Worthington Energy, Inc. (fka WGASQ)

[xZx]

i don't disagree with you. doing a word search in the Q for "senior" will pull up a sentence about the senior debt facility they are working on right now.

when they say there are no common shares or warrants in the new loans, that's true. there may be some preferred shares given to lenders, tho.

this puts them first in line. but in other sections of the filing we see 1st and 2nd lien was given to a few parties who made smaller loans a few months ago. these people will need to be negotiated with if a senior debt facility is put in place.

that takes time, but i think once they reach an agreement the stock will be transformed.