Addax Petroleum (fka AXC)

[midtieroil]

Not true again. I have had many people thank me for spelling out fully and truthfully the problems that ERHC faced often long before others saw them. Many saved a bundle from listening. As we all know I pointed out that the convertible debt was likely to be highly toxic. It was and billions of dilutive shares of new stock and a downward price spiral along with a reverse split followed.

I also pointed out the tax receivable that appeared suspicious. That later turned from being a $2 million receivable into a $2.7 liability and resulted in a tax lien being placed on ERHCs assets.

Now I am warning about the actions CEPSA may be taking against ERHC because it appears ERHC cannot pay what they owe. None of this is fear mongering or even close. It is detailed analysis of what is likely going on behind the scenes and the vast majority want to hear it instead of trying to hide it.