Replies to post #67753 on World Surveillance Group Inc (fka WSGI)

[siriuslyricher]

Or he has moved out of the space. Agree with you on the possiblity of shared pace, but remodeling may have made one space into two spaces if the lawyer were downsizing, or he could be leasing some or all of the space, not sharing it. Also, the following from the JV, indicates that they are not fading into the sunset yet. Also, VPN is paying GTEM cost plus for the Hotzone which is the technology owned by GTEM and which is to be installed throughout Mexico. So, there is no evidence that they are using a different solution.

"9.2 GLOBETEL'S REPRESENTATIONS AND WARRANTIES. GlobeTel represents and warrants to VPN as follows:

(c) it has sufficient capital to meet its financial and other obligations hereunder and no Governmental Approvals are required in connection with the payments contemplated by Section 2;"

[montanar]

"An overall update on the state of GTEM is long overdue"
Agree wholeheartedly!

Back in October the 12th, 2006 our newly appointed Chairman, Mr. Przemyslaw L. Kostro stated:

" I will also focus in the next week on securing the necessary funding to underpin our plans to restructure the Company and complete key projects already underway. Given the nature of the situation, we will be communicating with our shareholders over the next several days and weeks as these changes take place."

On October 16th, 2006 Kostro also stated:

"I realize that many of you have questions, however I would like to communicate to you through our actions instead of just our words."

On the first and so far only letter to shareholders issued on 2nd November, 2006 we were told that:

"We realize there are pre-restructuring issues weighing heavily on the minds of our shareholders, and we will continue to address them internally one at a time. Such changes will be communicated to you on an "as implemented" basis".

(Question One: How did we learn of B. Jones departure?
Question Two: How shall we learn of U. Altvarter departure?)

Finally in the same SH letter we are informed that:

"As a new management team and substantially new Board of Directors, we'd like to reaffirm to you our commitment to establishing a better flow of communication to the investment community moving forward."

And YES Kostro also told us that:

"In terms of distinct operational changes, restructuring our financial reporting process and the department responsible for these crucial functions is our top priority. We're installing a new reporting structure together with personnel changes. We believe that restructuring our financial reporting functions will have a beneficial effect on the efficiency of the entire organization through increased company-wide fiscal accountability."


But as far as moving forward in term of "better flow of communication to the investment community" we are in the fifth month of restructuring and in the middle of an almost complete company "financial" blackout.

High time for an update Mr Kostro!!!!