Limited time this morning so I will respond to all your inquiries at once.
I notice that the facts I posted are totally ignored. These are, 3 reverse splits to date, no revenue, massive dilution and a 99% drop in price. So, now to address the speculation.
In an area so prone to hurricanes, a company with "massive" holdings should have had some sort of cushion, including cash reserves, adequate lines of credit to sustain them for 1 year (yes, "massive" holdings or assets can actually be used to get adequate lines of credit) or, even insurance coverage. The fact that they had none of these leads one to question Virgin's basic business acumen and the prudence of the guy who is speculated to be the future leader of WGAS.
Court proceedings are a fact of life in penny stock land. Most never add share holder value. They do keep the story going and hopes high for just a bit longer though, eh? After all, when the company's only business is selling discounted shares to the toxic guys, it is important to keep the story going as long as possible.
Any company that goes to the toxic well over and over without producing a product or revenue will see the price of it's stock spiral downward just as WGAS stock has. When the company has no value, the market figures it out eventually. Add to that, 10s of millions of discounted shares hitting the market each and every month and the travesty that you see here is the result. This decrease in price is all about the lack of performance and poor decisions by the company and it's management. Non performance = 99% drop in stock price and eventually no-bid.
ALL IMO of course. Enjoy the long weekend.
