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Author Topic: WGLT- Huge News!!!
swan97
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Comcast to Air 'WGL Million Dollar Shootout' Nationwide This Fall
4:00p ET August 29, 2007 (Market Wire)
Comcast SportsNet gives 26.9 million viewers across the country a chance to tune in as 20 golfers compete for $1 million.

Produced by WGL Entertainment (PINKSHEETS: WGLT), the seven-episode "WGL Million Dollar Shootout" won Honorable Mention in the 2007 Accolade Award competition for Best New Reality Show. WGL Entertainment, a subsidiary of the WGL Entertainment Holding's, Inc., also produces "LPGA Meets the Bachelor" and "Golf & Poker Invitational."

The "WGL Million Dollar Shootout," shot at the Reunion Resort in Orlando, Fla. and hosted by John O'Hurley of "Seinfeld" and "Dancing With the Stars," features five teams of four golfers each. Foursomes consist of a captain, everyday golfers with a range of handicaps, along with ordinary heroes chosen by the American Red Cross.

One time every six holes, teams are allowed to call on professional lifelines to hit a shot for them. Celebrity golfers include the Golf Channel's "Big Break II" star Don Donitello, PGA Tour stars Fred Funk and Mark Calcavecchia, along with LPGA Tour stars Cristie Kerr, Carin Koch and Bernadette Luse.

After the first round, each team captain eliminates one player. Second round cuts include one entire team along with one more player from each remaining team. Two more teams are eliminated after the third round. The $1 million fourth round, where every shot means the difference between winning and going home empty-handed, features the top two teams, including the individual golfers cut during earlier rounds.

The show's finale is among the most suspenseful rounds of golf ever filmed. The final round ends in a tie, requiring a sudden death playoff for the $1 million prize. For nine nail-biting holes, the teams battle for the big payoff.

"I have been to the Masters and the British Open and what I witnessed here today tops it all, PGA Tour or otherwise," said O'Hurley after the match. "Hollywood couldn't have scripted this any better."

The WGL Million Dollar Shootout will be broadcast on Comcast affiliates SportsNet NY (8.1 million viewers), Comcast SportsNet Mid-Atlantic (4.7 million viewers), Comcast SportsNet Southeast (5.5 million viewers), Comcast Local (Mich., 1.6 million viewers), Comcast SportsNet West (Sacramento/Bay Area, 2.2 million viewers) and Comcast SportsNet Chicago (4.8 million viewers).

Casting for the second season of "WGL Million Dollar Shootout" is already underway. For more information, please visit www.WGLMillionDollarShootout.com.

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swan97
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Anyone know why this isn't moving. I thought the news was great...
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Homersbud
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The company is a joke and the OS is waaaaaaaaay too high for this POS to move.

Stay away from it dude. Will be lucky to get 1 uptick.

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swan97
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Ok thanks. It just seemed like their show is getting US National play and recognition. So I thought it might move. Didn't realize the OS was so high...
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Homersbud
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Ya dude, it's horrible. They did a R/S in Feb and the stock is already down at the bottom. It's only a matter of time before they do another R/S and pull the same bs again.
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swan97
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Thanks. Although, it says that the Outstanding Shares are at 45.2 Million, which doesn't seem that high to me, comparatively. But, you must be right, because noone wants this stock...
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Homersbud
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That figure is from Feb which is when the R/S occurred. It's in the billions I believe now.

Pay attention to the A/S. It's 10b, so sad.

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swan97
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Oh, didn't know it wasn't current. So then even with the latest success, this company isn't going anywhere...
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BlindMellonChitlin
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I don't think 'success' is in their vocabulary.....

--------------------
Making it a little at a time....Now is the time to determine if you are a man or a mouse.

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swan97
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Ok, I found what you were talking about (below):

FYI for anyone who cares...

ITEM 5.03 AMENDMENTS TO ARTICLES OF INCORPORATION OR BYLAWS; CHANGES IN FISCAL YEAR.
WGL Entertainment Holdings, Inc. (the "Company") filed a Certificate of Amendment ("Amendment") to its Certificate of Incorporation with the Secretary of State of Delaware, to affect a reverse stock split, and to reauthorize the amount of its authorized common and preferred stock and the par value of its common and preferred stock. The Amendment affected a one for one hundred (1:100) reverse stock split of the Company's issued and outstanding common stock (the "Reverse Stock Split"), and re-authorized ten billion (10,000,000,000) shares of common stock, $0.001 par value per share, and ten million (10,000,000) shares of preferred stock, $0.001 par value per share. The Amendment and the Reverse Stock Split became effective February 12, 2007.


