The facts show WGAS is a POFS. 1T+ shares sold in four years, not one drop of oil extracted and $0 revenues on the books.
If there was a will to build a oil company and not a share selling scheme it could be done. All four points are very achievable.
Specifically concerning #3, Mr. Volk could simply vote his shares in favor of whatever the majority consesus was on a share structure freeze, or just as easily announce that he's not going to vote at all. If Broadridge conducts the votes, it'd be very easy to see if Mr. Volk kept his word.
History of reverse splits under Toxic Charlie's reign:
Capital Change=shs decreased by 1 for 3 split Pay date=07/15/2010.
Capital Change=shs decreased by 1 for 2.4068 split Pay date=08/06/2010.
Capital Change=shs decreased by 1 for 10 split Ex-date=11/02/2012.
Capital Change=shs decreased by 1 for 50 split. Ex-date=10/02/2013.
The paradox of iHub: buy high, sell low
