Replies to post #42737 on Worthington Energy, Inc. (fka WGASQ)

[Atlanta1]

Absolutely true.

He can issue shares to himself on the flimsiest of pretenses.

Shareholders should not be fooled - the "I am a shareholder too" statements by managements are quite disingenuous. They have ways to protect their own interests against massive dilution and reverse splits that are unavailable to the rest of the common shareholders.

[AUDACIOUSWON]

Show me in a filing where that's true...that's not how it works. Nice try though.

[Belgianshareholder]

Must be why they have been taking shares in stead of cash in the past, eh.

On August 22, 2012, the Company issued 50,000 shares of common stock to an employee as bonus compensation for services rendered. For accounting purposes, this issuance has been recorded at $3,800, or $0.076 per share, the closing price of the common stock on the date the issuance was made.

Issuance of Common Stock to Officers and Directors

On June 6, 2012, the Board of Directors authorized the issuance of common stock to certain officers and directors in satisfaction for monies owed to them. Pursuant to this authorization, the Company issued 388,889 shares of common stock to four individuals. The stock was valued at $17,500, or $0.045 per share, the amounts stated in the Board resolution.

Issuance of Common Stock to Officers

Effective June 3, 2011, the Board of Directors approved the issuance of 1,575,000 shares of common stock to two of the executive officers of the Company as additional bonus compensation for their accomplishments since the change of control of the Company on March 17, 2010. For accounting purposes, this issuance has been recorded at $2,992,500, or $1.90 per share, the closing price of the common stock on the date the issuance was authorized.