Worthington Energy, Inc. (fka WGASQ)

[xZx]

welcome to the board. here's a little basic DD. read the filing about the proxy vote:

http://www.sec.gov/Archives/edgar/data/1342643/000109690612002351/worthingtondef14a20120912.htm

see the section where it lists the "potential" fully diluted number of shares? it's over 500M already.

so it's a legal requirement that the a/s be raised. it's all about existing debt, not future dilution.

as for the reverse split, i voted for it, and i hope it passes. draining the swamp is the best way to get flippers out of this thing. those who love subpenny plays almost never touch one trading at a dime.

oh, and here's another little tidbit for you:

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=79191327

this is why there won't be any future dilution, and why the stock is rallying now. we're about to get $26M in loans funded, $14.5M of that in non-equity based financing. jmho.

i hope you feel like chasing.