Addax Petroleum (fka AXC)

[midtieroil]

I've heard the exact same things about ERHC for the last decade and it's still trading at .0001 even after a 1:100 RS, even after 300 billion pre split shares were issue and are still in the worst financial position in its history. I think they're toast.

That 13 million in debt with a lien on their assets along with almost no cash and almost no remaining shares to issue could be difficult to overcome.