You can't always get what you want, but if you try sometimes, you get want you need. Rolling Stones
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Where are PN & SO? Houston? London? Kenya?
Anybody working at the Houston office? A secretary?
If the rent is not being paid (very likely)at the Houston office, has the landlord started eviction procedures" As a landlord, as soon as someone stops paying rent, I start the eviction. Most landlords do the same thing.
Any update on the sale of PN's house in Houston?
If PN & SO are not getting paid, do they come to work? Did they ever come to work at the Houston office?
Can anyone answer these questions???
Where are PN & SO? Houston? London? Kenya?
Anybody working at the Houston office? A secretary?
If the rent is not being paid (very likely)at the Houston office, has the landlord started eviction procedures" As a landlord, as soon as someone stops paying rent, I start the eviction. Most landlords do the same thing.
Any update on the sale of PN's house in Houston?
If PN & SO are not getting paid, do they come to work? Did they ever come to work at the Houston office?
Can anyone answer these questions???
Does anyone really expect a dead cat bounce? ERHC has no shares to sell to raise money and no money to pay for the cost of a share split. Yes, a lose, lose situation and the losers are PN & SO who are no longer getting paid So sad, but I am not crying.
Thanks King, fixed it. Management needs to be reminded everyday what they have done to the investors.
But if we have full disclosure and honesty how can I sell my ERHC shares into a pre drill run up, like others want to do? If there is full disclosure then there will not be any unknowledgeable buyers to buy my shares. Facts have to be hidden to find these buyers.
Ps: new signature for me, what do you think?
The fact that this warning of a "going concern" has been there for an extended period of time makes the situation even WORSE. if this statement is not removed soon it means ERHC will be GOING OUT OF BUSINESS. This warning should be repeated everyday as most investors do not read through filings looking for this statement. Investors do not want to invest in a company that is going out of business VERY soon!
Because of its financial condition, It appears ERHC may not be able to keep the lights on. This reminds of Dandy Don Meredith humming in the back ground on a Monday Night Football Game. Boy do I miss him singing, TURN OUT THE LIGHTS, THE PARTY IS OVER. It is only a matter of time when the party is over for ERHC.
I think I hear Dandy Don Meredith humming in the back ground, but the lights are still on.
Middy, is there a "going concern warning" in the new 10Q. I don't think ERHC can possible not have such a warning considering the dire financial straits they are in and the executives are not even being paid.
Someone should see if PN or SO are even showing up at the office anymore. Think about, if they don't show up and get docked with no pay, they are just the same if they show up and don't get paid.
For those guys its a lose lose situation (or better a loser, loser situation).
I wonder if I should invest money in ERCH since I just sold my 22' pontoon boat for $11,000. Then in the future I will be able to buy a luxury yacht (like oldoil plans to do)?
Now that I think about it, there is no way I am going to "invest" any more money into ERHC.
The only Apple anyone should be nibbling at is AAPL shares, where money can be made. Can some post a 10 year chart comparing Apple and ERHC. I bet the lines are so far apart that both are off the chart, one at the top and one at the bottom.
So the company stopped paying the Board of Directors to the tune of $172.8K. Well maybe those jokers didn't deserve to get paid since there has been no elections for ~5 yr and it is questionable if they are still in office. I bet the BoD has not held a meeting in years, so why should they get paid.
As far as the ~$100K in officers salaries, it is about time that PN & SO stopped getting paid. They do NOTHING and what they have done in the past only caused the share price to drop and drop. Let's review, once almost $100 now $0.000001 (pre split) or once almost $10,000 now $0.0001. That's a 10,0000,000 to one drop. How it is possible they didn't get fired after that?
Also we need now is a 10 million bagger to get back to the high. Is that possible?
Another week goes buy and the share price goes nowhere. PN & SO are still getting their paychecks that they do not deserve. I can't wait to see the next quarterly report where the cash balance will be close to zero and the outstanding shares are maxed out. The end is near.
but Middy. there are still some here that believe it is ok to hide these facts from potential investors so there might be a pretrial run up in eric's share price and they continually complain every time the truth is stated and complain even more if it is repeated. Unbelievable!
