Worthington Energy, Inc. (fka WGASQ)

[Dina]

Thats not the answer to my question.
Again, why did he let shareholder vote
if the reverse split is part of the loans?
He would risk to lose the loans, so probably
he made only the reverse split to get better
financing deals with Asher&Co!

Maybe company need better financing agreements
and they could not wait longer, pps was 0.0050,
higher pps, low market cap, lower share structure
---> better financing deals with Asher!

But i can answer your question, he cant
make a higher reverse split, because
then there would be no liquidity, no market,
that was the highest possible reverse split.
And who would buy shares if a company
makes a 1 for 500 reverse split? They would be done!
There would be no chance for a market.
Debt holders are not blind.
They get shares and they want to sell them.

Or should the bid .01 and the ask $15 with
a higher reverse split? It´s important
to have a market, so he made the highest possible
reverse split.
But please answer my question above.
That was your theory and i would like to hear your answer.
It seems for me the reverse split had absolutely
nothing to do with the loans and was important
for new financing agreements.
If pps is .0050 its not possible to get good deals with
Asher and other debt holders.