Replies to post #84177 on World Surveillance Group Inc (fka WSGI)

[jfburk]

No, Vern, you are sorely mistaken. The shareholder meeting to unveil the Strat was in April 2005 and it was a huge disappointment to shareholders present and those that saw the pictures.

That was your Strat and your strat never got off the ground. Your strat proved to be a failure and shareholders paid for that failure. New management kept the concept but are working on a much smaller version to meet the needs of our military today.

You certainly talk a good game but your results do not show that you walk the talk.

[jfburk]

Here is something that Vern doesn't want the rest of us to remember. Notice the agreement with Vern and his company and then revisit the progress made by April 2005 at the unveiling of the Strat.

Vern failed to deliver as promised and did not have a working product. He had a 3 year business agreement with the company and failed to deliver on his commitment or to acieve any of the stated goals of that agreement.

Anyone want to argue that Vern kept his commitment to the company and the shareholders then just like he isn't keeping his commitment to the shareholders now. Is it any wonder that Vern was replaced?

Asset Purchase Agreement - Stratodyne, Inc.


The Company entered into a purchase agreement, was signed and effective August 23, 2004, with Sanswire, Stratodyne, Inc. and its principal shareholder, Vern Koenig, for certain assets of Stratodyne and under substantially the same terms,
conditions and consideration as the original Sanswire purchase agreement. The "Stratodyne" agreement supplements the original "Sanswire" agreement. Stratodyne was the primary contractor for Sanswire.


The assets acquired under the Sanswire and Stratodyne agreements consist primarily of intellectual property and proprietary rights in intellectual property. The Stratellite, which is presently in the development stage, is similar to a satellite, but it is stationed in the stratosphere rather than in orbit. As of September 30, 2004, the Company has placed all of Sanswire's and Stratodyne's assets into Sanswire Networks, LLC, its Florida-based, wholly-owned
subsidiary ("Sanswire-FL").


As consideration for the sale of the assets, the Company issued 28 million shares of its common stock to Sanswire, pursuant to the Sanswire agreement, at the closing, and the shares were being held in escrow pending delivery of the
final documents. In November 2004 all the final documents were delivered and the relationship was consummated. In September 2004, pursuant to the Stratodyne agreement, 2 million shares of the Company's common stock were issued directly to Stratodyne's principal shareholder. These shares are included in the 28 million shares originally issued to Sanswire, and, accordingly, the Sanswsire shareholders will maintain only 26 million shares issued and return 2 million of
the previously issued shares to the Company.


Contingent Consideration


In accordance with the Sanswire agreement, an additional 200 million shares were to be issued pursuant to the terms and conditions of the "successful commercial launch" of a commercial communications platform aboard an airship by the
December 31, 2005 closing date. The Stratodyne agreement provides that 50 million of the 200 million additional shares will be issued to Stratodyne or its assignee(s) and the remaining 150 million shares to Sanswire Technologies, Inc.


For purposes of the Sanswire purchase agreement, a "successful commercial launch" was to be deemed to have occurred if all the conditions in the agreement have been satisfied and all other conditions deemed material by GlobeTel are satisfied, as determined by GlobeTel in its sole discretion. A "successful commercial launch" will occur if (i) an airship (dirigible) is flown for a period of 90 consecutive days at an approximate altitude of 70,000 feet, without technical difficulty, (ii) a customer is able to receive both voice and Internet services at the same time when it uses the "Stratellite service", at a customer-premises equipment (CPE) cost of approximately $100, and (iii) at least 250,000 paying customers must be able to use the Stratellite service based on agreed upon engineering specifications. For these purposes, it is also assumed
that the cost of each airship used in the Stratellite service will not exceed $3 million, the cost of each tracking earth station will not exceed $7 million and that each earth station (if more than one) will have the ability to cover
several deployed airships at one time. If the cost of any airship or earth station exceeds $3 million or $7 million, respectively, at the time that the "commercial launch" is being implemented, the project will not be deemed to be
commercially viable and a "successful commercial launch" will not have occurred.