E, is letting everyone know that there is "a going concern for erhc to remain in business " comment in Eric's current filings considered bashing? Or is it letting all know the true facts about Erhc.
With all this exciting news pending (new exchange/ partnership, 10q soon) maybe the share price will hit 3 milrays! Get the rally monkey ready.
Is ERHC headed for the Nigerian Stock Exchange ? I can't wait. Will we buy / sell the shares in Nairas?
Middy, please don't post those warnings! there're some here who want/need a pretrial run up and need uninformed buyers to unload their shares on. They are looking for an uneducated stock buyer to create an unjustified run up in the stock price. They have no morals and criticize those that post the truth.
Actually it is not in my DNA either, but there are some (at least one) who believe concealing the true facts about ERHC's management and ERHC's horrible financial condition, should be kept hidden so they can sell their shares to an unknowing sucker.
No, not a Smokey fan. Do you like PT Barnum?
What was I thinking about in that last post? Have I lost my moral content like some others here? Should I put personal greed above ethics so I can get back some money with my ERHC investment?
Maybe with this announcement the predrill run up will begin. So I guess we are no longer allowed to comment on any and or all of the ERHC''s problems, such as the over $12 million debt, the IRS liens, the going concern statement, the lack of cash, etc., etc., etc. Let's sweep all that stuff under the rug and ignore it so we can finds some unaware investors to buy our share at bloated prices. A sucker is born every minute and if we hide the facts about ERHC from them maybe they will buy our shares. Maybe this is deceitful but all I care about is making sure there is a PREDRILL run up.
What do you blame the lack of predrill run up on?
Is that one one TRUE?
Because, if not, try to refute ANYTHING with facts, not fake news.
I agree the chance of success number (18.8%) should not have been hidden and I for one was VERY appreciative that you disclosed it for all here to be aware of. Any yes this number is so important that repeating frequnetly was very essential. Although some here thought doing so held back a predrill run up, that concept is just wrong. The 18.8% was a decent chance to find oil and what held back any predrill run up was ERHC's management past history. Most here belonged to the fool me once club and wanted to wait for real proof of oil before committing more money into ERHC. I only wish those who wrongly believe that there was no predrill run up because of the disclosing the 18.8% would realize the true cause of no run up was ERHC's bad management and nothing else.
Both of ERHC's drilling partners spend millions of their own money looking for oil. No one would spend that kind of money unless they thought they had a good chance of finding oil and that it would be profitable. The fact they these companies were not the best drillers was relevant, but the fact that were drillers spending their own money let me to believe they at least somewhat knew what they were doing and the chance of success was good. More bad luck than bad skill.
To update this risk versus reward scenario in today's market. What are the chances of ERHC finding oil? How much will the share price go up if oil is found?
Answers:
Chance of finding oil = 1,000,000,000 to 1. (One billion to one)
How much will the share price multiply =. 1,000,000 (a one million bagger)
Conclusion = bad investment, especially if the company has a going concern warning in their filings.
One is better off buying a lottery ticket then investing money in ERHC.
As all gamblers should do, as well as any risk takers, or even stock investors, one must weight the risk versus the reward. When the drilling began in the JDZ it appeared the chance for success of just one well was very good. So buying shares of ERHC it appeared to me the risk was low and the reward was high. To throw out my thoughts, I believed the was at least a 25% chance of one of the 6 drilling sites of finding oil. I thought this was very a very conservative believe. I also believed if oil was found, the share price would more than quadruple. Those odds would indicate the investment would be successful. Needless to say the JDZ did not have any successful drilling results.
Now, let's look at Kenya where the the one well had a 18.8% chance of success. Would the share price rise 5x if oil was found? IMO, the share would go up much higher than 5x because at the time the share price was very low and was ready to explode if oil was found. So even with only an 18.8% chance of success, ERHC was worth the risk and a good investment. As a gambler, I know even if the odds are in your favor, you don't always win. In is case ERHC would only win 18.8% of the time and in our case it just didn't happen. But because it didn't happen in our case does not make it a bad investment. The fact that both the JDZ and Kenya were not successful was for the most part just plain bad luck, not a bad investment. The fact that management failed be a success with all the assets and money they had did make it a bad investment, because with all management had they still have been successful.
