Worthington Energy, Inc. (fka WGASQ)

[xZx]

the reason capital changes have a bad reputation in pennyland is most companies use them as a way to wipe out shareholders and continue diluting. that's why it's not uncommon to see 1:1000 splits, or even higher ratios.

that's not what's being proposed here. first of all, it's up for a vote. most penny CEOs would just do the split, without asking anyone.

furthermore, i have the feeling this paragraph in the last Q gives us our best indication of why the split is on the table:

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

two equity investors are listed here. if i wanted to take a stake in this company, i'd do it on two conditions:

1. that all convertible debt be paid off first.

and

2. that a split bring the share price back to a reasonable level, where the float would be purged of sub-penny flippers.

that seems to be exactly what mason's plan is. jmho.