ERHC Energy Inc (ERHE)

[midtieroil]

Depends how you define broke. Companies with millions or even billions in cash and assets sometimes declare bankruptcy because they don't have the liquid assets to pay off their debt. Think of GM not too long ago. Were they broke?

ERHC has some assets of questionable value and a little bit of cash in the bank. But they have millions in current liabilities that they have no ability to pay. Are they broke?

I prefer to use the word "insolvent" or "in dire financial condition". Is that the same as being broke?