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Stem must have found out
about all the lien judgments and 11% interest on those judgments against WEHI.
There may be nothing left of WEHI by the time they reverse split and restrict shareholders from selling.
That site isn't new. The domain was registered in February of 2006, and expires in early 2009.
Read the fine print. Won't there have to be a registration statement before the preferred shares can ever be converted to common. Guess who gets to decide if there ever will be such a registration? ...the board. The same board that is about to destroy all remaining value in WEHI, IMO. Guess who is the only board member? LOL
Why do you ask? Does it really matter.
So you are getting taken to the cleaners by Mike, too?
Guess what will heppen to the share price while they (preferred shares) are restricted? Any you won't be able to sell them no matter how many billions more common shares are dumped into the share pool. Ouch. a 20% discount? A 99.9% discount won't help you now.
soupofthe day - WEHI basically worthless now
Probably already heading to 15 billion outstanding shares. Looks like massive share dumps will be coming soon.
I doubt any US network will associate with a company that doesn't pay prize money owed or its other obligations.
Lien interst rates 7% to 11% on those liens against Mike Pagnano's company.
WEHI is known for not paying its obligations. Florida even had a false advertising case against the company.
Some of the Florida liens against Pagnano's company - collection trying to go after the company. will these be federal liens, next?
Judgment Lien Name List
Filing Number Debtor Name Address
J04000018226 THE WORLD GOLF LEAGUE, INC. 258 E. ALTAMONTE DRIVE
J04000040774 WORLD GOLF LEAGUE, INC. 285 E. ALTAMONTE DRIVE
J05000101409 THE WORLD GOLF LEAGUE, INC. 2139 WEST STATE ROAD 434
J07900007260 THE WORLD GOLF LEAGUE, INC. 2139 WEST SR 434, SUITE 101
J08900000257 THE WORLD GOLF LEAGUE, INC. C/O NRAI SERVICES, INC., ITS RA
J08900012458 THE WORLD GOLF LEAGUE, INC. 963 HELMSLEY COURT, SUITE 107
Shares being dumped at $0.0
which is actually less than $0.00005
Looks like the dump is on. Why wait until the shares become worthless and restricted, too?
Time & Sales
Price Size Exch Time
0.00 9000000 OTO 12:36:39
0.00 4000000 OTO 12:36:39
0.00 9000000 OTO 12:36:39
0.00 9000000 OTO 12:36:39
0.00 2070000 OTO 12:36:39
0.00 9000000 OTO 12:36:39
0.00 1740000 OTO 12:36:39
GONNA BE WORTHLESS SHARES SOON
Someone is probably trying to sell at any price.
I PREFER NOT TO DISCLOSE MOTIVES. DON'T TELL ME YOU GOT MIXED UP WITH PAGNANO. SORRY FOR YOUR LUCK. APPARENTLY YOU DIDN'T LEARN ABOUT HIM EARLY ENOUGH. HE'S BEEN DOING THIS KIND OF THING TO HIS LOYAL SHAREHOLDERS FOR YEARS.
Pagnano - destroyer of shareholder value....multiple times.
Can you blame anyone for avoiding this diluted POS like the plague?....and now it will get even worse.
Will he ever pay all those liens against the company?
Will they just sieze WEHI, along with any preferred shares?
State of Florida may act soon.
You don't have a choice. Your shares will be basically worthless in either case.
Pagnano strikes again. Can't sue WEHI becuase they don't evewn pay their obligations and there is almost no assets worth going after.
Company appears to be flat broke once again.
Not even one buyer of WEHI - beware
Pagnano will do yet another reverse split and all current shareholder won't be able to sell for even 1/100th of the current share price (less than $0.00005).
So even the CEO thinks WEHI is overvalued? True value is much less than the less than $0.0005 the shares are being dumped at now?
Needs another 98% drop in the share price. By the time the restrictions are lifted, you won't even be able to sell them at any price.
............
"It is in our Board's opinion that the Company's current share price is not representative of the true value of the Company. This exchange will help reduce our float and put WGL Entertainment on the path of significant growth in the future. We feel that this exchange is in the best interests of the Company and its shareholders," stated Mike Pagnano, CEO of WGL Entertainment Holdings, Inc.
Elementary - not 100M shares - 10 billion, probably headed to 15 billion outstanding shares.
There were 25 million shares total outstanding after the last 1:200 reverse split in late Feb 2008. It has benn DILUTION DILUTION AND MORE DILUTION EVER SINCE.
WEHI still has those numerous judgment liens, court judgment, and still owes $1 million to the winning team of the MDSO. They werre supposed to pay that 30 days after the airing of the last episode....a long, long time ago.
