Worthington Energy, Inc. (fka WGASQ)

[xZx]

you're welcome. what the bears aren't talking about today is why the A/S is probably being increased. imo it needs to happen to accommodate "potential" dilution from existing convertible debt.

maybe that needs to be repeated for some: EXISTING debt. not new dilution from more toxic financing.

HOWEVER, if WGAS gets the 8.5M pre-approved loan, they can pay off ALL the convertible debt, and the increase in the A/S will never need to be used.

note where it says "refinancing" in the latest 10Q:

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=78734114

looks like mason is doing exactly what needs to be done to erase all the convertible debt and shift it to primarily non-equity financing.

this is jmho, but i believe it makes absolute sense.