what if the proposed a/s increase is to accommodate the potentialdilution from convertible debt (listed in the latest Q) that will soon be paid off (again, see the 10-Q)... what if this is just a legal formality... a requirement of debt already taken on, and soon to be erased?
if your theory is correct, 45M shares were bought yesterday by mistake, and i highly doubt that. ;-)
and i'd like to add something to your statement here:
"Current outstanding 270 million is not really high nbr for reverse split."
...in a typical penny stock.
270M shares is not a high number for the usual penny r/s, and this isn't a typical penny stock.
most penny plays have no assets. we've got millions of dollars in assets on the balance sheet now, and may soon double it.
most penny plays have a 1:100 r/s or higher, even 1:200 or more. most r/s are designed to wipe out the current shareholders and continue slaughtering the next ones.
most of those plays don't have any insider ownership. why, if management is wanting shares, would they turn around and do anything to decrease the value of those holdings?
these are a few reasons why i disagree with your perceived outcome.
and since the chart is quite tangible, i think i should reiterate -- you could only be right if 45M shares were bought yesterday by mistake.
think about this. nothing "typical" is happening here, even in the context of WGAS. what a week!
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