Replies to post #105902 on World Surveillance Group Inc (fka WSGI)

[ColeThornton]

Gee what a coinciden(ce)...

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=30567644

Have you spotted those very private, valuable investors yet?

[justfrank]

There wouldn't be a listing of hotzone as an asset. Guess your memory is failing, that was one of the resaons for restating and what the SEC found wrong.

from the SEC complaint

Therefore, proper accounting under GAAP required that GlobeTel record the entire amount it paid Hotzone at the time it acquired the "in process"research and development project as an expense rather than capitalizing it as an intangible asset