Worthington Energy, Inc. (fka WGASQ)

[Atlanta1]

floyd's - it's a wash. the debt holders get a set dollar amount.

before the r/s, there was the potential for over 900 million conversion shares.

after the r/s, it's 90 million.

the fervent hope is that I-1 cash flow and/or take-out refinancing will mitigate the need for additional conversion.