Madmonks i agree the revenues aren't growing as hoped,and don't understand the idea of owning the appliques rather than selling them, as GTC doesn't get revenue from them from what i've read,only the 2700 free ecns(2430 belong to wsgi/gtc,270 belong to gtcl/gtc-UK Mr Phipps company).
The GTC sale from Mr Phipps has provided $2.5M of the $2.7M of total assets of the company with the 8 appliques mentioned in the 10Q, for the 30M shares he received,and this $2.5M is roughly 85% (edit) of WSGIs' total assets at the moment of $2.7M, and is creating the only revenue.
Fwiw,WSGI/GTC doesn't own the ground station in Easton according to the GTC/WSGI sale ,but they have first right to buy it at $500K with a different ground station contract elsewhere, for 3 yrs of the GTC purchase.It is owned by the third party in the purchase agreement "the shareholder" (i think gtsc,would have to look again).
The amended May contract has mentioned the price of an applique @ rougly $500K ,but a a ground station costs roughly $3-$4M.Still do not understand if there will be recurring revenue for GTC/WSGI shareholders.(edit other than 9000 new free ecns)
The 2011 shareholder meeting document mentions the future. What the business/revenue plan is ,i don't know.This is what they hope to be in the future,,they want to.. act as a voice and data provider that owns its own ground station network,effectively operating as a satellite-based telecom company,without any capital investment in cell towers,fiber, or satelllite networks.
Hopefully we'll be around long enough to see it,and be enriched from it?
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