Some piece of mind
Troy, that claim came DIRECTLY from Dan himself,
I believed him, did not go and check that.
Here is a recap for you:
Dear Dan,
How are you?
Question:
Quote:
“And, after a great deal of careful consideration of capital market alternatives, we will be working to position ERHC Energy Inc. to move from the OTC to another exchange in the next 12 to 18 months. While we are still considering whether the NASDAQ or AMEX would be a better fit, we believe that we can achieve enhanced exposure and liquidity, while at the same time providing investors with greater transparency in terms of pricing and execution. We feel the move to a different exchange will be an important step toward future growth of ERHC Energy."
Is a move to a different exchange in any way dependent on an outcome of the (ongoing/ending) investigations?
Thanks in advance,
Dan:
"It could be. You will notice that although that timeline was in the WRITTEN remarks that were prepared, Peter never actually delivered that statement in his presentation. That being the case, I’ll remove it from our Web site."
Dan, your fast. Thanks.
Let me rephrase it: is it possible for ERHC to move to a different exchange with ongoing (!) investigations? Will it stay a Houston based company that falls under US laws?
Thanks.
Dan:
"The company does not plan to relocate. A move to a different exchange could be complicated by ongoing investigations."
...
"The language you referenced has not been removed from the ERHC Web site:
http://www.erhc.com/en/art/?55
Scroll down to slide 28."
Dear Dan,
Quote from Peter:
“Q: So if your market cap is $360 million, you won’t pursue a company that is bigger than your company.
PN: Probably not. Having said that, if our investment advisors can formulate terms that are affordable and the company is the right fit, why not?”.
Are “we “ really considering to acquire such a large company?
Dan, you also told me:
"The company does not plan to relocate. A move to a different exchange could be complicated by ongoing investigations".
You must suggest here that you now already know that the investigations are over when the move to another exchange starts, within 12 to 18 months?
As always,
Thanks in advance.
Dan:
"You asked: Are “we” really considering to acquire such a large company?
If you look at the interview in its entirety, the questioner kept trying to get Peter to play “is it bigger than a bread box…” and Peter was basically refusing to give guidance on the type or size of companies/assets under consideration. It’s not in the company’s interests to share that information prior to a letter of intent being entered into, as it could affect negotiations. What he said clearly was that size will only be important to the degree that ERHC can afford it with the help of the financial experts. Once that obstacle is cleared, it’s all about the added value that can be realized through folding under ERHC’s umbrella. Those focusing on size are completely missing the point of what Peter said – it’s not about size. So are we considering large companies? As Peter said, “Probably not,” but we also wouldn’t rule it out if it was the perfect fit.
Your note also stated: “You must suggest here that you now already know that the investigations are over when the move to another exchange starts, within 12 to 18 months?”
There is no way for us to predict the course of the investigations. The leadership has stated their hopes for being in a position to move to another exchange and they believe such a move would benefit the company and its shareholders. Doing so would be challenging if there has not been a resolution to the investigations by that time. In that case, such a move would probably be delayed. As is the case with all forward-looking statements, the projected timeline is subject to change (see our cautionary language that’s on every news release).
Have a great day!
Dan Keeney, APR
DPK Public Relations
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