Replies to post #53215 on World Surveillance Group Inc (fka WSGI)

[SAMdashada]

You are so good at

providing specific information why don't you call the AMEX and make that inquiry.

LOL

[mide]

Nerd <It could have been filed, however, at the time GTE chose not to pursue an appeal. Please explain why it wasn't.>

Just my educated DD opinion...

Because AMEX, as it has want to do historically with its members to collect fees any way they can, said to GTE, pony up x+x+x and we will give you a favorable hearing, BUT will not guarantee the outcome.

Frankly, given the kangaroo court of the first order, I don't blame them for not wasting our money on the second and last review.

Not that they did not have a strong defense case, it just would never get a fair hearing....and certainly not for the goniff price asked....beyond the published one.

Now give them a venue in the Senate hearing case on AMEX, key naked short MMs, BONY, Media and outside influence collusion, and let's see who goes belly up.

The fat lady ain't done singing there yet...

m

[rocky301]

nerd,

And Rock is absolutely right. It could have been filed, however, at the time GTE chose not to pursue an appeal. Please explain why it wasn't. TIA


I believe you are suggesting that since GTE decided NOT to pursue the 2nd appeal that the Amex should have filed the 25-NSE right away or in a short period of time? And by not doing so you feel it was to further harm GTE?

Below you will find some Amex delisting comparables all of which involved the appeal process and the amount of time to file the 25-NSE..I see nothing unique to GTE that would substantiate your claim/theory..

Example:
Rica Foods, Inc....they went through both appeal processes and were notified June 19th they would be delisted. Form 25-NSE was filed October 24th, over 4 months.

"By letter dated June 19, 2006 the Exchange notified the Company that the Committee had affirmed the decision of the Listing Qualifications Panel to delist the Company’s common stock from AMEX pursuant to Rule 1003(d) of the Amex Company Guide."
http://www.sec.gov/Archives/edgar/data/789881/000114331306000360/rcf10242006lostappeal.htm

Example:from letter to filing..35 days
AXM PHARMA, INC.
"On May 31, 2006, a written hearing was conducted by the Panel. By letter dated June 1, 2006, the Exchange notified the Company of the Panel’s decision to deny the Company’s appeal for continued listing of its common stock on the Amex and to authorize delisting proceedings. The letter also informed the Company of its right, in accordance with Section 1205 of the Company Guide, to request that the Exchange’s Committee on Securities review the Panel’s decision within fifteen days."
http://www.sec.gov/Archives/edgar/data/1113643/000114331306000278/axj20060706lostappeal.htm

MILESTONE SCIENTIFIC, INC. from letter to filing approx. 2 months
"On August 16, 2006, a hearing at which the Company was present was conducted before the Panel. By letter dated August 17, 2006, the Exchange notified the Company of the Panel’s decision to deny the Company’s appeal for continued listing of its common stock on the Amex and to authorize delisting proceedings. The letter also informed the Company of its right, in accordance with Section 1205 of the Company Guide, to request that the Exchange’s Committee on Securities review the Panel’s decision within fifteen calendar days."
http://www.sec.gov/Archives/edgar/data/855683/000114331306000357/mss08282006lostappeal.htm

GLOBETEL:from letter to filing approx. 45 days

"On September 28, 2006, a hearing at which the Company was present was conducted before the Panel. By letter dated October 3, 2006, the Exchange notified the Company of the Panel’s decision to deny the Company’s appeal for continued listing of its Common Stock on the Amex and to authorize delisting proceedings. The letter also informed the Company of its right, in accordance with Section 1205 of the Company Guide, to request that the Exchange’s Committee on Securities review the Panel’s decision within fifteen calendar days."
http://www.sec.gov/Archives/edgar/data/919742/000114331306000383/gte20061117final.htm


FWIW
I did not look at ALL delistings from the Amex but did go through many and noticed the ones I did look at the 25-NSE was signed by the gentleman below.
Dennis J. Meekins
Vice President, Listing Qualifications
American Stock Exchange LLC

Globetels 25-NSE was signed by this person
Claudia Crowley
Senior Vice President and Chief Regulatory Officer
American Stock Exchange LLC