DD Support Board and Research Team

[nodummy]

WGAS - Looks like the bigger issue is that Volk was in bed with too many toxic financiers.

Their last 8K shows that between January 1, 2014 and September 4, 2014, WGAS issued 2,821,101,073 free trading shares of stock to those toxic financiers to dump into the market.

On September 4, 2014, 2,821,101,073 of the 2,869,519,180 shares outstanding were laundered through toxic Note holders. That is nearly the entire O/S. So basically WGAS only existed to line the pockets of the Note holders.

When you have 2,821,101,073 shares being dumping into the market in that short of a span of time there is no way you can find enough retail investors to buy the stock fast enough to keep the price from dropping no matter what you tell them in press releases or how many pumpers you plant on the message boards.

A majority of those 2,821,101,073 shares went to two entities - Tarpon Bay Partners LLC and IBC Funds LLC.

Tarpon Bay Partners LLC is a fairly new Florida business entity set up by Stephen Hicks. For years Stephen Hicks did all of his toxic financing/dilution through his Ironridge family of companies (Ironridge Global/Ironridge Partners/Ironridge Advisors/Ironridge Capital). For some reason starting in February of 2014 a lot of the debt once held by Ironridge has been circulating through Tarpon Bay Partners LLC instead. Maybe the SEC is finally close to a settlement from when they sued Stephen Hicks and Ironridge in 2010 and Hicks knows that Ironridge may be headed to a similar fate as Asher Enterprises/Curt Kramer with the his name being black balled as a bad actor:

http://www.sec.gov/litigation/litreleases/2010/lr21709.htm

http://www.sec.gov/litigation/complaints/2010/comp21709.pdf


IBC Funds LLC is run by Samuel Oshana

IBC Funds/Samuel Oshana is a much lesser known toxic lender, but they are becoming more and more common around the stinky penny stock world so I'm sure they'll have their day with the SEC eventually just like all the other toxic financiers that abuse the laws to get free trading stock to dump by the billions into the market.


The writing has been on the wall though for WGAS for a very long time. The balance sheets have shown a slew of toxic debts since 2011. WGAS has issued toxic convertible debt Notes to AGS Capital Group, Asher Enterprises, Hannover Holdings, IBC Funds, Ironridge, Magna Group, Redwood Management, Tarpon Bay Partners, and many others.

After WGAS did their 1:10 reverse split in November of 2012 they issued about 1,014,000,000 free trading shares to the toxic financiers killing the share price and sending it down to the $.000s and causing them to do a 1:50 reverse split in October of 2013.

The cycle just repeated itself after the October 2013 reverse split. The balance sheet and history of the ticker should have made it easy to predict what would happen after the October 2013 reverse split (same thing that happened after the 2012 reverse split).

So WGAS does a 1:50 reverse split in October of 2013 then proceeds to issued more than 3,071,000,000 free trading shares to toxic lenders sending the price no bid.

In June of 2014 WGAS announces they will be doing another reverse split - this time a 1:25 reverse split - so they can repeat the cycle only it looks like FINRA put the brakes on the dilution scam because the reverse split never got approved. WGAS will be stuck on no bid forever.

What people need to understand with these tickers that are overloaded with toxic debt is that the toxic Note holders get their free trading stock at usually a 50% discount or more to the market price. They don't care if the price drops because the lower the price goes the better they make out with their profits. They can dump a lot more stock in the $.001s and the $.0001s for big profits than they can in the $.01s and $.10s. The toxic lenders can only hold up to 9.99% of the O/S at one time so they get a bunch of shares dump them as fast as they can then go back for more and just keep repeating the cycle for as long as they can. In a case like WGAS when you have multiple toxic lenders competing with each other to sell stock into the market there isn't even time to try to run a good pump&dump on the ticker, but that doesn't mean you won't have people planted on the forums and other social media outlets for the mere purpose of trying to pump the stock to draw in naive investors to buy the stock from the toxic lenders as the price is falling.

Traders need to take the time to look at the filings and be able to identify a ticker with a Toxic debt problem and trade accordingly. Capital letters and exclamation points do not make up good due diligence.