Addax Petroleum (fka AXC)

[midtieroil]

Yeah some have been buying while ERHC has been "cheap" for years. That has resulted in losses every single time. I think it was called dilution insurance. With the potential of billions of additional shares of ERHC stock that could be issued due to the remaining, outstanding, toxic convertible debt, this stock can never really be considered cheap no matter what the market price or market cap is. The dilution alone is enough to obliterate shareholder value as we have seen.