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Specific Performance asks the court to force the opposing party into a contract that binds them to actually perform the contract at issue, rather than award damages for breach of contract. In real estate litigation, a buyer can force a reluctant seller to live up to the purchase and sale agreement.
No sellers?
Do you want ERHC to succeed?
Or do you want to succeed yourself?
Another rosy picture being painted here, as if litigation financing is a done deal. As usual, the reality of the situation, ie the real paradigm, is being overlooked. From the recent 8-K:
Quote:
As of the date of this statement, ERHC BVI is actively considering, directly and by the auspices of its said parent-company affiliate, ERHC Energy Inc., several financing options for continuing the arbitration, including but not limited to funding by litigation-finance firms. There is no guarantee however that any of such options will come to fruition.
If ERHC BVI is unable to continue to pay for its legal representation and associated huge legal costs and/or does not prevail in the arbitration, the inability would have a fundamentally material adverse effect on ERHC Energy Inc.’s and ERHC BVI’s prospects, financial condition and operations.
I agree with you SSC. Any minute spent on this company's problems is a minute lost! I will stop posting, it is in vain.
Agree?
I believe that's the main reason why Kosmos went to court trying to force ERHE to make a deal.
It seems you like to discuss things over and over... and over and over...
Read back my posts if your memory lacks.
Who says they arent and just havent filed yet.
NWTF:
What you describe is nothing more than a narrative.
Factually it says ERHE is in dire straights.
No, do you know why that is not the interesting part, my friend?
Since you've been saying that for a long, long time...
Are you shocked that lawsuits cost money? It seems they survived, and it also seems that they will not go bankrupt over a lawsuit.
That will not happen, majority owners will not let that happen...
And now back to my remarks please...
Quote:
Sorry you missed it. Check online ERHE, go to their web site and review the update.
I do wonder why they released the 8-k now??? It didn’t give much new info. Can’t wait to find out what is happening.
In the fall of 2017, ERHC BVI terminated the Agreement with the IOC. Dissatisfied with the termination, the IOC instituted arbitration at the ICC
ERHC BVI believes in the strength of its case and its allegations but it is important to note that they are subject to being proved before and upheld by an arbitral tribunal. The outcomes of dispute resolution in the nature of a contested arbitration such as that between ERHC BVI and IOC cannot be predicted with certainty.
No, not only that one artical, also the fact that ERHC has not filed for bankruptcy yet.
And all the developments coming that could have a positive impact on this company.
Good luck to all of us, yes, ALL of US here.
The Doc.
I agree Offor could afford to own more shares, but just as he stood aside and did not provide the critical financing that could have prevented the toxic debt fiasco, issuance of split-adjusted 300 billion shares, and destruction of 99%+ of shareholder value, there is no proof he has committed any additional funds this time.
There is proof that erhc now has almost 3 billion (300 billion split-adjusted) shares outstanding and nothing anywhere to document any change in the number of shares owned by Chrome or Offor since the last 10-K.
It appears you are the one trying to have it both ways. 1st using the latest 10-K to document Offor and Chrome ownership, then attempting to invalidate that same 10-K information by claiming it is not current. Sorry but one cannot have it both ways.
No it isn't. It's totally false in fact.
Stay with it please. I addressed this already.
No!
Companies with overwhelming debt or other financial problems file bankruptcy when they believe they have a reason to reorganize and stay in business.
No, the reason for .0002 is known.
We talked about why ERHC isn't bankrupt yet, while I showed that it should be, if what you said was right on the money.
Stick to the facts I posted about insolvent and bankrupt.
Like I said, on the surface it seems you are correct.
But ERHC's rights need to go somewhere.
maybe thousands of pink sheet companies that went to $.0001 and then simply disappeared.
You are playing wordgames.
ERHC should have filed for bankruptcy, but it has not.
There is, fortunately, just one reason if companies don't file for bankruptcy (for so long now).
And I quoted that reason.
Lol, this is beyond far fetched.
ERHC as the 'execption'... right? lol.
A wortless company would have filed for bankruptcy. Rights would have been transfered back to the countries asap.
That is the whole point...
So, a very weak explanation for the current situation, fortunately I might add.
The value of whatever erhc still has is reflected in the share price imo. A handful have been arguing to the contrary for years now...
Read my other post:16459
and read:
https://www.greenwaybankruptcy.com/articles/the-difference-between-insolvency-and-bankruptcy/
Typically, those who become insolvent will take certain steps toward a resolution. One of the most common solutions for insolvency is bankruptcy.
https://www.debt.org/faqs/insolvency/
Insolvency vs. Bankruptcy
Insolvency is not the same as bankruptcy. Insolvency is a state of economic distress, whereas bankruptcy is a court order that defines how an insolvent debtor will meet his or her obligations and/or have assets liquidated (sold) to pay the creditors.
