World Surveillance Group Inc (fka WSGI)

[kevinaok]

Rocky - I think I found the answer to my question in the form S8

"We have issued four (4) different classes of Preferred Stock, Series A, Series B, Series C and Series D. All Preferred Stock are convertible in to Common Stock of the Company, and presently, holders of Series A Preferred Stock have been converting into Common Stock. We could also issue additional authorized but unissued shares, and in some cases we could do that without stockholder approval, diluting the holdings of existing stockholders. Existing shareholders will experience significant dilution upon the conversion of the convertible debentures to stock. In addition, issuance of additional shares could, under some circumstances, make more difficult, or frustrate, a hostile takeover of GlobeTel."

Have a good evening
Kevin