receive 1,000,000 shares of common stock. Those shares were worth over $100K a few months ago.

Then there was the "Services Agreement" for which Sanswire paid GTC 12,500,000 shares of common stock valued around $1.8 million when they were issued.

http://www.sec.gov/Archives/edgar/data/919742/000114420409021582/v146749_ex10-3.htm

I haven't seen GTC provide any of the services spelled out in the agreement. But, I would be willing to provide an $800K line of credit to anyone who feels like handing me $1.8 million in shares.

I recall another penny stock called GlobalNet which issued GTC millions of dollars in stock for services that were never provided. Its probably a mere coincidence that Erdberg and Seifert also ran that company.

But, what would you expect from a company set up by two renown con men -- Richard Hirschfeld and Robert Sensi -- and run by their old roommate -- David Phipps. While Phipps manages to sell a sat phone on eBay every couple of months under GTC's name, GTC is best known for buying the mansion where a certain fugitive was captured.
http://www.larryjkolb.com/file/54.html
http://www.browardpalmbeach.com/2005-05-26/news/mr-big-shot/

Robert Sensi tried to sue an author which exposed Hirschfeld and Sensi. The names of two current Sanswire Officers is mentioned alongside Sensi in that suit; General Wayne P. Jackson and Jonathan Leinwand.

This stock is just filled with mystery and intrigue.