It is apparent that the CEO of WEHI is not willing or able to pay the obligations the company has. In business that makes the company one most won't deal with, for fear WEHI's poor business reputation will infect the other company.
Kinda like when Pagnano claimed PAX network would be airing the show. Turns out that PAX cancelled the show because Pagnano's company failed to pay contractual amounts to have it aired. Surprised? Not me.
WEHI now has so many lien judgments against the company that they probably will just get all their assets siezed.
Does WEHI even have a connected telephone anymore? The bill collectors are probably knocking on his door all the time, now.
PICS4U - it is a 2005-filmed failure from WEHI you are talking about. It is almost 2009 already. MDSO is not a classic.
Besides, WEHI doesn't even pay its obligations.
What network wants to be associated with a company that does not pay prize money it owes and doesn't pay its obligations?
His PR's have been all about getting people to buy the almost worthless shares being dumped for a huge discount.
No, many pink sheet stocks provide disclosure and want pink sheets to display current information.
WEHI, on the other hand, has gone out of its way to avoid disclosure.....especially of the massive dilution. That is a very bad sign and should raise extreme suspicion.
Heres's the warning about WEHI
on the pinksheets dot com site.
Indicates companies that are not able or willing to provide disclosure to the public markets - either to a regulator, an exchange or Pink OTC Markets. Companies in this category do not make Current Information available via the OTC Disclosure and News Service, or if they do, the available information is older than six months. This category includes defunct companies that have ceased operations as well as 'dark' companies and/or companies with questionable management and market disclosure practices. Publicly traded companies that are not willing to provide information to investors should be treated with suspicion and their securities should be considered highly risky.
So reorganization means REVERSE SPLIT?
This will allow WEHI to drop 95% or more after a reverse split.
Having a hard time even getting a bid at $0.0001. The massive dilution has again destroyed all shareholder value. It look like Pagnano is about to do it once again.
With another 5 billion in dilution coming, per Pagnano recent increase of authorized shares by 50%; he probably already knows there will continue to be mostly no bid. Anyone ask Pags what the discount to the share price the private placement deal he did in a paper filing (not electronic, so no shareholder can look it up) with the SEC entails.
Is the discount 50% or more? WEHI's terrible financial condition may demand at least a 50% discount, and probably condition if he does another reverse split so the stock price can resume tanking again. I'm wonder if that is part of all those shares that sometimes go through at a print of $0.0000. Five decimal point trading means that price is likely less that $0.00005.
Is Pagnano still "feeding" info to his loyal shareholders, in hopes they spread the info on message boards?
Is that not unlike a fax spamming effort, which got some penny stock CEO's in trouble with the SEC in the past?
Maybe WEHI is already close to their 15 billion share limit already, and he will have to raise the authorized share limit to 50 billion shares.
Or maybe he will reverse split like earlier this year and in 2007, but leave the authorized share limit at 15 billion, so he can dilute the newest round of bagholders into the ground (like he has done in the past). He'd probably have to do a 1:1000 reverse split this time, so the share price can quickly go right back down to $0.0001.....also like he did in 2008 and 2007.
koko - there is no bashing going on. It is reality that investors have been consistantly losing because of WEHI's own doing. WEHI doesn't even update shareholders on their massive dilution. The private placement of toins of shares was done with a paper filing, with no explanation of details to shareholders. Doesn't that sound misleading?
Bury your head in the sand...yeah, that's the answer.
Didn't others ignore the past and get stuck with WEHI shares while the dilution was again increasing exponentially? Now you own shares that you can't even sell for $0.0001.
that's why it looks like a reverse split is already in the works, despite what Pagnano was claiming.
The convertible debenture language from one of them even had language in it requiring the company to make effort to ensure it is possible for finaceers to be able to sell shares after the financeer got a huge discount. That, to me, means they will have to reverse split eventually.
25 million shares? LOL
That was the entire oustanding share count right after the last 1:200 reverse split at the end of Feb 2008!
You do the math. Just how many times 25 million shares did the outstanding share count have to go up to reach the nearly 10 billion O/S level it appears to be at now (likely going to 15 billion shares)?
That's what most people say after buying into something like this (bought this as a pure lotto play)
Did you see how almost every investor that ever bought shares in this co. has lost almost their entire investment, some of them more than once?
Unpopular opinions always seem to be a nuisance, especially when companies or investors are hoping new suckers will buy their shares and a paranoid that opinions critical of a company will affect those suckers and make them think twice about buying shares in a company with a track record like WEHI has.
Don't you wish you had read the last 3 years of PR's and compared them to what actual resulted from the projections and fluff contained in them?
