Replies to post #48162 on Worthington Energy, Inc. (fka WGASQ)

[QServus]

Let's play this reasonably:

If you were owed about $3,400,000 as of April 10th, 2013, and you saw your only means of 'repayment' tank -50% in one day, nearing dangerously the feared 'tripz' would you then be relaxed as if nothing happened? Wouldn't you be concerned a tiny bit if at all you would be able to convert anything at all???

Their statements:

Are grossly misleading. You cannot convert even 1/2 of the money at $0.0027 per share even if you could grow another nut or win lottery 10 times in a row. Simply won't happen. True Market right now is about $0.002 per share, and their conversion would have to be BELOW $0.0027 or else they wouldn't make money? Right?

I wouldn't be surprised if the debt holders massacre this stock to $0.0001 - at all

"As of April 10, 2013, we had 207,537,435 shares of common stock issued and outstanding and $894,524 of principal amount of convertible debentures outstanding that are convertible into shares of common stock at a discount to the current market price at the time of conversion. At April 10, 2013, these debentures were convertible into approximately 558 million shares of common stock. In addition, the number of shares of common stock issuable upon conversion of the outstanding convertible debentures will increase if the market price of our stock declines.

Furthermore, as of April 10, 2013, we have $2,502,889 of principal face amount of convertible debentures that are convertible into common stock at a fixed conversion price, which is subject to adjustment in the event that we issue stock for a price per share below the then current conversion price. Those debentures are currently convertible into shares of common stock at a price per share of $0.0027, or approximately 927 million shares if fully converted, not including accrued interest. In addition, we have warrants and options outstanding that are exercisable into approximately 14 million shares."