Replies to post #156076 on World Surveillance Group Inc (fka WSGI)

[coastiretired]

I recall Phipps received around $500K cash and $3 million in shares when WSGI acquired GTC. That doesn't include the millions of dollars in shares he received before the acquisition for "services agreements" that he orchestrated and received for the development of the STS-111. Then, there's his salary, a company credit card to abuse and the SkySat purchase shenanigans. Throw in a classy condo on the beach courtesy of the Company, and I'd say he made out quite well on the backs of WSGI shareholders.

But, it was awfully nice of him to offer WSGI that 25% discount off retail if they wish to continue to resell his repackaged products through Trident.

[coastiretired]

Phipps also set up a couple of new consulting agreements. One is with a company called Concentric Engineering LLC whose President is our old pal George Vojtech Jr. of Eastcorp Engineering fame. Another is with a company called "Spacetao LLC." That company's managing partner is Stefano Sensi-Davenport which happens to be one of the aliases used by Phipps' old pal Robert Sensi.

If the share price falls to the value of the private placement they just conducted at five cents a share, the asset will only be worth around $100K.