Replies to post #154265 on World Surveillance Group Inc (fka WSGI)

[flybyday]

Thanks Bank, much appreciated review of the meeting.

Did Glenn mention his meetings with Homeland Security and demonstrations of the BIB conducted? Does he think any possible sales to those entities are delayed as well? How did he address the small percentage of DRNE we ended up with when all 140 million shares owned are accounted for against our 10 million?

Thanks again

[scarlet knight]

Bank.. Thanks for the synopsis.. I was one of those on the call, but the audio didn't allow me to hear everything..

[thebull2]

Bank, you did a great job and I appreciate all your efforts.

[rwehapi2003]

Many thanks, Bank. Glenn's reasoning behind the LTAS sale makes a certain amount of sense now. IMO.

[Madmonks]

I appreciate your notes, bank. It's a sad situation. Thanks for not sugar-coating it.

It sounds to me like LTAS is a bust. All that hype about huge contracts hasn't materialized and probably never will. I think Glenn put an enormous amount of time, effort and money into this endeavour, and it didn't pay off. I agree with rwehapi2003 -- Glenn's reasoning for selling LTAS is making more and more sense. The company cut its losses and moved on. Maybe now he will be able to concentrate on company business that really matters. It doesn't excuse his poor judgment, however.

The one thing that jumped out at me from your notes was this:

I also asked what the source of the millions in legacy debt was and how they planned on ridding themselves of it. Barbara fielded this question. She said they were trying to figure out if the debt was legitimate. The history of the debt predates any current management and they are questioning its authenticity.

Huh? Are they serious? It seems to me that if they haven't figured it yet, they're never going to figure it out.

Was there any talk about working with a major university and what they hoped to accomplish by doing so?

[coastiretired]

Ironic how Barb and Glenn hide behind SEC material event restrictions and other legal issues to thwart discussion of uncomfortable topics, yet they have no problem bandying about the names of Google, Facebook and Amazon as being interested in ARGUS.

[ColeThornton]

The history of the debt predates any current management and they are questioning its authenticity.

This is a legal concept I am not familiar with. So am I to understand management feels you can borrow millions of dollars, change management and act like you don't owe it anymore?

Sounds like something a penny stock scam would try to do.

[runandadd]

Thank you very much for the report.
Run

[be_real]

bank, thank you for the notes. I hope they're not too serious about the possible "future acquisitions". Maybe they can merge with some company, but any (even a small) acquisition at this point will just create more dilution. We already have enough of that.

All JMHO

Thanks again bank.

[BoeingOrIAintGoing]

Much appreciated.

[sami1327]

Thanks Bank for sharing your time

[Acumen]

Patiently waiting on the 3rd quarter "business plan for GTC growth as they work towards opening up the US sales channels".