ERHC Energy Inc (ERHE)

[midtieroil]

I had forgot that ERHC actually traded at and closed at .00001. That means the conversion price is .000005. So yes 10,000 in convertible debentures can be converted into 2 billion shares. And a single 50,000 convertible debenture can be converted into 10 billion shares.

Insiders, management, SEO and current shareholders no longer own this company. Convertible debenture holders, CEPSA and the IRS, for all practical purposes, own all of it. It will be interesting to see them fight over what little is left.

Yeah ERHC likely is in default on the CDs. This 10Q on Tuesday should be interesting to say the least.