Replies to post #63031 on Worthington Energy, Inc. (fka WGASQ)

[Atlanta1]

1)

I still don't think the DH will let it go straight to hell

The DH's don't care where the stock price is. They are, for the most part, guaranteed a profit. Their biggest concern is enough liquidity to unload their shares. They are not stock investors - they are lenders. If it takes getting this pig down to trips before there is enough speculative buying interest for them to unload their shares, that's exactly where the price will go. The DH gets liquid, the MM's cash in, and the public gets screwed.

also, keep in mind that the DH's are competing for that liquidity with Toxic Charlie himself. Not only does he need cash to pay Toxic Charlie Addams, but he needs to pay Part-Time Pinkman ($8333/mo), Surety ($10,000/mo), the lawyers, the accounts, the light bill, the new VM vendor, etc......


2)

Say you were Volk. Other than swapping equity for assets, what other choices do you have.

"what other choices" is exactly right. That's why, contrary to claims being made, Toxic Charlie Volk and his votes probably aren't going anywhere. He's not leaving his ATM.

[mdimport]

The facts show WGAS is a POFS. 1T+ shares sold in four years, not one drop of oil extracted and $0 revenues on the books.

If there was a will to build a oil company and not a share selling scheme it could be done. All four points are very achievable.

Specifically concerning #3, Mr. Volk could simply vote his shares in favor of whatever the majority consesus was on a share structure freeze, or just as easily announce that he's not going to vote at all. If Broadridge conducts the votes, it'd be very easy to see if Mr. Volk kept his word.

History of reverse splits under Toxic Charlie's reign:

Capital Change=shs decreased by 1 for 3 split Pay date=07/15/2010.
Capital Change=shs decreased by 1 for 2.4068 split Pay date=08/06/2010.
Capital Change=shs decreased by 1 for 10 split Ex-date=11/02/2012.
Capital Change=shs decreased by 1 for 50 split. Ex-date=10/02/2013.