Replies to post #81951 on World Surveillance Group Inc (fka WSGI)

[siriuslyricher]

Let me hazard a guess and suggest one theory: While GlobeTel was awaiting the recent $700-plus financing (shortly after the JV was inked) but before the monies were received, Joe M. fronted the cash needed to get the first batch of radios rolling. When GlobeTel obtained the financing, Joe M. was repaid "the bulk of his money" as he claims, the rest to be paid in the future as revenues increased.

No one was using Joe M. - he claims major credit for obtaining the Mexican JV and he obviously felt it was worth investing in.

Thereafter, however, the SEC found something in the " . . .
accounting practices related to Centerline" which quickly led to Joe's termination. He has been let go and is not getting what he wants or feels he deserves.

[pokestake]

Noticed that also but was reluctant to ask because I basically don't trust anything in the e-mail and don't trust anything that will come as an answer, but the question does need to be asked.

Also the answer was coyly alluded to by Vern earlier in the week so I know that by asking we will be obliged to indulge him in another fan dance as we tease his version of the truth out. I'm just not in the mood.

Supposedly JM came into possession of the units. The strange part is that he would consider the money that he got for the units as compensation for his loan to the company. If it was cash for merchandise transaction, then the loan would still be owed, so this could be showing a flaw in a fabricated story. That is another reason I don't really want to hear Vern's answer as it will no doubt fail to address this apparent incongruity.