As all gamblers should do, as well as any risk takers, or even stock investors, one must weight the risk versus the reward. When the drilling began in the JDZ it appeared the chance for success of just one well was very good. So buying shares of ERHC it appeared to me the risk was low and the reward was high. To throw out my thoughts, I believed the was at least a 25% chance of one of the 6 drilling sites of finding oil. I thought this was very a very conservative believe. I also believed if oil was found, the share price would more than quadruple. Those odds would indicate the investment would be successful. Needless to say the JDZ did not have any successful drilling results.
Now, let's look at Kenya where the the one well had a 18.8% chance of success. Would the share price rise 5x if oil was found? IMO, the share would go up much higher than 5x because at the time the share price was very low and was ready to explode if oil was found. So even with only an 18.8% chance of success, ERHC was worth the risk and a good investment. As a gambler, I know even if the odds are in your favor, you don't always win. In is case ERHC would only win 18.8% of the time and in our case it just didn't happen. But because it didn't happen in our case does not make it a bad investment. The fact that both the JDZ and Kenya were not successful was for the most part just plain bad luck, not a bad investment. The fact that management failed be a success with all the assets and money they had did make it a bad investment, because with all management had they still have been successful.
SHARE HOLDER OPPORTUNITIES ??? You feel bad that you missed out selling your shares when the share price was higher? Well, well everyone feels the same way.
I wish I sold 10 years ago,
I wish I sold 9 years ago,
I wish I sold 8years ago,
I wish I sold 7 years ago,
I wish I sold 6 years ago,
I wish I sold 5 years ago,
I wish I sold 4years ago,
I wish I sold 3 years ago,
I wish I sold 2 years ago,
I wish I sold 1 year ago,
I bet you do too, as everyone does, since this stock has only gone down, down down and the only one to blame is the management, not anyone here
Emdyal,
I belief that statement about ERHC having a going concern warning in their latest financial statement should be repeated every day on both boards. It is extremely important.
I belief that statement about ERHC having a going concern warning in their latest financial statement should be repeated every day on both boards. It is extremely important.
When Erhc's money runs out (30-90 days) and has no money for payroll, you can bet you bottom dollar PN/SO will be long gone. The company will have to file for bankruptcy and go into receivership. This is not far off. The shares will likely be frozen and those holding them will not be able to trade them.
LOOK OUT BELOW!
GOING CONCERN WARNING
I belief that statement about ERHC having a going concern warning in their latest financial statement should be repeated every day on both boards. It is extremely important.
Middy, you say,
"Eland has a going concern warning in their financial statements too. They aren't in great financial shape either."
When you say "has a going concern warning in their financial statements TOO." I assume you are referring to ERHC?
I belief that statement about ERHC having a going concern warning in their latest financial statement should be repeated every day on both boards. It is extremely important.
I think those who bought the million shares @ 2 milrays (the slap) fall into the expression a sucker born every minute. It was so appropriate to have that posted right after the PT Barnum post.
I meant "bagger" as in 10 bagger would gives you 10 times what you bought in at. So how likely is a 100 million bagger? (Yes, just to break even!)
Yes, it been about a decade since the share price peaked at nearly $100 (pre split!). Yes, I did buy some shares close to a dollar. Let,s consider where the current share price would have to be to JUST BREAK EVEN. The present $0.0001 share price would have to get to $10,000 (factoring in the split). That means one would need a 100,000,000 bigger to break even. Not even Apple has done that so how can a company with little money, huge debt and no drilling in the foreseeable future do it? (Plus a "0n going concern" in the last 10Q). It sure looks like those $100 shares are going to lose money.
How can Erhc avoid bankruptcy with very little cash, over $12 million in debt and an IRS lien on its assets? Plus no possible drilling in the foreseeable future. How is Erhc going to make any money?
How can anyone buy at One milray when the latest quarterly report indicates that the accountants indicates there is a financial problem that erhc may not continue as "a going concern". That is Erhc may not be in business in the near future. What could be worse? This is a fact NOT fake news.