World Surveillance Group Inc (fka WSGI)

[lowtrade]

holter
Don't know if this will get deleted, seems Rocky feels some of my post should not be here. But this email from MR Huff was posted by Mailman a respected guy and may answer part of your question.

From:Tim Huff
To:XXXXXXXXXXXXX
Subject: can you answer this question?
In a message dated 5/9/2005 9:53:21 PM Eastern Standard Time, [e-mail] writes:


The reverse only applies to the common. The preferred doesn’t have a share number attached to it. The preferred is set by the Board and filed with the State of Delaware. In example, a preferred could have a 100:1 ratio. Meaning for every one preferred, it will convert to 100 shares of common, again this is set by the Board depending on negotiated terms. So the number of preferred in the company isn’t really an issue. If you have 1 share of preferred, it could have a million to one ratio. I hope this explains it.



Regards,



Timothy Huff

CEO, GlobeTel Communications Corp

9050 Pines Blvd. Ste 110

Miami Florida 33024

Tel: [phone]

Fax: [phone]

From: XXXXXXXXXXXXXXXXXXXXX
Sent: Monday, May 09, 2005 9:24 PM
To: [e-mail]
Subject: can you answer this?



Tim

can you answer this question?

Thanks


There will now be 100 million authorized and approximately 66 million outstanding. My question would be about the "10 million blank check preferred shares". They would/could have been used to prevent a "hostile" takeover. I wonder if the number of preferred shares will remain at 10 million or be divided by 15 leaving a total of 666,666.666666666666666 shares