Replies to post #142635 on World Surveillance Group Inc (fka WSGI)

[indyjonesohio]

If it is not too inconvenient, RW, could you sometime please list the specific documents that gave you this data? I presume the original and amended sales contract and some specific 10-Q's as well as 2011 SHM notes. If it is too much to ask, just say so. IMO it is a rich summary of GTC data that tend to be confusing and complex, but important. Thank you for valuable research and analysis. IMO you always do good research. With sincere thanks, IJO>

[mide]

Quite honestly I have been trying to determine for quite some time now (since acquisition.) exactly what those GTC applique "assets" are doing to generate revenue and have come to the conclusion as you have..nothing.

Additionally another unanswered question is what is the catalyst necessary to initiate revenues and what are the expectations in time to catalyst event and revenue expectations and margins.

Zip ...nada answers.

I don't buy that it has to be the last launch of GSAT's constellation for them to kick in. Makes absolutely no sense as a significant number of them are already on line and furthermore they just announced a "fix" for the old sats.

I am in Run's camp on this until someone provides some answers that will help me feel these are valuable assets.

I have a hunch that MC had in mind a direct tie-in to Argus sales for the catalyst and it hasn't panned out as quickly as suspected. But just a stab in the dark.

m

[Madmonks]

Rattlewatch, thank you so much for your posts. I find them very interesting, informative and troubling. You clarified many things which I've been wondering about, including where I came up with the $500,000 figure.

I'm glad that you finally put to rest this notion that somehow these appliques were generating all this revenue for GTC. I understand how these appliques and ground stations could be used in concert with WSGI's airships to form a telecom network, but as you point out, this is simply a hoped plan or vision for the future. Will we be still around to see that plan come to fruition? I can't answer that because I have no idea how long it might take for the plan to become a reality or if it ever will. That said, it's always been the reason I've stayed invested all these years.

I'm with mide in thinking that something hasn't panned out or been properly executed since the GTC acquisition. Because, as mide points out, Clark gave us shareholders the impression that GTC would provide the company with adequate revenue to sustain its operations. This is the main reason why I've been so critical of management. I believe they have poorly executed their plan, and shareholders are paying dearly for it.

I find it very interesting that you seem to be suggesting that Eastcor was owned or created by Phipps. I'm not sure what to make of this revelation. It's my impression that Eastcor is the most valuable asset in this whole sorted saga. It seems to have better management, better talent and more revenue than GTC and WSGI combined. How does Eastcor have over 10 times the revenue of GTC?

It's not like GTC was born yesterday. It's a company that's been around many years. And unlike, WSGI, it doesn't appear to have the same legacy issues to deal with. So my question is: Why is a company like GTC only generating about $1 million in annual revenue right now given their history? $1 million might be okay for a start-up company, but I wouldn't classify GTC as a start-up. Also, as I pointed out in my previous post, the revenue being generated appears to be just from reselling stuff. That's not an encouraging sign. When and if WSGI starts selling the BiB and Argus, the aerostat/airship revenue side will blow away GTC's numbers. Don't get me wrong -- that's a good thing. But it calls into question whether GTC is ever going to start pulling its weight around here. Right now, it almost seems like GTC needed WSGI more than WSGI needed GTC. But I guess only time will tell whether we realize the full value of the GTC acquisition.