Wescorp Energy Inc WSCEE

BIG NEWS

[bart.bark]

Wescorp Energy Provides Status Update

 

Wescorp Energy Provides Status Update

CALGARY, Dec. 22, 2011 /CNW/ - Wescorp Energy Inc. (Wescorp) (OTCBB: WSCE), a clean water technology company focused on implementing cost-effective solutions in several markets, including the oil and gas and marine industries, announces a status update. Throughout August and September, Wescorp engaged in discussions with two groups regarding the possibility of financing for continued operations.

In October, a Schedule 13D was filed by a group of shareholders, some of whom were part of one of the potential funding groups.  The stated objective of the Schedule 13D filing was to meet with the Board and management of Wescorp to discuss the business strategy and direction of Wescorp.  Discussions with representatives of this group included their proposal for new board members and management, and the financing of a minimum of $1 million and up to $2 million.  The existing Board of Wescorp indicated its desire to support this proposal.  However, discussions have failed to advance in recent weeks, and the proposed $1 - 2 million financing has not occurred. Wescorp remains receptive to concluding a transaction with this group.

Discussions with the other potential financing group terminated after the Schedule 13D was filed.

Wescorp is now pursuing other potential sources of financing.

[bart.bark]

WOOOOOWWWWAAA - BIG NEWS. Is there a date set for the funeral.  Is this the regular update promised by Power.  This company just looks worse and wose. Massive debt Huge salaries and annual bonuses i.e more debt CEO quits Shareholder action fizzles and then bombs. Capital raising fails. What next: From here -  deep in this pit -  not a lot that looks good for

[fab4ever]

You nailed it Bark. Massive roll back, vend in of a 'new' technology and the game begins anew. . Ever wonder why WSCE never made it off the OTC? Could it be they never wanted it to? 

[ike3406]

Actually I think you nailed it FAB4! I think this game is over for Wescorp and it's time to move on to the next game.I'm pretty sure that a certain person isn't going to be able to suck in the same people a second time.I'd be a little nervous if I was this person...there's alot of ticked off people out there!  I wonder how K-Line is feeling about this?They build this fancy

[pinocchionose]

APB   10k unit last seen heading south behind bill poopers 1997 bmw He was in on it the whole time      

[extortionist911]

Great post Ike.I know of a few people myself that are determined to come out of this with some satisfaction one way or the other.Could get very interesting in the months ahead!

[bart.bark]

What are you talking about? Who are you talking about? We should be upset.  Look at that stock price -  can not go much lower.  This looks BAD! But will any of you actually do anything about this - NO!  Lets be realistic about this -  none of you will lift a finger  -  its ALL just TALK -  and these words are cheap.  Shareholder action -  nothing

[extortionist911]

If you don't know what or who I'm talking about then maybe your on the wrong board! I absolutely agree we should be upset...did I say we shouldn't be?Your right it can't go much lower and yes it looks very bad.Will you do anything about this?Have you done anything yet?I know what I know...what do you know and what are you willing to do about this?You can contact me through my inbox

[extortionist911]

Just to clear something up,My father and I blog off of the same desk top at work and I posted under his name just as I am now.My mistake...believe it or not.We're not the same people but we are the good guy's. IKE

[fab4ever]

You're right, you shareholders should be mad as heck!!! All I will say at this point is....follow the $$$$. And just remember extortionist911, it ain't slander if it's true....