Important: Not sure if this has been mentioned on the message board by anyone else, but it is important to know about this company.
ERF has stumbled and fallen...no hiding that. Certain things got out of hand...whatever. However, what you need to know if looking at this for the first time or even other folks who have owned for a while and thinking that their investment is lost...this company is worth a lot of money...TO ANOTHER COMPANY!
Simply put, due to the difficulties to date, ERF has accumulated a tremendous business loss carry forward...millions of bucks (someone chime in if you know the exact amount). With the share price this low, a savvy company could come in and do a straight share purchase or structure a deal in a myriad of other ways to gain control. With the right structure the acquiring entity could take advantage of those tax losses. When that happens, ERF could soar.
Happens all the time. So don't think ERF isn't valuable just because it's sub penny...not hardly. In fact, I've made a lot of money dabbling in companies just like this over the years. Any time I see a sub penny play, I do some research and, if promising, buy up some and tuck it away. I've made good money on very small investments simply by sitting on the right stocks for sometimes several years. Good things can, and do, happen. In fact, I know that some hedge funds buy a portion of their "wild card" investment funds in sub penny stocks just like this. By spreading investment dollars over a few of these all it takes is one winner to totally clear any losses from your losers and gain tremendous profits for your kitty. Great strategy...pick up a few and enjoy the dice roll. Just buy em' and tuck em' away.
cheers