Don't you wish you had searched for all the liens against the company from prize winners WEHI refused to pay and also the court judgment in favor of of a prize winner WEHI refused to pay?
Don't you wished you researched the false advertising charge against the company from the Florida Attorney General and what was required of the company about paying the prize winners and the requirement that Pagnano agreed to about putting money in escrow before they advertised any events like the Million Dollar Shootout?
I'm posting because I can.
I happen to like to follow stocks that destroy shareholder value and keep trying to get even dumber people to buy at high share prices like this ($0.0001).
Did you notice WEHI is even refusing to provide current share structure info to pinksheets dot com? Their site, under WEHI company info, indicates they are trying to contact the company and even are asking others to give them info on how to contact the company.
Does WEHI even have a connected telephone anymore?
My comments have no affect
The CEO has obviously trashed the company for years by getting delisted and appearing to purposely avoid disclosure while he knew the stock was under heavy dilution and distribution. He also appeared to put out fluff press releases to get more suckers to buy, even though he knew there were tens of billion more shares to dilute.
The CEO even warned that regulators and shareholders could take action against the company.
Did you do enough DD to find this info out or did you get STUCK with WEHI shares at $0.0001 or higher? It looks like you are angry people keep remiding you of your mistakes.
Get over it.
ABDUL - no proceeds at all coming - beware
If you believe anything Pagnano has put out, you can only blame yourself. Look at his past PR's and projections.
....then look at the tens of billions of shares dumped on innocent shareholders by the same man, all while appearing to avoid disclosing the massive dilution going on.
stem probably just found out about all the unpaid obligations WEHI has and that they are in default, too.
Did STEM's lawyers find the lien judgments against WEHI in Florida?
Did their lwayers find the court judgment, the numerous lien judgments due to WEHI not paying its obligations, and that they owe $1,000,000 to the winning team from the MDSO?
Hopefully STEM's lawyers are doing their due dilligence before getting sold a bill of good from Pagnano, IMO.
learning - good analogy
Pagnano has a track record he sure can't be proud of.
Destroying shareholder value is not a good resume to have, but he excels at it so well, IMO.
So bad news coming next week?
How can it get any worse. Little or no revenue, terrible press releases, what seems like misleading info, hiding disclosure of share structure, almost no disclosure on other things.....
WEHI now owes $1 million to MDSO shootout winning team. It is in default on other obligations.
Apparently there are a large number of liens against the company, too. Will the courts allow siezure of all
WEHI assets to satisfy the liens?
Post #12670
Doesn't that sound like, if true, Pagnano may have been trying to do some fishy trading scheme with that guy's dad? Good thing his dad refused to get caught up in that kind of activity.
I'd think the SEC would be very interested in something like that, wouldn't you?
A CEO claiming he will tell an investor when to dump the shares sounds a bit like what Martha Stewart got convicted of.
All IMO, of course.
They have been trying to get the old re-run on a network for years. The MDSO was filmed in 2005. It is old, old, old.
Looks like Pagnano is bringing out the old fluff press releases again. Must have that 5 billion additional shares authorized to allow them to dump them for less than 1/2 the $0.0001 price.
Doesn't look good for longs.
WEHI's share price needs to drop 95% plus
close to 10 billion shares issued already this year since the last 1:200 reverse split (there wsas also a 1:100 reverse split in 2007). Now they increased the authorized shares to 10 billion so they can dilute another 50%.
but they won't be able to do so until they do their next reverse split. Will it be a 1:1000 reverse split this time?
Almost no one dumb enough to buy at these high prices.
tree - the SEC might be interested in Pagnano's action you described, IMO.
Thanks juddd - pinksheets dot com has been trying to contact WEHI, with no success. They (WEHI) apparently don't want to put out current information for investors, so I doubt WEHI will give any updates to anyone, IMO.
They obviously havre not been updating investors on the massive dilution, but anyone concerend or doing DD can contact their transfer agent.
WEHI's phone has been disconnected.
Isn't that a bad sign?
neptune - beware of Pagnano's projections
He has endured the new revenue he says they have? He does not have that revenue at all. This is actually just what he projects. He has been wrong on basically all his past revenue projections, only getting a tiny fraction or no revenue results from those projections.
Look at the past PR's to see how most revnue has to be shared with others including the co helping them get any airings.
Did you ask him why WEHI has all those liens against it and court judgment and owes so much money?
Did you notice that they have diluted the stock pool as fast as gullible investors would buy the shares at a huge discount.
Did you notice he seemed to back away from the share repurchase language, putting a big question mark there instead? "attempted to buy" is not actual buying.
Did you wonder how they could buy shares from anyone at $0.0001 if they refuse to sell at that price?