World Surveillance Group Inc (fka WSGI)

[SEBASS]

Rocky thank you for your insight.
I’m not sure if I understood correctly but I think what that means is that 1:15 split effects preferred shares as well however we do not know what the conversion rate of preferred to common shares is ? ...meaning for each preferred share preferred holder would be getting 3 common (for example).

Am I correct on the analogy? I used 3 shares as example only since we do not know the conversion rate wright ? Is the conversion rate different for each preferred holder or same rate applies to all preferred holders.

ALSO

That recent private placement with over $2 million for few shareholders with price of .19xx. Why would they choose common shares instead of preferred shares. As I remember previous private placement was for a $1MM and guy chose preferred shares. Certainly they could have too. Why anyone would choose common over preferred if they had an option of going with preferred which give advantage of preffered to common shares ratio. I’m not sure if I understand all of this correctly. Would you please help.

Again thank you so much for input.