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The Reverse Stock Split and Amendment was approved by the Company's Board of Directors on February 6, 2007, pursuant to authority given to the Board of Directors by the Company's majority shareholders to affect a reverse stock split of between 1:20 to 1:100, without further shareholder approval, in the sole discretion of our Board of Directors, at a special meeting of the stockholders of the Company held on August 16, 2006.

As a result of the 1:100 Reverse Stock Split affected by the Amendment, the number of issued and outstanding shares of the Company's common stock decreased from 7,779,478,036 shares of common stock outstanding immediately prior to the Reverse Stock to approximately 77,794,781 shares of common stock, however this number will be increased slightly due to the fact that any fractional shares of common stock represented by the Company's outstanding share certificates after affecting the Reverse Stock Split will be rounded up to the nearest whole share ("Rounding").

The Company's authorized shares of common and preferred stock did not change as a result of the Amendment or the Reverse Stock Split and as of the filing of this report, the Company has ten billion (10,000,000,000) shares of common stock, $0.001 par value per share, and ten million (10,000,000) shares of preferred stock, $0.01 par value per share authorized. The Amendment and the Reverse Stock Split also did not affect the Company's 10,000,000 shares of outstanding Series A Preferred Stock held by Michael S. Pagnano, our Chief Executive Officer, nor did it affect the voting right associated with the such Series A Preferred Stock, which allows the holder of such stock to vote 300 shares of common stock for each share of Series A Preferred Stock held.

Shares of the preferred stock of the Company may be issued from time to time in one or more series, each of which shall have distinctive designation or title as shall be determined by the Board of Directors of the Company ("Board of Directors") prior to the issuance of any shares thereof. Preferred stock shall have such voting powers, full or limited, or no voting powers, and such preferences and relative, participating, optional or other special rights and such qualifications, limitations or restrictions thereof, as shall be stated in such resolution or resolutions providing for the issue of such class or series of preferred stock as may be adopted from time to time by the Board of Directors prior to the issuance of any shares thereof. The number of authorized shares of preferred stock may be increased or decreased (but not below the number of shares thereof then outstanding) by the affirmative vote of the holders of a majority of the voting power of all the then outstanding shares of the capital stock of the Company entitled to vote generally in the election of directors, voting together as a single class, without a separate vote of the holders of the preferred stock, or any series thereof, unless a vote of any such holders is required pursuant to any preferred stock designation.


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As a result of the Reverse Stock Split, the Company's common stock will trade under the new stock symbol " WGLT" beginning on February 20, 2007.


ITEM 5.01 CHANGES IN CONTROL OF REGISTRANT.
As a result of the Reverse Stock Split, Michael S. Pagnano, our Chief Executive Officer, President and one of our Directors, has majority voting control over the Company due to his ownership of 10,000,000 shares of our Series A Preferred Stock, which allow him to vote in aggregate 3,000,000,000 shares of our common stock (or 300 votes per share of Series A Preferred Stock). As of the filing of this report, Mr. Pagnano is able to vote approximately 406,626 (not taking into affect any Rounding) shares of common stock (which amount includes approximately 372,194 shares of common stock held individually by Mr. Pagnano and approximately 34,432 shares of common stock held by Mr. Pagnano's wife, which he holds shared voting control over), or approximately 0.5% of our outstanding common stock and 10,000,000 shares of preferred stock representing 100% of our outstanding preferred stock as of the Record Date, which preferred stock ownership allows him to vote an amount equal to 3,000,000,000 shares of common stock, and provides him the ability, along with his common stock ownership, to vote in aggregate approximately 3,000,406,626 voting shares or 97.5% of our voting shares, based on 3,077,794,780 total voting shares outstanding as of February 12, 2007 (which number includes approximately 77,794,780 shares of common stock outstanding (not including any Rounding) and an aggregate of 3,000,000,000 shares which the preferred stock shares which Mr. Pagnano holds are able to vote.


ITEM 9.1 FINANCIAL STATEMENTS AND EXHIBITS.
c) Exhibits:

Exhibit Description of Exhibit

3.1 Certificate of Amendment to the Company's Certificate of Incorporation to Affect a 1:100 Reverse Stock Split
(effective February 12, 2007)

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Homersbud
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quote:
Originally posted by BlindMellonChitlin:
I don't think 'success' is in their vocabulary.....

lol...it's not.
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ohdagagain
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Damn, they are finally airing the show in the states, right when I leave. If someone could record it and put it on Youtube it would be much appreciated. The stock sucks but the show seems pretty entertaining.
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