Replies to post #153579 on World Surveillance Group Inc (fka WSGI)

[gran torino]

Sorry I meant LTAS

[Squirt]

I don't think any "outsider" can answer that question, although theories abound.

I do think it's a legitimate question requiring a straight answer at the SHM. It's an extremely important decision impacting the value of our investment.

[indyblue]

Because our CEO is an incompetent idiot!

[Pagan]

According to the company, the following is the reason behind the sale of LTAS. Take it for what it's worth.

"The sale of LTAS resulted largely from (i) the Company's inability to find adequate funding on terms suitable for the growth of the Company (including LTAS), in large part due to the remaining legacy issues on the Company's balance sheet, (ii) the ability to sell LTAS for a price that will supply much needed capital to the Company, (iii) the desire to refocus the Company's efforts on its core competencies, our Argus One program and GTC's business, and (iv) the forging of a strong relationship with the investors in the acquirer who also became investors in WSGI and will provide the consulting guidance to the Company on a going forward basis. WSGI's Board, after reviewing the Company's financial and business situation, its prospects with and without the Transactions, the terms of all of the Transactions and their effects on the Company, believe that the sale of LTAS and the related Transactions are in the best interests of the Company, its shareholders and debt holders."