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and keep authorized shares at 15 billion? Ouch ouch
Can almsot count on pagnano to do a reverse split and then keep diluting to close to 15 billion shares outstanding.....massive dilution is VERY likely.
Beware of restricted shares
Even though the restriction is a max of 6 months, I think the Board 9Pagnano) would have to register shares of common with the SEC to allow you to convert back to common in 6 months. Do you really think they will actually EVER do that? Thus, the one year claim on restricted share holding by Pagnano's email.
Beware.
Looks like more dilution
Bid still $0.00
all trades went for much less than $0.0001
Time & Sales
Price Size Exch Time
0.00 4000000 OTO 11:12:23
0.00 9000000 OTO 11:12:23
0.00 9000000 OTO 11:12:23
0.00 9000000 OTO 11:12:23
0.00 9000000 OTO 11:12:23
back to no bid again?
Looks like they need to start putting out more fluff press releases to try to get someone dumb enough to buy shares of WEHI at these high prices ($0.0001). Preferably someone that doesn't know that the share count is around 10 billion shares and the stock price needs to fall 98% or more.
PICK4U - DID YOU CONTACT THE SEC, YET?
Did you forward the emails to the SEC, yet? They have a tipline at SEC.GOV
If you are not lying about the emails directly from the CEO of WEHI, giving you insider information (material non-public information), then one should consider making sure regulators are aware of what Pagnano may be doing again.....feeding certain shareholders what appears to be insider info, in hopes that they will spread this info on message boards and generate buying volume at these stratospherically-high share prices ($0.0001).
If you are posting false emails from the CEO, then you may be at risk yourself.
Anyone concerned about the way it appears that insider pump/dump info may be being "spread" should make sure regulators are aware of it, IMO.
Doesn't matter PICS4U2C
WEHI's stock price still needs to drop around 98%, even if they get someone to air their rerun 2005 Golf Show.
Given Pagnano's success at destroying shareholder value, my guess is the preferred share deal is to help create room for dumping tens of billions more shares (after a 1:1000 reverse split of the common stock).
Remember, he has to generate tons more cash from someone to pay for production of the other shows he says are in process.
learning - WEHI probably has to share 50% of any revenue (or more) with the marketer that has been trying to get this POS aired on any channel. Commercials won't have much demand because it is a 2005-filmed re-run that apparently hasn't even paid past prize winners.
the Florida attorney general's office required that WEHI put prize money in escrow before events are advertised. Looks like Pagnano has thumbed his nose at the Frorida AG's office, too.
To bad Florida doesn't have much backbone when it comes to enforcing their own false advertising settlements with so-called comapnies like this.
Don't tell me you got suckered into buying WEHI at $0.0001 or more. Oh my gosh. See what happens when you don't look at past PR's and financials to see if ANY of what they spew is really happening or even possible?
I can't disclose that info at this time. What attack? Just posting info and opinions. Given the history of Mr. Pagnano, there is likely quite a bit of info and opinions critical to his business and disclosure practices to comment on. Stay tuned.
Why would the Golf Channel associate with WEHI, a company that seems to try to avoid paying prize winners, while trying to raise cash to stay afloat a little longer through dumping of billions and billions of dilutive shares at steep discounts.
They even raised the authorized share limit 50% to 15 billion shares.....massive dilution on its way.
Anyone buying shares at $0.0001 is paying 95% to 99% too much. Just look at all the shares that went for $0.00 (less than $0.0001)! Guess who will be selling those shares to gullible people that are dumb enough to buy them for $0.0001? Ouch.
Does the Golf channel know about all WEHI's liens and the fact they don't pay prize winners?
Maybe a list of the liens from prize winners and others would help the channel avoid embarrassment! I wonder how much they will have to pay to get it aired? LOL
A 2005-filmed re-run?
PAX cancelled MDSO airing for non-payment of contractually-agreed-to moneys. Pags just didn't pay them, but had to pay them a big part of the money later to avoid getting taken to the cleaners in court IMO.....yet the show still didn't air! Money down the drain, like usual.
Sue the clown? Are you kidding?
What assets are there to recover? WEHI has so many liens against it already that you'd be at the back of the line. I'm not sure if they ever paid the court judgment won by one of their past prize winners.
Looks like common stock holders will also face a 1:1000 reverse split, too. Wanna bet Pagnano keeps the authorized shares at 15 billion so he can keep diluting the company into the ground while not publicizing that there are a bunch of preferred shares out there?
