Worthington Energy, Inc. (fka WGASQ)

[sloan14]

I was wrong on all the Asher financing. They roughly have $162k in financing to WGAS. At a converted price of 50% over the last 10 days would be roughly 40m shares (still doesn't max the A/S). The fist payment was do on Sept 1. Also Asher can only convert a certain % of shares at a time.

Asher agreed to restrict its ability to convert the Asher Debentures and receive shares of common stock such that the number of shares of common stock held by Asher in the aggregate and its affiliates after such conversion or exercise does not exceed 4.99% of the then issued and outstanding shares of our common stock.

At 274m x 5% = that is 13.7m shares can be converted at this time.

Lots of smoking mirrors right now.