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Thanks Bert!
What really happened on the Ides of March???
I am well-aware but MOST OTC "investors" do not carry those balances in their trading accounts and most are not aware of the many options a well-funded account provides.
In my opinion, what we see here is dilution. Since the company does not generate revenue through operations, maybe that dilution is necessary to move the company towards revenue. There is no way to know because the company does not communicate and, recently, when they have communicated, it was unclear and misleading in my opinion.
Thanks IB! I am only an observer here. I do hope you make some money though. I prefer a company with a product other than stock and revenue from that product, a rare find in the OTC. Maybe WGAS will get there but it seems less and less likely.
There are a variety of opinions about WGAS. Much of this could be clarified by some simple, straight-forward communications from the company or IR. How much are the shareholders paying for IR again?
You will not find any toxic funders selling their wares through Scott or Etrade. There is a reason they prefer the services of expensive, full service brokers to bleed their wares into the market. It makes them the maximum amount of money on their investment. Don't forget, the product is stock. The wholesale customer is the toxic guy. And retail is right here buying and holding for the big pay off. Sad.
Buying does not require the same finesse. People post on this board who have bought millions of shares at sub penny prices through the discount brokers every single day.
You are wrong about that. A t-trade is a cumulative reporting of an all or none order that has been processed throughout the trading session. The mm has up to 20 minutes after the session closes to settle for the day.
If you prefer to think it's MM games, shorting or loading the boat that's fine but I suggest that you watch the "time and sales" ticker instead of Level 2 when trading pennies. Time and sales is a much more accurate depiction of actual order size and it gives a much more honest picture of what is going on with actual trades.
YW. I would look more favorably on this stock if the company communicated with the shareholders, or if the IR company had any actual information.
It is understandable that they need money to keep the doors open and the lights on, although the salaries are way out of line for an exploration stage company, in my opinion. Or if they would say that they need money for attorney fees in order to free up their assets. But, instead they say nothing and leave it to others to speculate enough to keep the shares moving. This is a clear indication to me that they sell stock, nothing else.
I find the total silence more than disturbing. Maybe they will run it again, I hope so for those who are holding here.
Yes, of course, but there isn't much incentive to buy that way, why pay huge broker fees to buy like that when you can just as easily accumulate through a discount broker? The trading fees those guys charge would add so much to your cost per share that there isn't anything that would make it worthwhile to use that type of broker dealer on the buy side, in my opinion. At least I would not buy like that on WGAS where there are millions and millions of shares for sale every day at under a penny.
T Trades explained - if a person or a toxic funder wants to sell a large block of stock they ask their broker to sell it as an All or None order in the vicinity of a certain price. Since the person selling generally got the shares either for free for services or at a deep, deep discount to the market, they can be a little more flexible than a retail seller.
The broker will work the order to get the best possible price since his commission is a percentage of the sale. So, during the course of the session, the broker sells into the bid, a little at at time, always trying to maintain the price of the stock. Retail is bidding and the broker sells in small chunks.. Then, immediately after the trading session, the broker lists the number of shares sold and the average of the price per share he sold at all day.
So, again, this does not generally mean that anyone is accumulating except small retail buyers who have been convinced that this is going to be the next Exxon and they are getting the shares at a real "bargain". If the seller just put the whole blocks up on the ask day after day, no one would be buying. That's as simply as I can explain what is happening here day after day after day..........This is why you see those 10k blocks hit over and over and over again and they never disappear. This is not MM games or shorting, it's dilution every single day.
The only way to really eliminate debt is to have revenue to pay it off. IF (big if) there is actually some non-equity financing and I highly doubt there is for a company without revenue and with it's only asset in dispute, but IF there is really alternate financing, what are the terms? what will happen if the company is not able to make the payments and who in their right mind would loan a company that has never produced anything money?
There are plenty of companies with products in the market already that can't secure financing. I don't understand why anyone would think that Charlie can get a huge loan with a handshake and a kiss.
