Replies to post #151766 on World Surveillance Group Inc (fka WSGI)

[insighter]

The fact is, bib was not lta's to begin with I don't think. They were helping to build it but the concept and r&d was ours I believe. Plus I have a strong suspicion that management is hiding potential contracts in the wings shortly. I cannot for the life of me fathom why the whole potential of bib and wasp which the company had been mainly focused on for the last 2-3 years has been sold for a song ( just the cost of ONE single unit) when we are this close.

If there were ready investors to keep the company alive without selling our most valuable asset for future revenue generation, I personally believe it looks like gross negligence or collusion by the company to sell away the farm for real cheap. Indy keeps harping on honored consultants...REALLY??! We honor them so much that we are willing to bend over backwards and let Glenn and co do a number here? Even if it were the queen of England, I would not do such a bad deal for shareholders. Most especially when all we have is stock from a private NEWLY FORMED company with NO assets nor substantial paid up capital to speak of.

Indy, you had been talking up the potential of the wasp and bib, why do you value that potential so lowly now. 335k is hardly big money. Honor or no honor. And I believe the deal was not carried out with much of honor or with shareholder's interest in mind. Honor is not in how much money you have or how big your name is. To me, it is in how you conduct your affairs. In this case, the shareholders have had their assets and potentials greatly diminished from this sale.

Forward looking statements are very easy to be made but oh so hard to enforce. I believe we have been sold down the river by thieves and traitors for much less than 30 pieces of silver. IMO we just sold our winning mega million lottery ticket (we already checked the numbers) for $10 right outside the collection office. Maybe Glenn was so overwhelmed with the honor of beholding the glory and power of the other party that he found himself gushing and offering up our ticket for $10 and a sack of potatoes (private sack of potatoes one might add- covered in sack and no one can open it to check what's in it). Oh and we get to pay them huge for consulting services too. Woohoo what an honor. Just peed my pants in excitement!

I had always valued your input Indy, but in this case, I wish your eyes would be more open. You will realize how badly we got it in the a**.

[rwehapi2003]

montanar,

I thought we paid 250K and 25M in shares for LTAS? But I do get the point. Unless one only invested in WSGI with the last few years, you would have bought shares based on the ARGUS and GTC relationship since the BIB only came about recently.

Here is the part that bugs me:

When was the first time we ever heard that our legacy issues could pose a problem with our LTAS relationship? WSGI asked for an increase in authorized shares last year. We all remember that plea through the Letter to Shareholders. What about those private placements that were issued? All along, we continued to deliver the BIB/WASP components as announced and were anticipating the results from NIE as they tested our BIB which was invited back as a baseline system. Now they tell us that there was a problem integrating WSGI and LTAS for the past year due to financial issues? Is this a way of telling us that they landed the big contract that they were anticipating, but now cannot fund the manufacturing piece?

If no contract results from NIE or JIEDDO, selling off LTAS will look like a good move.

If DAC does land a sizable contract, and our DAC shares become a decent sized asset, Glenn might look like a shrewd man. Maybe the only way for LTAS to get the contract is for it to be distanced from WSGI. Better to get something by selling rather than holding onto it and get nothing.

BUT, if DAC becomes bigger than anyone could imagine, AND the reason we could not hold onto it is because of the LJC debacle, the increase in authorized shares, and falling into the pinks, that falls squarely on the shoulders on Glenn and company, IMHO.

I am curious as to who really came first - did WSGI ride on the tails of LTAS or did LTAS get invited to our party and end up walking away with the prize if they do get a contract?

There is a lot that still needs to play out before we can fully evaluate what happened here, but for me, the sting will remain until they can restore some shareholder value and confidence.

[be_real]

Hello montanar. You highlight some good points. But I wish they would not mention Google or Facebook. JMHO

For me, if the Argus development doesn't take some big and successful leaps forward this year (only approx. 7 months remain), then I doubt it ever will. JMHO