World Surveillance Group Inc (fka WSGI)

[SEBASS]

mide directly as you stated it will not have a dilutive effect but inderctly by issuing shares later on to companies like MANDALAY INDUSTRIES INC. does have an effect on OS or float. A huge effect I would say. Look how many share they dumped on Jun 27, 2005.....2.44 million. Who is MANDALAY INDUSTRIES INC. for GTE anyway ? Does anybody know ? Do you see know why I would get upset over increase the size and issueing it to who knows who. I sure don't know know and never heard of MANDALAY INDUSTRIES INC. Did any of you ?
Why 45% partners don't invest some money into GTE or loan $.
I do not have any problem with GTE buying companies out with shares thought but have a problem with GTE issuing shares to entities like MANDALAY INDUSTRIES INC. Why they have unspecified relation.

http://finance.yahoo.com/q/it?s=GTE

http://biz.yahoo.com/t/44/4734.html

Company/Relationship Reported Shares Ownership
GLOBETEL COMMS CORP
Unspecified Relation
AMEX:GTE
(historical quotes, profile, other insiders) 2005-06-27 not reported
GLOBETEL COMMS STK
Unspecified Relation
OTC BB:GTEL.OB
(historical quotes, SEC, other insiders) 2005-03-16 not reported


Insider & restricted shareholder transactions reported over the last two years
Date Shares Stock Transaction ADVERTISEMENT


27-Jun-05 2,444,167 GTE Planned Sale
(Estimated proceeds of $7,300,000)
16-Mar-05 9,135,630 GTEL.OB Planned Sale
(Estimated proceeds of $2,500,000)
28-Feb-05 641,478 GTEL.OB Planned Sale
(Estimated proceeds of $195,000)
15-Dec-04 9,134,964 GTEL.OB Planned Sale
(Estimated proceeds of $685,000)