World Surveillance Group Inc (fka WSGI)

[cygnus_1]

It gets even FUNNIER!...


On February 8, 2010, Sanswire Corp. (the “Company”) received an executed Mutual Release and Settlement Agreement (the “Christian Agreement”) from David A. Christian (“Christian”), pursuant to which Christian resigned as Chief Executive Officer of the Company. The Christian Agreement provided for the resolution and settlement of all issues relating to the employment of Christian by the Company, provides a mutual release between the parties as well as the following:


• the Company agreed to issue Christian 4,000,000 shares of common stock of the Company;

• the Company agreed to issue to Christian an option to purchase 500,000 shares of common stock of the Company at an exercise price of $0.075 per share;

• the Company agreed to pay Christian Fifteen Thousand Dollars ($15,000) in cash as settlement of all accrued and unpaid expenses; and

• the Company agreed to issue Christian 250,000 shares with regard to his original contract to serve on the Board of Directors

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http://www.sec.gov/Archives/edgar/data/919742/000114420410007306/v174346_8k.htm