World Surveillance Group Inc (fka WSGI)

[Renaissance]

8k already!

http://www.sec.gov/Archives/edgar/data/919742/000114420413018875/v339967_8k.htm



Felicia Hess, the President of LTAS, has entered into an employment agreement with LTAS and WSGI to continue in her role as President of LTAS. The Agreement also includes restrictions on the sale of the Company’s securities issued as the purchase price by the Shareholder for a one-year period following the Closing.



The Shareholder has the right pursuant to the Agreement to nominate one member of the Company’s Board of Directors, and as a result, the size of the Company’s Board of Directors has been increased and Felicia Hess has been appointed as a Class I director as of March 28, 2013. Since Ms. Hess would not be an “independent” director pursuant to the rules of the Securities and Exchange Commission, it is not expected that she will be appointed to any committees.


FINANCIAL STATEMENTS AND EXHIBITS



(a) Financial statements of LTAS. The required financial statements of LTAS will be filed with an amendment to this Form 8-K no later than 75 days after the Closing.



(b) Pro forma financial information. The required pro forma financial information relating to LTAS will be filed with an amendment to this Form 8-K no later than 75 days after the Closing.



(d) Exhibits.