Did longs know about the other Florida WEHI company's shares he merged into the Delaware WEHI recently? Disclosure certainly isn't one of WEHI's strong points. Neither is a viable business model. The only thing it is good at is repeatedly destroying all shareholder value.
WEHI among the P.O.S. Stocks (STINK) - nominated
http://investorshub.advfn.com/boards/board.aspx?board_id=9894
WEHI probably has to pay to have anything aired.
Sure wouldn't count on them paying their obligations anytime soon. I wonder if thoe many liens in florida will go federal and they will just sieze WEHI to preserve any remaining assets for the judgment lienholders, prize winners that WEHI does not pay, and creditors?
AJAB - this is what my research found. Looks like a possibility. Those doing DD may want to try contacting them to see if they can confirm. can't Find a January schedule for them, yet.
Versus (TV channel)
From Wikipedia, the free encyclopedia
Launched July 1, 1995
Owned by Comcast
Website versus.com
Availability
Satellite
DirecTV Channel 603 (SD/HD)
Channel 1603 (VOD)
Dish Network Channel 151
Channel 9468 (HDTV)
Cable
Available on many cable systems Check local listings for channels
Versus is a cable television sports channel owned by Comcast and shown in the United States. It was previously known as OLN until a name change on September 25, 2006. Formerly, OLN stood for Outdoor Life Network, and the name was licensed from Outdoor Life magazine. Under that name, the channel was launched in July 1995 and at the time focused almost exclusively on fishing, hunting, and other related outdoor sports. In June 2008, Comcast's Versus sports cable network moved its operations from Stamford, Connecticut to Comcast's headquarters base in Philadelphia, Pennsylvania.[1] The OLN brand was retained in Canada, and that channel continues to air some Versus programming but continues to concentrate on outdoor sports and lifestyle programs to meet their CRTC licensing requirements
AJAB - Re: SEC Enforcement division
Did you at least get a form letter response back from the SEC?
If we get a new chairman, maybe one could try contacting them again. The current SEC seems to not be doing very much to protect investors.
Just look at the most recent SEC approval of triple short/long fund/hedge authorization. This may put the naked short claims and uptick rule to shame, in regards for the ability of a group of funds to manipulate the market late in the day.
Reptile - should the network know about WEHI?
Shouldn't they know about all the liens against the company?
Shouldn't they know WEHI doesn't pay prize money owed, even while trying to get cash for massively dilutive discounted shares to stay afloat a little longer?
IMO, a network simply can't associate with a co. that doesn't pay prize money owed for events and actually tries to avoid payment? The guilt by association would be huge.
If a big game show or reality show did this, the Federal Trade Commission and possibly government oversight committee would be all over them, IMO.
Pagnano already disclosed he may face action from regulators or shareholders in one of his SEC filings before the company got delisted to the pink sheets.
I think he is just taking his chances that they know there is little or nothing to recover. Heck, he doesn't pay lien judgments, a court judgment, or what he owes prize winners....
Some call what these penny stock CEOS sometimes do fraud. Some call it actually stealing. The SEC seems to let them do what they want.
Mike P is known for misleading stuff, all while there is massive dilution (shares for cash going on) to help the company stay afloat, pay the condo rent, and pay his car allowance a little longer....IMO of course.
Just look at all the past press releases and see how little has EVER happened.
Look at all those revenue projections.....did they have even 1% of the revenue he projected? LOL
You DD is impressive. If you are right, and he is doing this to help dump billion more shares for cash, it could be fraud, IMO.
His past history makes me think he is absolutely lying.
The SEC has a tipline. If people are concerned about misleading and pump and dump scams with penny stocks, they need to contact the tipline, IMO.
This is especially true when the stock is under heavy distribution (dilution), which a certain company is known for.
Re: email from Golf Channel
Pagnano won't list the cable network because he knows people will contact them to let them know about the numerous liens against WEHI, the fact that they don't pay prize winners what they are owed, and the fact that the old MDSO was filmed in 2005 and the winning team still has not been paid.
They will still have 15 billion shares authorized.
It didn't take them long to issue 7 to almost 10 billion dilutive shares after the share structure re-organization in 2007 and already again in 2008.
There were 25 million shares outstanding at the 2008 reverse split......almost 10 billion issued in the months after that.
