ERHC Energy Inc (ERHE)

[Krombacher]

The fact is that HDY issued convertible debt numerous times and convertible bond holders converted and sold those shares, for example, in Oct. 2009.

And having a floor of about 1 cent when the stock trades at $4 may be a floor...but it is a 90%+ discount to market....versus about half that for ERHE.

Fact is, convertible debt is only SOMETIMES toxic, but not always. In ERHC's case, the amount of the debt does not make it toxic. Only $400k converted as of Peter's interview. That's nothing.

The rest was panic selling and tax loss selling.

By DEFINITION, if a stock falls 90%...that's a panic.

Krombacher