Replies to post #150739 on World Surveillance Group Inc (fka WSGI)

[sami1327]

Wow .. nicely done .. thank you

[lrt65]

Very good summary. Thanks

[be_real]

Thanks very much Madmonks, great summary. I disagree though (even though I wish it to be) that a BiB for each platoon is a potential, JMHO. Operating at platoon level makes sense, and is what it's designed to do, as indicated. But I think that maybe one for each company would be a more reasonable potential, for example.

I understand that you're simply dividing the numbers up, which i've done myself, also.


JMHO



"Show me the money!"

[bullrams]

Appreciate the concise summary. We should sticky this up. Not to take away anything from all the technical discussions that go around here on the board, I think this post should be prominently displayed on the board. I've been mostly a lurker but an investor since more than a year. Anybody who wants to DD this stock gets lost in the technical discussions. Again, not taking away anything from anybody - they are all good and relevant.
I'll be forwarding this summary to my friends who could be potential investors.
Good luck to is all and wishing the company achieves what it has set out for within planned timelines.

[Mista Bentely]

Most impressive summery Mad you put things into perspective quite nicely now let's keep our fingers crossed for a contract something to get us past this floor of .0098 and maybe somewhere into the .03-.04 range for a while. Bentley

[msturgeo]

I am most grateful for your time and concise state of the state. It has so much detail I do not have time right now to thoroughly examine all of it but I bookmarked your post for later. Again, thanks and yes I was here posting for many years or so it seems - shortly after the move to AMEX and... well ancient history. My mind is also fuzzy - I think it happens as we age. Best Regards!

[insighter]

Wsgi should hire you! They clearly need someone who can summarize the current situation, discuss the potentials and perhaps crunch some numbers. Would be helpful!

[get-e]

Absolutely stellar summary Madmonks.

I too am from the distant GTEL Sanswire days. Haven't even thought about WSGI for years until I read today's CNN article about Facebook looking for global connectivity systems & methods through which to expand its user base.

http://www.cnn.com/2014/03/27/tech/innovation/facebook-drones-lasers-connectivity/

What a shame the company's stratelite is still not a reality. There are literally billions to be made from FB, GOOG and their ilk over the next few years. Sad.

Alas, the stratellite concept suckered me in years ago only to end up with a huge loss.

Glad to learn Huff finally went to jail, even if only for 50 months. That was a lousy group of thieving scumbags masquerading as executives back in the GTEL days!

Last post. Goodbye and GLTA! I mean it.

Getty

[Acumen]

Since we all seek the truth, a few edits:

"Glenn Estrella, is a former JP Morgan Chase executive and is a Harvard Business graduate"
NO, Glen is a graduate of the General Management Program - "Although there are no formal educational requirements, proficiency in written and spoken English is essential". Six month fee based program - 1/2 on site - 1/2 off. He does not hold a undergraduate degree or MBA from Harvard University.


"Since this management team took over, the company has"
The company has experienced 83% of it's market cap vaporized while simultaneously being diluted 240%.

There have been two COBs - both of which left with no explanation (currently, the chair position is vacant)

"Securing funding has been a challenge"
Management obtained financing from La Jolla Cove Investors - a type of financing that is referred to as "Death Spiral Financing" due to the aggressive payback and equity structure.

Moreover, the financing agreement signed by new old management is now in litigation - a verdict in favor of the defendant (LJC) will have devastating effects to all stakeholders.

"the threat of bankruptcy has now passed"
The company is technically insolvent by all traditional methods of GAAP - current liabilities outweigh current assets 32 to 1 (3rd Quarter - 10-Q).

WSGI's independent auditors have raised serious doubts to their "going concern" status - unless new funding can be secured.

Two companies have been acquired - true!
To date, they have not yielded cash flow sufficient to pay their own operating costs.


There's lots of solid reasons why 680 million shares are selling for less than a penny. Even fewer reasons why it should be selling for more.


Do your own DD and BOL!!

[Squirt]

Thanks for the excellent thumbnail sketch of the company's current state of affairs. I've book marked it and plan to use it whenever a prospective investor asks about the company.....being careful, of course, to attribute the work, accordingly. LOL

It's always pleasant to see a well reasoned and articulate mind at work.

[thebull2]

Great summary mad, Hope you don't mind but I just cut and pasted it to my family and a few friends, encouraging them to consider investing. Thanks for taking the time to put it together.

[indyjonesohio]

Excellent work, MM. I think writing a good summary is a high level skill and I commend you for doing a great one. Thanks for your contribution.

[Mista Bentely]

Will/has anyone tried contacting Google and get this product in front of them? What has happened to our IR team? Yes I have contacted the company with my concerns::: generic response. Bentley

[turbodog]

Opinions are fine but calling this company a scam day after day is getting old imho

[Acumen]

Hi msturgeo,

Some things have changed in the last two months and some things haven't.

In the last 7 weeks investors have coughed up another 30% of what little market cap is left. Remember we currently split the non existent bacon 704 million ways.

Those Bib /Wasp assets we all pinned our hopes on were sold to some funky guys out West. We got the same amount of doe Rae mi as our Surfin CEO, Babs and Jeffy paid themselves last year. Oh yes, Glenny told us the reason we had to dump was we're broke but we did get ten million shares of paper that's common, not the preferred type.

So it's all about GTC and the non patented Argus. GTC as you know relies on GTC for revenue. Get it? Good, cause nobody else does. Argus, well the prototype is in pieces but the best parts are in Ohio.

Glenny still isn't a Harvard Business School Graduate.

Management still grabs shares and paid themselves instead of creditors, lien holders and the IRS.

The company website pumps Strat R&D even though SEC filed documents report ZERO R&D expenditures.

If you have any questions or just want to feel good about WSGI just ask! Remember, the closer it gets to zero...oh never mind !

BOL and do your own DD

[fathem]

Even though this is well written enough material events have transpired to warrant either an update or removal of the stickey.