Worthington Energy, Inc. (fka WGASQ)

[Atlanta1]

actually, many companies do reverse splits for very bad reasons.

in the pinkie world, super-diluters will reverse split their stock and leave the a/s the same, thereby creating new, fresh room to continue the dilution machine.

in this case, not only is WGAS proposing to r/s the stock, but actually DOUBLE the a/s - a double whammy.

There has been all kinds of rosy spin here, furiously painting lipstick on the pig. Maybe WGAS is the rarest of pinkies, and is doing this for all the right reasons. I certainly hope so, because I have a major position, but for the moment I am seriously pissed and I think the timing on this absolutely sucked.

I hope to God that Tony has the intention to issue a statement explaining the intricacies of this maneuver so all the amateur speculation can be put to rest.