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Any bid should be dumped into and wiped out. Let shares pass into the next generation of fools.
Yesterday's bump was an opportunity for some quick exits at retail prices. 2M shares dumped at $0.0001 already.
People have been saying that all along, and the more they buy, the more it drops. This is poison, skull and crossbones, (insert favorite evil description here).
Guaranteed? That is interesting!
Look at the chart we can fly this thing
Ok how is this, don't count on WGAS moving higher or remaining at this level tomorrow. Case close !! Good night !!
This will be down again tomorrow, guarenteed
Wow load up, the volume is going through the roof !!! LOL !!!
actually, just $7.20 + commission
LOL funny someone just wasted $80
NOW IS THE TIME TO BUY THIS WE WILL BE SEEING 0.05 VERY SOON
The fraudsters are caught in a hard spot. If they try to do anything, they have to prove its legit else they will get slapped silly by the authorities. Since their first impulse is to lie, they don't know what to do. Prediction: This has already turned to stone, and will stay that way. The End.
I don't have a clue. This company has deceived a lot of people.
Do you know when the WGAS putz's plan on becoming a real company?
A PR will be a lie, which will haul off someone to jail.
Right now there are three sets of sheep:
- debt holders
- shareholders
- management
All need a little shearing so their worthless paper has the chance to have value
No compromise. No value. Ever again.
I believe we're saying the same thing.
So its all about getting enough sheep to pay off the idiots who bought so much worthless paper they can't even fit it in their fireplace. I think we are saying the same thing.
Legacy debt holders would have to be a part of the "grand compromise".
As it currently stands:
- Debt holders own a debt that cannot be collected on.
- Common shareholders own a stock that has no practical value and has no trading except periodically for professional MM's (below $0.0001)
- Company will face issues with shareholder complaints if it R/S's without Common consent
Seems to me that debt holders and WGAS management have much more to lose than Common at this point. Common is already sub $0.0001 so have essentially a valueless security. Debt can decide if it wants its interest to be permanently uncollectable too (worth about $0.0030 on the dollar without a compromise if MM's will pick it up).
If there's a workout agreement that erases 100% of all debt, then everyone will have a haircut, but nowhere near the degree the parties are currently facing. At that point liquidity is restored and all parties move forward together.
Exactly. If there are legacy debt holders there will be noise.
Everything you have said is logical however the actions of the board and its President have been illogical and according to the SEC criminal.
The ball is firmly in the court of those who brought us to this place;its their first move.
GL Silver
Dumping doesn't have to happen into the Bid. Can be selling at the Ask when its rising if there's real business (real value being created for shareholders). Not arguing or reinventing the wheel since all the parameters for operating a real company and generating real wealth are known.
This is the only big decision for all parties collectively: do they want money tied up in a dead scam (present), or will there be a real company that generates net wealth and a sustainably appreciating share price (no pump and no dump).
Everything else is noise.
You have do to more than just issue, you have to sell them, too. Dump to zero, again.
No magic. Debt is wiped by issuing fresh shares post R/S and zeroing out said debt in return. If there's 100% issuance, then there's no additional debt to convert, hence no dumping possible. Lots of things would have to happen within what I outlined, and the parties can work out the details.
In addition there should be a commitment by the company and its supporters to form a huge Bid so the price doesn't collapse post split. That would stop the erosion of market cap and value would be preserved.
Up to the managers and debt holders as to whether they want to continue to hold dead money with zero shareholder support and the chances of complaints to the SEC at every turn, or whether they're prepared to compromise and reach an agreement to move forward amicably.
WGAS management should have treasured their shareholders instead of fostering an environment where they were continually pumped with misleading PRs, dumped on by debtholders and R/S thereafter. Rise and repeat.
LOL yeah R/S and debt wipeout just like magic -
That's true. Assuming if a R/S were handled comprehensively (total elimination of debt, new management, new company, old managers voluntarily relinquish any shares, + commitment not to dilute either from the company or fresh debt for say 12-24 months), then non-control shareholders (retail and non-debt holders) wouldn't really have a reason to object.
