Replies to post #11282 on World Surveillance Group Inc (fka WSGI)

[rocky301]

Sebass,

below are examples of conversions directly from filing. As you can see SEBASS, they convert to a percentage of the OS number at time of conversion..

Preferred A conversion:
"each share is convertible into a number of shares of Common Stock determined by dividing the number of shares of Common Stock outstanding as of the date of conversion by three, and dividing the result of that calculation by 250,000."

Preferred B:
"Each 1,000 share increment of Series B Preferred Stock, as a class, issued to Caterham and its nominees shall be convertible into that number of shares of the Company's common stock equal to 1% of GlobeTel then issued and outstanding shares (the "Aggregate Conversion Shares") as determined on the date in which Caterham, or one of its nominees, first converts its Series B Preferred Stock into the Company's common stock "

Preferred C:

" Each 1,000 shares of Series C Preferred Stock will represent 2% of the GTEL common in their converted state."

Preferred D:
"The 1000 shares of Series D Preferred Stock will represent 2% of the GTEL common in their converted state. The Series D Preferred Stock shall be convertible in at least 100 share increments, each increment, at the time of conversion, will represent one tenth of 2% of the issued and outstanding shares of GTEL common stock."

Question on preferred verses common:

Common shares can be bough/sold anytime, preferred as you see above have one to two year holding times before conversion takes place..rock