World Surveillance Group Inc (fka WSGI)

[cygnus_1]

LEINWAND'S BEEN SELLING After being issued 8,000,000 shares as per his employment agreement, Leinwand owned 10,876,752 shares on May 29, 2009. After being issued another 11,876,752 shares on December 29, 2009, Leinwand only held the newly issued 11,876,752 shares (block 5). It appears he disposed of over 10 million shares or every share he owned in that seven month period. SNSR traded at above .10 for most of that period. That's over $1 million of shares he disposed of in a seven month period.

Leinwand did not resign as an officer and director until August of 2009 and was required to report these transactions via Form 3 and Form 4. The Form 5 he filed yesterday was supposed to be reported back in February. It appears the company is finally under some pressure to finally start reporting these transactions.
http://www.sec.gov/Archives/edgar/data/9...

Thanks Coastie for your fine DD on this company!!!