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But it's a nice even number,eh!
I will keep your suggestion in mind. In the meantime what value has WGAS created in the past five years?
I will try to invest in stocks where at least 50% of the investors have a snowball's chance of making a little, you know, companies with products and revenue and a viable business plan that includes something beyond the share selling scam that is WGAS.
With WGAS, the company gets money first and in their greed they allow the toxic guys to rape the true longs. In that regard, WGAS has had great success.
IMO of course.
No regard then for the person (s) who bought those shares at .028 and their ability to sell worthless paper? Interesting perspective. There are companies that actually build value for shareholders and when the stock is sold, the next investor has an opportunity to make money, a foreign concept in the pinks, I guess. GLTY.
The toxic guys will get as much as they can for as long as they can. They got their money back long ago so at this point it's all profit. Now it's just a matter of maximizing profit. The problem is, even trip 1 is profit for them but whatever it takes to keep buyers interested and keep it from no bid is a win for them. So we will keep hearing stories of litigation, possible financing, etc. for quite some time in my opinion.
Pinks like WGAS are not victims of toxic financing. The people who buy the stock from the toxic guys are the true victims here.
WGAS knew the terms of the deals and got exactly the amount of cash the toxic guys agreed to give them, all they had to do for it was print shares of stock, max the AS a few times, reverse and then go back to the toxic guys and get more cash. The WGAS guys are making a great living. The toxic guys are making a great living. The people who bought the worthless paper, not so much.
IMO, of course.
Maybe he gets a commission from it. There are certainly stocks with much higher dividends than that list but he says the key is the consistency. Being 28, he can afford a long-term perspective.
I am going to use your earth years age conversion, much better than dog years. Hope you don't mind.
My opinion, the debt holders are selling as many shares as they can, as fast as the market will absorb them, at the best possible price.
What I see on level 2 is that they hesitate to sell below about trip seven but, they do let a few go lower than that when they can without setting trip 5 or 6 as the new bottom. In my opinion, if they could have gotten trip 8, they would already be gone. But, I don't watch this one every day like some.
I think that attitude is the 9th sign of old age!
Anyway, keep in mind that this guy is 28 so he doesn't have the advantage of your, let's say life experience.
Collector's Universe CLCT
ConocoPhillips COP
McDonalds MCD
Pfizer PFE
possibly Verizon VZ
edit - he suggests these due to their steady, dependable performance.
Great, a bankrupt company partnered with a scam.
IMO, the judge is not the least bit concerned with the day-to-day operations of WGAS or anything that Volk says to his shareholders regarding financing, mergers, or ongoing dilution. WGAS is not the company in bankruptcy and apparently, they are not even a debt holder but they are trying to get in line behind the true debt holders of Virgin to get whatever scraps are left.
Hold onto that secret tryst fantasy. It is probably far superior to any real secret tryst you might have.
And, I renewed my paid status today, my arm was twisted to attempt to save another true long. So, I can post anywhere now.
I will be back on your board next time it's cold out or I sit in front of my computer for more than a couple of minutes a day.
My broker gave me a list of his top dividend stock suggestions. I was going to save it for you. I'll send it to you, if you're interested. I did ask him if he would make out better than I would on the deals and of course he gave me the usual BS about my best interests, etc.
I hope you are correct but, I also hope the company isn't doing that just to sucker people into buying this POS in fear of missing that big run up that has been in the works for how many months now?
IMO of course.
Hey, long time Derfie! I am busy catching up. If it's any consolation to either you or Churak, according to my PM's I am either the product of an incestuous relationship or a female body part that, while it has a mind of it's own, has no measurable IQ!
My theory is that the mullets have found one Admn with a weakness for moonshine or crack and they are taking full advantage of the situation. Will Matt even recognize Hubville when he returns?
Worthington's only hope for anything is if they are a creditor so, without that status, they have nothing.
What judge in his right mind would allow a company in bankruptcy to merge with a company as deeply in debt as WGAS? WGAS has shown no ability to conduct any successful business beyond selling shares of stock. WGAS has a possible source of funding but nothing secure. I can just hear the attorney argument now. "Your honor, I represent Paxton, well we used to be Paxton anyway, but now we are Worthington and we had a potential deal with Virgin. The company now might have some potential financing,,,,,,etc, etc" That sure wouldn't fly in any court I've ever seen.
Also, if Virgin had viable assets, they would have already partnered with a larger company to develop their assets. The fact that they were unable to do this before bankruptcy is very telling, especially if they were successful before the setback of the hurricane. Larger companies bailed out so many smaller ones, wonder why they overlooked Virgin?
There is no silver lining here in my opinion and it's a shame that so many have lost so much.
So, it seems that Churak has recently forfeited his golden key to upper class status here. Is there a bidding process for the masses or will the key be retired like the jersey of a much revered pro athlete?
Thanks, there's some clarification. I think that's what was needed much earlier in this discussion. I wasn't aware of that requirement and it seems that many others weren't as well.
Because it's restated in the 8k out yesterday with more detail. Paragraph 1 at the end. Not beating a dead horse here but it was worth noting for anyone who hadn't seen it and there was zero discussion on the board about it. Seemed significant, that's all.
Done with discussion
http://ih.advfn.com/p.php?pid=nmona&article=57830293
I agree, MOST debt holders convert in even tranches, especially when they have millions and millions of shares to dilute as it the case here. There is absolutely no significance to the even numbers.
