Penny Stock News: World Surveillance Group Awarded First Government Contract

Listed in Penny Stocks, Stock Picks, StockGuru.com, Day Trading, Best Stocks

KENNEDY SPACE CENTER, FL–(Marketwire – Apr 29, 2011) – World Surveillance Group Inc. (OTCBB: WSGI), a developer of lighter-than-air unmanned aerial vehicles (“UAVs”) and related technologies, announced today that it was awarded a $200,000 contract from Space Florida, an independent special district, a body politic and corporate, and a subdivision of the State of Florida. The contract is to create a Performance Data Package in connection with the flight testing of WSGI’s Argus One UAV at the U.S. Army’s proving ground facility in Yuma, Arizona in May/June 2011.

This contract follows a financing commitment of up to $1.5 million from Space Florida, which WSGI intends to use to expand its Florida-based operations and to finance the previously announced potential acquisition of Global Telesat Corp., a provider of satellite tracking services to the Department of Defense and other customers.

Penny Stocks are stocks traded for under $2 and they represent the small cap companies. They trade on the OTCBB so you will not find them on the major stock exchanges. They are very cheap stocks and normally come for businesses needing capital. They are a very risky investment as the business can go under and leave you with a stock worth nothing. However that being said penny stock trading can be a great money maker, and there are numerous traders who make 6 figures and more from them each year.

The best reasons to trade in penny stocks are the fact that they do not require a large initial investment, meaning that they are an affordable investment for many. Penny stocks are cheap. For example if you were to buy 1000 shares in a company with shares at 10 cents, you would only require an investment of $100, whereas if the shares cost $5 you would require an investment of $5000. Penny stocks also have the potential of huge gains, and have been known to rise as much as 1000% daily. Therefore your $100 investment can be worth $1000. This is very unlikely to happen to other stocks from large cap businesses.

 

Article source: http://www.marketwire.com/press-release/world-surveillance-group-awarded-first-government-contract-otcbb-wsgi-1508172.htm