Replies to post #863 on Wentworth Energy, Inc. (WNWG)

[IslandTrader]

YA Global didn't purchase shares on the open market. They hold convertable bonds and they are simply excercising their right to convert from a bond holder to a stock holder. I've attached the info from the latest quarterly report. You can see that it is conversions. So this is a balance sheet transaction. Wnwg owes YA Global and they can either collect on the loan or convert their position to become a stockholder and erase that portion of the debt. I think it's a good sign that they feel the stock is going up in price and would rather be a stockholder as opposed to being paid back. This is why the shares outstanding are rising and the debt is shrinking every time they convert. Here are the details:

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds




The following table describes all securities we issued during the period covered by this report without registering the securities under the Securities Act.




Date
Description
Number
Purchaser
Proceeds

($)
Consideration
Exemption

(A)

January 8, 2010
Common stock
4,264,706
YA Global Investments, L.P. (f/k/a Cornell Capital, L.P.)
Nil
Issuance of common stock upon conversion of $5,800 of convertible debentures
Sec. 4(2)

January 12, 2010
Common stock
4,454,545
YA Global Investments, L.P. (f/k/a Cornell Capital, L.P.)
Nil
Issuance of common stock upon conversion of $4,900 of convertible debentures
Sec. 4(2)

January 21, 2010
Common stock
4,636,364
YA Global Investments, L.P. (f/k/a Cornell Capital, L.P.)
Nil
Issuance of common stock upon conversion of $5,100 of convertible debentures
Sec. 4(2)

January 22, 2010
Common stock
4,909,091
YA Global Investments, L.P. (f/k/a Cornell Capital, L.P.)
Nil
Issuance of common stock upon conversion of $5,400 of convertible debentures
Sec. 4(2)

January 26, 2010
Common stock
5,144,545
YA Global Investments, L.P. (f/k/a Cornell Capital, L.P.)
Nil
Issuance of common stock upon conversion of $5,659 of convertible debentures
Sec. 4(2)

January 27, 2010
Common stock
5,363,636
YA Global Investments, L.P. (f/k/a Cornell Capital, L.P.)
Nil
Issuance of common stock upon conversion of $5,900 of convertible debentures
Sec. 4(2)

February 3, 2010
Common stock
5,666,667
YA Global Investments, L.P. (f/k/a Cornell Capital, L.P.)
Nil
Issuance of common stock upon conversion of $8,500 of convertible debentures
Sec. 4(2)

February 25, 2010
Common stock
5,941,176
YA Global Investments, L.P. (f/k/a Cornell Capital, L.P.)
Nil
Issuance of common stock upon conversion of $10,100 of convertible debentures
Sec. 4(2)

March 8, 2010
Common stock
6,258,824
YA Global Investments, L.P. (f/k/a Cornell Capital, L.P.)
Nil
Issuance of common stock upon conversion of $13,300 of convertible debentures
Sec. 4(2)