Also, the judge does not care about the share structure of WGAS or probably even understand it. WGAS is not the focus of the bankruptcy proceeding. Most judges are not fully cognizant of the ways of the penny stock world. The judge will rule on what is placed before him/her with an extremely narrow focus on the actual bankruptcy with no regard for any ancillary deals or third party companies that had Possible deals in the works. If WGAS has any standing, it will get what any other creditor gets, which is probably nothing.
IMO, of course.
Same here SBD.
Most boilerplate crap comes much later in the filings. There are many reasons for reverse splits and OS increases. Let's just hope that theirs is positive. So far, it appears that they are doing a lot of things right so there is no reason to think this is any different but it isn't something to be completely ignored, imo.
read the 8k - first paragraph.
Thanks for another perspective. I wonder why they would be considering a reverse stock split then? It seems that they have secured plenty of cash already. Any thoughts?
Maybe the proposed share structure changes will help facilitate the deal? There are certainly all kinds of possibilities here.
Maybe a new partner. Hmmmmm. Interesting.
I think the effective date of any reverse split depends on the voting rights carried by any preferred shares, what impact it will have on preferreds and who owns them. Thanks again, I will look into it.
I hadn't picked up on that date. Lots can happen between now and then I guess. Thanks for your reply. I will re-read with the July date in mind. I just found it curious that I haven't seen any mention of a reverse split proposal here.
Does this portion of yesterday's 8k concern anyone?
With WGAS all that one can really look at is past performance, which everyone knows to be an excellent indicator of future performance. Since we have virtually the same cast of characters running the scam, all indications are that it will continue as a share selling company until no more shares can be sold. After all, millions and millions of dollars have been pocketed here as a result of the share selling business. No value has been created for anyone who purchased the shares.
Perhaps I would choose another term for what bulls spread around deeper.
Now, now, no speculation or assumptions, I was going to say fantasy! JMO!
Thanks Jim01, what a beautiful reminder of the sacrifices our troops make every day!
But, let's not forget to celebrate today. After all, it is GEEK PRIDE DAY! Geek is the new sexy! So, let's get out our pocket protectors, night vision contact lenses, and role play handbooks (because we need to know when to choose a wizard or when a warrior will do).
And, just for today, when you Google, remember that you have the sum of all human knowledge at your finger tips so, please, out of respect, refrain from typing in the word, "boobies"!
No, but Google Translate should be classified as a new Language and Google should conduct classes so we can all learn it! Ha!
It is not the debt holders modus operandi to hold for a court decision. They will have dumped those WGAS shares at the earliest opportunity, that's what they do.
Yeah since my post someone threw another $492.00 at this. LOL!! And the bid side is very weak.
Probably flipping to try to recover a small part of the investment here. It would be smart to flip this for a tick or two when possible.
Wow, a $20 paint job to get it to .0008. Ouchy today.
Limited time this morning so I will respond to all your inquiries at once.
I notice that the facts I posted are totally ignored. These are, 3 reverse splits to date, no revenue, massive dilution and a 99% drop in price. So, now to address the speculation.
In an area so prone to hurricanes, a company with "massive" holdings should have had some sort of cushion, including cash reserves, adequate lines of credit to sustain them for 1 year (yes, "massive" holdings or assets can actually be used to get adequate lines of credit) or, even insurance coverage. The fact that they had none of these leads one to question Virgin's basic business acumen and the prudence of the guy who is speculated to be the future leader of WGAS.
Court proceedings are a fact of life in penny stock land. Most never add share holder value. They do keep the story going and hopes high for just a bit longer though, eh? After all, when the company's only business is selling discounted shares to the toxic guys, it is important to keep the story going as long as possible.
Any company that goes to the toxic well over and over without producing a product or revenue will see the price of it's stock spiral downward just as WGAS stock has. When the company has no value, the market figures it out eventually. Add to that, 10s of millions of discounted shares hitting the market each and every month and the travesty that you see here is the result. This decrease in price is all about the lack of performance and poor decisions by the company and it's management. Non performance = 99% drop in stock price and eventually no-bid.
ALL IMO of course. Enjoy the long weekend.
and there will be many more court documents as you call them. I call them schedules of court proceedings. For the creative, much can be speculated from the schedule of proceedings I guess. So far, speculation here has a low percentage of accuracy.
But where is that filing that is now late? It shouldn't be so hard to provide a basic filing on time, especially when no business is being conducted and no revenue is being generated. Let's see...rent, salaries, toxic debt, utilities, why it should be easier to produce than a listing of household expenses and earnings.
The company has been downgraded from QB to Pink as a result. Highly compensated management must be too busy to do even the basic job.
IMO, of course.
The facts are black and white. The stock has performed dismally, theories and speculation have not been accurate to date no matter how much so-called "DD" is posted. IMO, of course
Again, my facts remain undisputed.
3 reverse splits
No assets
Millions in Toxic debt
More shares left to convert than the current AS of 2.49 billion shares will accommodate.
To date, this stock has been disastrous for anyone who held long and marginal for most who have traded it.
You have a great day too and enjoy the long weekend!
I see you don't dispute my facts. Again, the percentage of incorrect DD far outweighs any correct guesses, I mean DD, that have been posted here. DD gleaned from non-audited info provided by non-revenue producing companies has not been accurate. The facts remain indisputable. IMO, of course.
Two questions:
Is Robert F. Smith the one who led Virgin to bankruptcy?
Do Virgin's huge assets outweigh it's debts and if they do, why is the company currently in bankruptcy?