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Regarding post 303449
From this morning, before I got the current number from the T/A, and disclosed it to him:
Doc,
I’ve seen lots of chatter about that online, but I don’t have any information about it. Based on what I saw online, it looks like the TA has outlined the process for someone to formally submit a request – in writing with proof of being a shareholder of record.
I believe the Company is trying to keep its administrative expenses in check, which is at odds with the administrative burden of having to respond (or having its service providers respond) to dozens of daily records requests. This is why they’ve sought to streamline some of my activities, and I suspect that the Transfer Agent has also been asked to streamline how it responds to requests.
As is the case with my services, the Company would prefer to publicly disclose information on a quarterly basis through its SEC filings rather than respond to daily requests. In my experience, information about outstanding shares is calculated quarterly to ensure it is accurate and it is disclosed in the Company’s quarterly filings. I know that others have other experiences and expectations and I’m not interested in a debate – I am simply stating that these are mandates the Company instituted for us and I suspect other service providers may also be subject to these mandates.
The bottom line is that for the most part the holders of convertible debt have not converted. Speculation to the contrary has been inaccurate. The accurate data is presented by the Company in its quarterly filing.
Sincerely,
Daniel Keeney, APR
DPK Public Relations
Toll Free: 800.596.8708
Portland: 503.922.0023
DFW: 214.432.7556
Houston: 832.467.2904
E-mail: dan@dpkpr.com
Web: http://www.dpkpr.com
Twitter: http://twitter.com/dpkpr
Blog: http://www.danielkeeney.com
Who else provided a loan and converted before the reporting date other than Offor?
Now that we know that Chrome already converted a reverse split would affect Chrome like everyone else.
Also from yesterday:
Doc:
The 10-Q includes the following. These data are provided by the organizations responsible for tracking and reporting such information and the Company has no reason to question its accuracy.
During the six months ended March 31, 2015, the Company issued an aggregate of 574,083,793 shares of common stock for conversion of convertible debts…
The number of shares of common stock outstanding as of April 30, 2015, was 1,339,487,881.
Daniel Keeney, APR
DPK Public Relations
214.432.7556 (DFW)
832.467.2904 (Houston)
Web: www.dpkpr.com
Blog: www.danielkeeney.com
Twitter: @dpkpr
Strategy, you are indeed right about Offor.
I guess from those numbers that Chrome basically did an immediate conversion of their $250K loan to shares. Probably to keep majority voting rights.
BREAKING NEWS regarding outstanding shares as of today:
Courtesy: Julius Erving
Julius,
ERHC Energy has a total of 2,618,596,032 outstanding shares and 3,000,000,000 Authorized shares.
Please let us know if you need anything further.
Thank you!
Xxxxx Xxxxx
Corporate Stock Transfer, Inc.
3200 Cherry Creek Dr. South, Ste. 430
Denver, CO 80209
Telephone: (303) 282-4800
Fax: (303) 282-5800
Email: XxxXxxx@corporatestock.com
Please consider the environment before printing this email.
Celebrating our 30th year in business!
Regarding JDZ,
I found a Word doc which I saved, from years ago. still interesting to read:
•Jorge Santos, President of ADC, said recently that the lack of Chevron's results can mean the success of the work in contiguous block 2, due to a "vertical" at the bottom of the sea. "On the one hand Chevron only made a hole, which was not within the expectations of them. On the other hand it does not have bored in the right place. Between the block 1 and 2 there is a certain vertical, suggested that perhaps the whole expectation that has formed the first block [to] is in the second ".
•JDZ News: STP Nat'l Petroleum Agency (ANP) chief tells Lusa JDA and company representatives informed the JMC at weekend meet of "1st phase" drilling results in Blocks 2-4, offering "good perspectives".
Oil was found in "expected" quantities and "much gas" in one block, acccording to Luis Prazeres.
That has nothing to do with glut oil on which you Judge them now.
No, this is not true and can be proven. Glut oil + CN set in the real downward path.
If they acted rationally to the mismanagement, then glut oil + CN is ERHC's fault.
The CN's were the only available option, due to the glut oil.
The chicken and the egg, who was first?
Well, other than that he is still alive? :p
Dan is still with the company. I just got a mail from him. Two, actually.
The Doc.