That gives the incoming company the opportunity to succeed, and no way for shareholders to be dumped on.
Not saying it'd be easy, but trust needs to be bridged from the company and debtholder side to overcome shareholder objections.
Also gives everyone an opportunity to progress with their lives and not have dead money sit in a shell valued around $0.000001.
Any RS would have to get past the SEC and the numerous complaints it would generate from Shareholders.
If there's a real wipe out (R/S @ 1,000:1 or higher + conversion of all debt to equity) then its a total reset and the new management and new company proceed forward. If that were the case, hopefully they'd have learned from the incumbent screwballs and not go the dilution route.
The easiest thing in the OTC is to give away that which one hasn't paid for -- ie Common shares. Those Common shares and the investors acquiring them are the most valuable thing a company has.
Yet to see one way or another.
The shell might be tainted, hence another episode of 'Back to Zero', playing at an exchange near you!!
With 2.5B O/S currently, even if a new operation and new management team comes in, WGAS will have to R/S again. Maybe it'll be done right this time with a 1:1,000 R/S to get the O/S to 2.5M shares and a $0.10 start price. $250k is a very fair market cap for an abused shell.
There are greater fools even among market makers - should we feel sorry for the poor schmuck that stuck himself with 41 million shares of worthless paper? Maybe, just a little. A little teeny tiny bit. Maybe.
Trades below $0.0001 are a market maker. All of the 41,901,933 volume is @ $0.00001. Grand total of $419.01933.
There's no retail market for WGAS. Couple of market markers periodically trading between the 5th and 6th decimal place.
WGAS has no current reports, never had revenue production of any kind and has zero operations.
$0.000001 is too high for this company.
are you a volume scanner? I have a good set up but could use more help.
After WGAS is R/S will a new management and new company come on board?
FOR IMMEDIATE RELEASE
2014-248
Washington D.C., Nov. 5, 2014 — The Securities and Exchange Commission today announced enforcement actions against 10 companies for failing to make the required disclosures about financing deals and other unregistered sales that diluted their stock.
Worthington Energy Inc. – Failed to file Form 8-Ks disclosing three unregistered sales of equity securities, and failed to file a Form 8-K disclosing a financing agreement. The Corte Madera, Calif.-based company agreed to pay a penalty of $25,000.
http://www.sec.gov/News/PressRelease/Detail/PressRelease/1370543368026#.VFpU-tm9LCR
The company has gone silent.
The lizards have crawled under their respective rocks.
$WGAS is garbage.
Does anyone know if this company is in operation?
WGAS should be trading at $0.000001 not $0.00001.
Thats Funny I tried to warn you here.
lol...yup - lots money was lost here. as in many penny stocks.
good to hear from you.
I GUESS SO - HE PAID IN FINES WHAT I LOST AND I WAS LUCKY TO GET OUT AT .02 - A CROOK WHO IS GOOD AT HIS TRADE!
A true master of his craft. The $25,000 fine? He probably had to rob the coffee fund for that ;)
A 3 year train wreck - give credit where its due I admire a crook who really knows his business like Volk!!!
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Management:
Charles F. Volk, Jr: 775 450 1515
Chairman & CEO
Mr. Volk brings over twenty-seven years of professional experience running public companies in various industries including oil and gas. In addition to his current responsibilities for Worthington Energy, Mr. Volk has been the Chairman of Bermuda Segregated Funds, Ltd., an open-end mutual fund with offices in Bermuda, since 2007. Prior to that, Mr. Volk was the Chairman & President of Osage Energy Corporation. Mr. Volk was also a co-founder of an operating copper company, Mercator Minerals Ltd., a component of the TSX Mining Index. In 1981, Mr. Volk earned a BS degree in Business Administration from Menlo School of Business Administration in Menlo Park, CA.
