World Surveillance Group Inc (fka WSGI)

[No Fear No Greed]

On the surface, this South America news seemed almost too good to be true, which always makes me nervous. So I did a little digging starting with net searches (Google and Yahoo) on those two companies, "Dynamic International Networks" and "Beacon Supply Comunicaciones". Disturbingly, the DIN search returned NOTHING - for a company that was supposedly founded in 1997, they have been ominously absent from any sort of news over the last eight years.

The search on BSC returned very little also, but did uncover one news release regarding a previous deal with Sanswire done in June 2003:

http://www.eetimes.com/story/83928

Comparing the two releases, it looks like Sanswire was originally slated to provide two Stratellites directly to Beacon, without the DIN middleman, in "Phase 3" of the project. In the mean time, I haven't heard of any progress on phases 1 and 2 - I wonder if they ever happened? Now if the funding is to come from DIN and its partners, that's great. But no news from DIN in eight years? And the only searchable published deals involving Beacon were with Sanswire, two deals separated by 19 months of nothing? A skeptical investor in an OB stock might see a large red flag here...

I'm not saying it's time to get out, or even that the PR's are bogus, just advising a bit of caution. Remember, there is no SEC oversight here. In the mean time, I'm truly enjoying this breakout, not even taking profits yet, despite the cautious statements I just made. Even wish I had traded some of my IBAS for GTEL a few days ago... (I planned to do that AFTER the IBAS earnings report on 2/2/05, hoping GTEL would wait until then, but looks like I missed a great trading opportunity.) I expect the froth surrounding GTEL is just beginning, and I'm looking forward to a very interesting (and volatile) first quarter...