This stock has always been about what is "going" to happen. That's what has made the company so successful at it's ONLY business of selling stock. They are very good a dangling carrots. Nice, big, orange ones that a just out of reach. Maybe they will get full control of that VM179 carrot to dangle or, maybe Charlie will move on to one of those other two companies he's just started.
But, you are right, the financials here are unimportant. No revenue, no assets that are not in dispute and more and more debt. But, maybe the current debt will be converted to debt with another lender. Wow, now that's a step in the right direction. In order to really pay off debt, one must have revenue. Moving debt from one lender to another is not really "paying off debt", or am I missing something?
Oh but it will get exciting - those 2012 YE financials will be out soon, you know, the ones the accountants have been working on for three months now. Those should be some interesting numbers. Let's see, no revenue, and lots of, ahem, operating expenses. Why, I bet it will be maybe 5 pages of expenses. And, Q1 of 2013 should also be out.
My thoughts are that there is really no reason to pump the stock around the time those numbers are released. Since the company and it's management has not performed at all and since they have given away their only asset, it's probably best to let these financials out as quietly as possible and not start back into the share selling business until maybe mid to the end of April. So, everyone who sells shares is on vacation right now, and a well-earned one it is. Millions and millions of shares have been sold since the last reverse that was so eagerly embraced by the shareholders. All in all, a very successful year for a share selling operation. kudos to Charlie and co!
speaking of annals-
"Everything is changing. People are taking their comedians seriously and the politicians as a joke." - Will Rogers
Will never loses his relevance, it seems!
what do you think is going on here - maybe something is finally happening with the shell? checking for filings, etc.
LOL - enjoy your evening and don't fall victim to the urge to renew! Resist!
I wonder if the stock holders, who paid for that survey, could get access to it to get a clarification about the one pool vs. many pools thing. Maybe I will call IR because they are so responsive and knowledgeable. That should be interesting.
Edit to reply to Tesla (last post of the day for me) Anyway, Of course I paid attention. I read on this board how Tony was our savior and Charlie was Satan himself. Tony was doing loyality tests of the shareholders and all were going to be well compensated for their long holds and continued buys. Tony was tied in to the British banking system big time and he had connections and brilliance that we could never begin to understand. Then, suddenly and without warning, everything changed. Now Charlie is "the Man" with "the Plan".....do I have that right, or did I miss something?
Hopefully that "bunch" will be bigger and more lucrative than the highly touted, long-awaited "bunch" that the former CEO took with him when he left. Funny, how that "bunch" shrunk to worthless when it was no longer a useful, stock selling tool. Oh well (pun), on to the next stock selling tool.
I was wondering if it's the same or a similar process. Do you know?
It was an honest answer. In my experience, holding "long and strong" is not the correct way to play these if one must play them at all. We all have our own tolerance for pain though! I Hope WGAS is a 1000 bagger but hope is not a trading strategy, is it? I just look at verifiable information and don't get caught up in the "don't miss out" "PR will make it fly", penny stock emotion.
No revs, no prospects, toxic financing out the wazoo, that's what we have here.
I would guess it depends on the terms of the lease and whether or not the fracking process is involved. I do know that it's legal for natural gas leases in most areas where fracking is legal.
Thanks again for your insight.
Because that is my experience in observing and trading these highly speculative, easily manipulated, toxic financed, no revenue companies. If your experience is different, I respect that.
WGAS is a serial reverse splitting and diluting machine. It is right there in the filings. WGAS has zero revenue and no assets that are not in dispute. Again, this information is easily verified. WGAS has diluted this by millions of shares a month since the last reverse split. The numbers are posted.
All else here is just speculation.
Thanks, that's good info to know. I have some experience with "fracking" leases for natural gas and I know that they drill down vertically and then run one or multiple shafts horizontally off that well. They can drill horizontally even under adjoining, unleased land and the gas company and property owner own all the gas that comes up through the well. Sounds like it's different for these oil wells. Do they frack at all?
