Replies to post #3237 on Worthington Energy, Inc. (fka WGASQ)

[GreyGoose_69]

We've already gone through the toxins. Now we are all cleaned up and ready to go to the Prom! And Tony Mason is the King!

[bones33333]

Can you pls explain?

[GreyGoose_69]

First, I ask that you tell us all why Asher is so bad, and could you give us a representative account of how many companies have done good with them verses bad.

Next, How much did WGAS finance through Asher? Well, let me tell you:

(Note to self: Asher cannot sell any shares until September 1st, 2012)

http://www.sec.gov/Archives/edgar/data/1342643/000109690612001060/wgas8k20120302.htm

Asher Financing

On March 5, 2012, the Company entered into a Securities Purchase Agreement with Asher Enterprises, Inc., an accredited investor (“Asher”), providing for the sale by the Company to Asher of an 8% convertible debenture in the principal amount of $30,000 (the “Asher Debenture”).

The Asher Debenture matures on December 7, 2012 (the “Maturity Date”) and bears interest at the annual rate of 8%. The Company is not required to make any payments until the Maturity Date.

Asher is permitted to convert, starting on September 1, 2012, the outstanding principal and accrued interest on the Asher Debenture into shares of Common Stock at a conversion price per share equal to fifty percent (50%) of the average of the three (3) lowest closing bid prices of the Common Stock during the 10 trading days immediately preceding the conversion date.

Asher agreed to restrict its ability to convert the Asher Debenture and receive shares of the Company’s Common Stock such that the number of shares of Common Stock held by Asher in the aggregate and its affiliates after such conversion or exercise does not exceed 4.99% of the then issued and outstanding shares of the Company’s Common Stock.
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Ok, now let's ask some more questions. We are only talking $30,000 here. At 25 barrels per day, with Oil at $90, WGAS can come up with $810,000 in 1 years time. Thus, with interest and everything, I think WGAS is ok, and this deal with Asher will not make or break us!

So, let's focus on what xzx said, and that's market cap, and the oil that will be flowing from the earth! That takes care of any financing concerns anyone may have with WGAS in the near future. The end.