Worthington Energy, Inc. (fka WGASQ)

[cjstocksup]

Excellent example of how these work. I have been through many since the mid to late 80's. If and only if they do get enough shareholder approval for both, the RS and AS vote is at the same time. The RS would put us with a WGAS float, OS and AS at 10 times less than the current one at the time but the 1 billion shares would be 100 million shares. That would be very low for any penny stock. I have owned and traded many penny stocks well over a dollar with SS's much much larger.

I want you to read the following as an example...it concerns ETrade's similar maneuver in 2010:

When will E*TRADE's reverse stock split become effective and what is the ratio for the reverse stock split?

The 1-for-10 reverse stock split is scheduled to become effective on Wednesday June 2, 2010.

What will be the impact of E*TRADE's reverse stock split on its outstanding stock?

The 1-for-10 reverse stock split will reduce the total number of E*TRADE's issued and outstanding shares of Common Stock, as well as its authorized shares. As a result of the reduction in the number of shares of Common Stock, the price per share should increase proportionately upon the completion of the reverse stock split. This means that, if you are a E*TRADE stockholder on the effective date of the reverse stock split, as a result of the reverse stock split, you will have fewer shares of E*TRADE Common Stock, but each share should have a higher trading price. Therefore, the value of your total economic investment (including any cash payment to be received in lieu of a fractional share) should remain unchanged.

The reverse stock split will not affect any stockholder's percentage ownership interest in E*TRADE, except to the extent that the reverse stock split results in any of our stockholders owning fractional shares, as discussed further below. Proportionate voting rights and other rights and preferences of E*TRADE stockholders will not be affected by the reverse stock split, except as a result of the payment of cash in lieu of fractional shares.



Notice the stated impact on both A/S and O/S.