The rest of it is fear or concern or call it what you want...but irrational selling nonetheless.
That could be a possibility, since the assets are still great, and the dilution is only 100% by end of quarter.
The Doc.
I'm afraid I indeed made DK a lot of money...
Grrrr...
I believe there is a rock solid legal case against Ntephe for completely abandoning his fiduciary duty to shareholders,
And will that less than half part that still needs to hit the market destoy the share price further, iyo?
If not, how does that work?
The Doc.
What is not clear to me is whether or not the share price can still go substantially lower due to not converted and sold shares in the near future.
Since less than half of the convertibles hit the market, according to Krom, there is a potential to further destroy the share price over the coming months?
What are your thought on that possibility?
The Doc.
(...)and they have now cut expenses dramatically.
It's obvious that only approx slightly more than half of all of the convertible debt has been converted, especially if you agree with midtieroil's number of 808k yet to be converted, which I do agree with.
Hence, all of this fear over conversions and sales of stock is not grounded in any reality...it's all been panic selling.
And that's great, in some regards. Not for the panic sellers who will regret it when the share price recovers, but it's great because it indicates that this HUGE unprecedented sell off was all nothing more than irrational fear.
Did you try to contact the company about that issue regarding the Chrome loan?
What do you expect happens with the share price over the coming period?
Why do you think not much (how much?) was converted and sold by the debt holders?
It is a good thing I assume, since the higher the share price, the less shares are issued on conversion?
LOL NO:
"The Reason Taipan Will Succeed is EXPERIENCED MANAGEMENT".
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=97586902
"It's an area that is oil-rich with little gas and it's cheap to drill,"
Looks like the Kromafyer was right:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=107011351
What other scenario makes any sense when you realize that Offor's loan has been converted
That said, I also don't understand why the accountants haven't put back on the 'going concern' clause as I don't think they have cash for two years any more.
The fact that not that many CD holders have converted to stock is telling as well. I wonder why they didn't convert? Hmmmm.
I'm looking forward to your thoughts on the 10Q
Proof that a majority of the CD's have been cashed in which should also greatly reduce the dilution going into the float. Yes, I expect Chrome to regain a good portion of their market share with further loans until drilling next year but it will not kill the share price.
I am also looking for the details of the Chrome loan which should prove another point I have been suggesting for the last three months which will illustrate how Chrome can rebuild they piece of ERHE but in a way that helps both the company and ALL shareholders. Until it is in writing, the concept I hope to illustrate can not be understood or believed by the nay sayers.
An update on the outstanding share count which will also debunk the panic that has been happening on the other board. It will be kind of ugly but it may help ease some of the ridiculous suggestions going on for several months.
And what do you think? Is the purchase of Sylvan just before the 10Q a good or a bad thing?
If news is presented (which is hardly ever the case in a 10Q?) then he could not buy, insider trading?
Or can he buy regardless of news or whatever?
Crazy, hair pulling company! The more I think about this whole nightmare, it wouldnt be possible to write a book and if you some how did, no one would read it. (except Krom :))
UNLESS they can miraculously stay in the game and find a billion barrels. God help us!
The moment Offor converts his shares, then and only then this will end.
Some people have a short memory span.
Time is running out.
Looking at the L2 right now:
1) It appears to have cleared out the VFIN flipper riff-raff that appeared to be present all week.
2) It may have been the tail end of the most recent rounds of CD dilution cashing out.
3) Hopefully, a combination of both 1) and 2).
,,,so they are strechting the uncertainy as long as possible..,,,,
a very big yes of mine ...DOC
bests Arnim
If we can negotiate something with Chad before this happens, great.
.0006x.0007
If 3 billion shares would be outstanding, ERHC's $600K OANDO share is worth $0.0002
Only the OANDO investment...
Go figure.
What would the 30% of 11A be worth to CEPSA?
Lol.
Offor is no longer at the helm, probably. But we are. So before when things couldn't be done
Tullow confident:
Tullow too complicated to be takeover target - CEO
http://uk.reuters.com/article/2015/04/30/uk-tull-oil-outlook-idUKKBN0NL0F420150430
Has this been posted earlier here?
http://www.jkuat-sri.com/ojs/index.php/proceedings/article/viewFile/89/55
The Doc.