This will be the same game plan WEHI will do once again. They can hide the "preferred" share count from gullible investors that don't know about the WEHI business plan of massive dilution to stay afloat, because they (WEHI) don't file audited financials after being uncerimoniously delisted from the OTCBB to the stinky pinkies.
^ month rrestriction on sale of preferred shares. By then the stock price will be down another 95% and they will have done a big reverse split so they can dilute the common into the ground again.
Note that even though preferred shares have a 6 month restriction on selling, the COMPANY has to register the shares before they can be converted back to common and sold, I believe. There is no guarantee they will ever do that, IMO. Either way, I'm guessing all shareholders will lose if they trust Pagnano again.
They won't publicize that there are so many preferred. They will then be able to massively dilute and pump/dump the common shares like they do so often. Both preferred and common holders will suffer. Same ol'e Pagnano, IMO.
Just how much trouble is WEHI in?
Did you see all those judgment liens against the company? Oh my! I wonder if they will become federal liens next?
SPICE - WEHI's market cap needs to drop 95%-98% more
It will run much lower. No reason to go higher.
Most shares are going for well under $0.00005 right now.
Pagnano not known for realistic projections
He even warned, in a SEC filing, that shareholders and regulators could take action against the company for some of those projections.
The only thing WEHI has been doing is NOT telling shareholders about the massive dilution going on. It looks like he may be concerned almost no one is buying his stock promotion press releases anymore. He has destroyed basically all shareholder value repeatedly and appears to be on his way to doing it once again.
There is a reason pinksheets and the SEC warn investors about penny stocks with disclosutre practices like WEHI.
That's still better than after the massive dilution coming...another 5 billion shares authorized. Share authorization now up 50% to 15 billion shares.
If people do the share conversion, that just leaves Pagnano with more room to dilute the common before they hit the 15 billion share limit.
You may get 1/10th of $0.0001
That looks like where most of the trades marked $0.00 are going through. Only one trade at $0.0001 so far today...the rest are for a print of $0.00, which appears to be for less than $0.00005.
danielll - beware of forked toungue
Did you ask him if the board of directors (Mikie) has to authorize and register the preferred shares before they can EVER be converted back to common shares? Don't count on them registering them, thus they still may not be able to be converted and/or traded.
redfish - it has to do a reverse split before it can go any lower or trade much of any volume. don't worry....it will go much lower.
Remember that Pagnano just recently disclosed that there was a Florida company by the same name and he merged it with the company you may have owned.
Pretty hard to trust Pagnano about much of anything with all the tall tales that have been spewed, along with the revenue projections that even Mike P warned could cause action by shareholders and regulators.
Many don't accept market orders for penny stocks like this one anymore.
They do trade to 5 decimal places. Most trading platforms and financial sites don't display to 5 decimal places, though.
This is similar to options trading. Most only let you trade to 5 cent increments per contract, but you always seem to see the actual trades to 1 cent increments. They are basically stealing whatever they can from your option trade in the form of pannies, but it all adds up.
Only the Transfer agent knows for sure. LOL
It will only get worse. Any of you have a cost to get the certificates sent to actually participate in the preferred stock conversion? Will that be more than your entire position in WEHI is worth?
Think about it.
G - i was told that whenever a print goes through on a peny stock trade for $0.00, the price is less than $0.00005 (five decimal point trading). They round it down to the nearest point. If the price is above $0.00005, it get rounded up to $0.0001.
ALL SHARES DUMPED TODAY - BELOW $0.00050?
3 TRADES, TOTAL....lol
Time & Sales
Price Size Exch Time
0.00 250000 OTO 12:01:04
0.00 1250000 OTO 09:52:35
0.00 5000000 OTO 09:52:35
IN BANKRUPCY
Preferred shareholders would be ahead of common shareholders for any asset distributions.
LOL - lienholders and other obligations far outweigh any assets the co. has, so even preferred holders would get nothing.
How much does it cost for the certs to be delivered? More than your shares are actually worth at slightly higher than $0.00000?
soup - does it matter? Preferred shares are still shares and this just allows the potetial reduction of the common shares. Problem? Yes, because it still leaves WEHI with 15 billion authorized common shares. So much dilution possible, while preferred shareholders cannot sell for 6 months. They will be stuck even worse.
In 6 months the comman shares can balloon to 10-15 billion shares once again.
We all know the history of Pagnano - he is an expert in destroying shareholder value repeatedly and is a terrible CEO, based on all available evidence.
One can assume he will continue to destroy all shareholder value once again.