So an individual or company can be insolvent without being bankrupt — especially if the insolvency is temporary and correctable — but not the opposite. However, insolvency can lead to bankruptcy if the insolvent party is unable to successfully address its financial condition.
Insolvent companies can reverse course by cutting costs, selling off assets, borrowing money, renegotiating debt, or allowing themselves to be acquired by a larger corporation that will agree to take over the insolvent company’s debts in return for control of its products or services.
All signs point to them being BK. They just havent filed.
As I said previously. A company doesnt have to FILE BK to be BK or insolvent.
What's to acknowledge?
You do seem to have a point, but I'm not entirely sure that your explanation covers everything.
Krom also seems to have a point: with these oilblock-rights ERHC cannot disappear "without fanfare and without filing bankruptcy."
You must acknowledge that, right?
Can you elaborate?
?
SEO wiped out his own shareholder value too.
So that is not the issue.
Why are they not bankrupt?
May 18th, 2018:
https://www.thechromegroup.net/videos/interview-sir-emeka-offor-sydney/
Dead broke. :)
The historic chart shows an accurate picture of the carnage that is erhe stock. A steady fall from split adjusted $99 to $.0002.
Just as bleak are the last 1 1/2 years where the stock has settled into a range of .0001 to .0003 and the company has chosen to no longer file financials.
Krom,
Quote:
A company doesnt have to file bankruptcy to be bankrupt and or be unsolvent..
That is what I am afraid of, a bit, indeed.
What do you have to say about that, Krombacher? Disagree?
LINK PLEASE...
lol.
A company doesnt have to file bankruptcy to be bankrupt and or be unsolvent..
One would say so, indeed.
But I'm not sure if there is some kind of grey timeframe in which a company is bankrupt, but the listing is still there?
I thought I experienced something like that a long time ago with another company during the internet bubble during the years 2000.
But... that did not last as long, as it does now with ERHC...
The Doc.
Link please?
And we'll learn the secrets we don't know as a certain libelous short seller gets prosecuted as we speak.
Krom,
and take on expensive lawsuits even with libelous shorters.
3) new information that the Kenyan block is suddenly more prospective than once thought...
No, not directly. But if you are involved in a stock via investing, talking about your investment seems not unlogical.
And that is what those naysayers do: spending time here, on a daily basis.
The moment my financial interest/involvement with this company is over, I'm gone for good. And that is how it normally works.
Oh, would I dearly want to know what is going on right now behind the scene... if anything at all.
What also worries me is the fact that no insider information whatsoever leaks out to anybody, since the share price does not move a fraction of an inch.
I don't think that is solely related to the Kosmos issue.
If any good news would become available, the share price will increase at least a factor 100, but before that SEO could buy up everything for next to nothing, IF his interest is still here.
Again, if he is not interested anymore, then WHO is keeping ERHC alive right now? I mean, at some point the must file for bankruptcy, right?
The Doc.
Krom,
So here I am congratulating you all in advance and also a thank you goes out to fantastic management team who prevented an HDY fate and of course to Offor, who tested the loyalty of the shareholders and rewarding those who were loyal. He could've bought the entire float but he had the decency to leave some shares cheaply available to those who truly believe in him through thick and thin.
A helicopter view:
Yesterday I had a rare moment that I thought of ERHC again, lol.
The one thing that everybody must agree upon is the truely miraculous fact that ERHC is still alive…
I would almost say 'How is this possible? Don't they have (financial) obligations that they cannot fulfill?'
And even while they (obviously) can fulfill these obligations: 'what is the use of keeping ERHC alive?'
Aren't those fascinating/intriguing questions?
Midtier, SSC, help me out! Try to come up with a (believable, realistic) answer to these questions. I'm sure I'm totally wrong here according to you two guys… but let me know why!
Don't forget I said: a believable, realistic, explanation on why ERHC is still in the air.
The Doctor.
Sneak...
As the Operator of Kenya block 11A, Cespa deemed the Exploration Well Non-Commercial even through ERHE had claimed two Hydrocarbon Discoveries with one in excess of 100 meters FACT.
A 66 million barrel discovery in and of itself is not a commercial discovery for a company the size of Cespa. With a 55% share of any discovery and 50% of thier cut going to the government, there was not enough money for a company the size of Cespa to be interested, thus the well is non-commercial FACT.
Earlier reports by OilNews Kenya that the Tarach-1 well in Block 11A was disappointing have now been confirmed with the commissioner for petroleum Martin Heya at the Ministry of Energy and Petroleum saying the Spanish explorer Compania Espanola de Petroleos (CEPSA)was a dry well.
Any news from Harris County?
Quote:
Maybe I should have bought Apple and now have close to a million dollars instead of 8 cents. What was I thinking?