Replies to post #156625 on World Surveillance Group Inc (fka WSGI)

[coastiretired]

The DeCarlo Group

"A lawsuit was filed by the DeCarlo Group on November 24, 2010 in Miami-Dade County Courthouse claiming damages in excess of $1.1 million, including $400,000 claimed in connection with CFO and accounting services rendered to the Company. It is our position that we were overcharged in connection with the services rendered and that no amounts are due. On July 2, 2014, without either party admitting liability, we and the DeCarlo Group entered into a confidential settlement agreement in the amount of $85,000 to be paid during the next twenty-four months. The Court will retain jurisdiction in the matter until the full amount of the settlement is paid in full. However, in the event we default on any payment or provision of the settlement agreement, the DeCarlo Group may, pursuant to the settlement agreement, pursue its litigation."

The La Jolla settlement was for $290K.

That if any payment is not paid within ten (10) days following a notice of default given to the Company's counsel by La Jolla, La Jolla is entitled to a judgment in the amount of three hundred ninety thousand dollars ($390,000)