Worthington Energy, Inc. (fka WGASQ)

[bigfish1972]

Here's why WGAS doesn't go down much further than it is right now:

From the last 10-Q:

Asher is permitted to convert, starting on October 24, 2012, December 24, 2012, January 13, 2013 and March 12, 2013 the outstanding principal and accrued interest on the Asher Debentures into shares of our common stock at a conversion price per share equal to fifty percent (50%) of the average of the three (3) lowest closing bid prices of the common stock during the 10 trading days immediately preceding the conversion date.

Now I'm not that good at math, but it looks like the 3 lowest closing bid prices for the 10 trading days preceding 01/13/12 was about .014. Divide that by two and you have .007, which is what Asher's cost per share is for the latest conversion. One must assume that Asher converted quite a few shares on the 18th, but seems to be laying off now for higher prices (judging from the lack of bid-whacking today).

This is all just my opinion. Something tells me we get a nice PR soon and a good jump in share price.