Charlie Adams: 620 205 6500
President & COO
Board of Directors:
Charles F. Volk, Jr.
Chairman
Charles F. Volk, Jr. has been our Chief Executive Officer, Chairman of the Board of Directors since March 2010. Mr. Volk has been the Chairman of Bermuda Segregated Funds, Ltd. an open end Mutual Fund in Bermuda since March 2008. Mr. Volk has also served as the Chairman and President of Osage Energy Corporation from 2004 to 2007, as the Managing Director of Cyril Petrochemical Corporation, as the Managing Director of Norman Capital, Inc. from 1992 to 1997, as a business development consultant to Asset Growth Partners, Inc. from 1991 to 1992, as President of Gold Circle Mines, Inc. from 1983 to 1991, and as General Partner of Oil & Gas Partnerships from 1981 to 1993. In addition, Mr. Volk participated in the management and marketing of Esilux Corporation, an international marketer and distributor of specialized industrial safety systems. Mr. Volk received his B.S. degree in Business Administration from the Menlo School of Business Administration in Menlo Park, CA in 1981.
Warren Rothouse has been a Director since October 2012. Since February 2003, Mr. Rothouse has been Managing Director of Surety Financial Group. From 1997 to 2003, Mr. Rothouse was owner of Country Stove & Chimney Shoppe. From 1989 to 1997 Mr. Rothouse was a Sales Manager at Thulman Eastern Corporation, a sub-contractor to the building industry. From 1986 to 1989 Mr. Rothouse was a Sales Representative at Thulman Eastern Corporation. Mr. Rothouse attended Towson State University.
David E. T. Pinkman
David Pinkman has been a Director since January 2013. Mr. Pinkman is CFO and a director of Saccharum Energy Corp., a TSX Venture Exchange-listed junior oil and gas exploration company, and has held these positions since October, 2009. He is also currently a director of Red Rock Energy Inc., a TSX Venture Exchange-listed junior uranium exploration and oil and gas exploration company, and has held that position since April, 2005. Previously, he was CFO and a director of PanWestern Energy Inc., a listed junior oil and gas company, and served in those roles from November, 2001 to April, 2010. He was also President and a director of Explorator Resources Inc., a CPC company, and held those positions from September 2005 to January, 2007. Prior to that, he was Vice President and a director of Powermax Energy Inc., a TSXV-listed oil and gas issuer, from January 2002 until September, 2005. He was also a director of Renewable Power & Light Plc., an AIM-listed independent power production company, from June, 2006 to October, 2007. From January 2001 to November 2001, Mr. Pinkman was Vice President, International, of Maxim Power Corp. (formerly Jupiter Power International Inc.) (TSXV listed). He was executive Chairman and a director of Jupiter Power International Inc. prior thereto and from August 1993 until December 2000.
Mr. Pinkman was a partner at the law firm Pinkman, McArdle, Barristers and Solicitors from 1991 until December 2000. Called to the bar in 1985, as a lawyer he has practiced primarily in the areas of corporate and securities law. He has served on the boards of a number of public and private companies carrying on business in the resource and other industries. In addition, Mr. Pinkman has served on the boards of a variety of local volunteer organizations, and continues to serve as a director and Vice-President of Wild Rose Motocross Association, a non-profit association registered under the Societies Act (RSA 1980, as amended). Mr. Pinkman obtained a BA degree from the University of Calgary in 1980, and an LLB degree from the University of British Columbia in 1984.
As of June 26, 2014 there are 2,532,318,855 shares of registrant's common stock outstanding,
Authorized shares = 6,490,000,000.
Investor Relations:
Surety Financial Group
642 Main St
Reisterstown, Maryland, 21346
Tel: 410-833-0078
Transfer Agent:
Nevada Agency & Transfer Company
50 W. Liberty Street # 880
Reno, NV 89501
Tel: (775)322-0626
Fax: (775)322-5623
Email: stocktransfer@natco.org
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