World Surveillance Group Inc (fka WSGI)

[WarpCore61]

Trunkmonk, I have purchased 745,000 shares in the last 2 months. This is in addition to the shares I already held. I can assure you that if I'm buying shares, I'm not included in the "doubt in everyone's mind" category. Some here call me a fool. I don't care... doesn't phase me in the least. I'm confident in what I'm doing.

I also have to disagree with your assessment of the insider (I assume you're referring to Seifert) selling shares like a hot potato. Here are a few statistics on Seifert's share position:

1. On 6/1/09 Seifert's initial reported share position was 4,419,968 shares.

2. From 6/1/09 to 10/8/10 (last reported trade) Seifert has acquired 4,500,000 shares through exercise of stock options and has sold 2,030,000 shares.

3. Seifert still holds 77.24% of the total shares he's acquired.

I input all of Seifert's share position changes in Excel as reported on the initial Form 3 and the subsequent Form 4's. This chart shows his share position during this period.

http://home.earthlink.net/~warpcore61/Seifert.png

Honestly, I think the chart paints a picture not quite as gloomy as some here suggest. Personally, I'm not overly concerned about Seifert's selling. No one knows his reasons, but I strongly suspect his selling is related to personal financial issues and not because his outlook on the company is negative. I also believe that since Estrella has taken over the CFO spot, Seifert's days with the company are numbered, and he retains his spot as a director because no replacement has been selected yet, and we need an odd number of board members to effectively vote on any decision presented to the board.

Both Estrella and Clark have added to their positions during the period Seifert has been selling. You don't often see a CEO putting forth his own money to resolve corporate issues. I also don't believe the theory that Clark will dump the 4 million shares he receives for the SEC settlement funds in 6 months, after the restriction period is lifted. If he dumps those shares, I'll certainly be concerned and will start selling out of my own position. I believe Clark and Estrella won't sell a single share, as their goal is to bring this company to the commercial phase with airship contracts, and they ultimately intend to sell the company. The purchase price is likely to be the highest share price seen in the stock... similar to what happened with Force Protection, except they won't make the mistake of rejecting the buyout offer. They will hold their shares until that time. I'm adopting the same strategy with the majority of my shares.