So, if I have a bowl of oil (salt dome) and I own 5% of that bowl and EXXI owns 95% of it and the get their drill into it first and drain the bowl, how is that a good thing?? It seems to me that EXXI will drain the bowl long before WGAS can even get a drill started. Maybe I am over-simplifying? I see it as an underground lake with a finite supply of oil. Is that correct?
Oh, just an FYI, the All or None (T Trades) print as one block at the end of the session but that block represents many, many trades at varying prices so it is not an indication of anyone "loading the boat". It's a series of trades listed at an average price, nothing more.
I say front loaded pump and dump. when you see that remember the traders creed "trash is for trading, and trading fast, if you hold too long the stench just gets worse and worse!"
They are actually orders that a broker is working for a customer all during the trading session. The customer gives the broker a price range and the number of shares for sale and the broker works all day to get them sold at that price. At the end of the session, if the order is complete, the broker lists it on the tape at the average price. It is a way for large sellers to hide the order size so "investors" are not scared off the ask. When the sale is green it means that the broker got his customer's orders sold at better than the closing price. When it's red, he averaged less than the closing price, it's really simple. Toxic financiers have very "special" relationships with their brokers, just as they do with the companies they finance.
I see All or Nothing orders (T-Trades) every day and this is a sure sign of continuing dilution, no matter how it's spun. AON's are a way to hide the actual size of the block being sold and it's a daily event here. For those who are actually holding long, that's not ever good.
My money says that there is more debt now than there was last fall. No revenue, no undisputed assets and the only business being conducted is the selling of shares, millions and millions of them. But, we have no way of knowing, really, do we? The company chooses not to communicate with shareholders or even the IR firm. Wonder what is being paid to that firm for Investor Relations? I don't think the shareholders are getting their money's worth.
I never read the stickies or Iboxes on stock-specific boards, I just like the term.
Maybe we should have a whole sticky board. Everyone could post whatever is important to them and each post could start with the stock ticker. If someone considers sticky info to be an integral part of their dd, they can just go to the Sticky Board and type their ticker into the search box. The one sticky on the ticker board could read, Go to the Sticky Board for additional information.
Or this discussion can just continue until the next minor change. Either way, it's very entertaining. David says next week's discussion will be Slime on Ihub. Might I also suggest that this topic be given more than a week.
I think so, after all, this place is filled with it! Anyone who has a problem with slime should not hang here!
Enjoy your weekend.
I, for one, am thoroughly enjoying the sticky discussion!
Thanks!
Not true, they can comment at ANY time. There is no such thing as a quiet period in penny land, that is just another piece of mis-information put out to mislead the uninformed.
WGAS will put out information when it is most beneficial to the company and the toxic finance folks. Their product is shares of stock. Their wholesale customers are the toxic guys. Their retail customer is right here reading a lot of conjecture. Good luck and be careful.
Limited to one post per day on the other board but, I was hoping it was not too. I think it is though. Tread carefully.
WGAS really needs to get into marketing mode. Since their only product is shares, they will need to give a whole lot of them to the toxic guys to pay "operating" expenses at these rates. If they don't get the price up, the next reverse split is less than six-months away. That will be the 4th reverse split, won't it?
Time to prime the old pump.
IMVHO, of course.
Oh well, I am currently watching for a bottom on NOK, I think it will close that gap at $3.44. Keep an eye on it-it's a much more valuable company than the current price. And, FWIW, I am not compensated in any way by NOK! LOL. Enjoy your evening.
I think penny stocks fill some kind of void for people, unfortunately, it isn't their empty wallets.
And now, the latest, we are rescuing a "distressed Virgin" or is the "distressed Virgin" rescuing those whose average cost is .05 and higher. Stay tuned......insanity's playground.