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I think you mean, those shares are gone and unavailable for covering at under one dollar.
About the only way a short can cover under a dollar is to buy shares from another short.
TRUTH
Krombacher
Looks like the shorts got milked again this morning.
Krombacher
Are you the only one who didn't get a cease and desist?
Krombacher
I just want to welcome everyone to ERHC Energy, aka Krombacher's Short Seller Slaughterhouse!
Take notice! Short sellers will be financially slaughtered in this stock.
Take a short position in this only if you are a glutton for punishment.
Consider this a Day One warning.
Krombacher
At the end of the day, it's all about the new paradigm.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=172920368
Krombacher
The future looks very bright for ERHC Energy.
Krombacher
Cancel culture at its finest.
If you don't agree with someone then call them a racist or narcissist or misogynist and throw them in jail = epitome of cancel culture... instead of making a reasoned argument.
If the world were attack the argument and not the person, then the world would be a much better place.
The argument on ERHE is clear. The Africans are milking the shorts... although I'm a bit surprised they didn't try to drop the price for a reset. That part I don't quite get, but we still have today and Monday and Tuesday, I suppose... so I won't jump to conclusions just yet.
Krombacher
It's important for a short seller to be a man and accept one's losses and not engage in the international crime of cyber bullying.
When all is said and done, not only will some shorts lose everything, but they may also end up in prison.
Krombacher
You need to improve your reading comprehension... it continues to hinder you as a short seller.
You realize that now that you've led other short sellers astray, after you've lost everything and are living under a Canadian bridge, you won't be able to come back into this industry to earn a living.
As a short seller who broke the moral code of short sellers and allowed longs to figure you out, your name in the short seller community is now mud.
Shame on you for misleading other short sellers. They were your kin, and you let them down because you couldn't hack it.
Krombacher
Speaking of price ...
I stopped keeping track of the T+3 yadda yadda, but aren't we almost due for a price take down by the shorts?
Let's not disappoint the scavenger buyers at cheaper prices... some of them are even shorts trying to cover... and you OWE them after misleading them into shorting this stock.
Krombacher
You're posting at 2 am???
What is that in Canadian time?
Get some sleep bro...I know short sellers barely get any sleep these days.
Krombacher
The time periods that ssc was referring to did not have Offor either as management or as a board member, so his responsibilities were no more, technically, than that of a shareholder.
Now, the situation is different. But now is a different period of time than those periods that ssc was referencing.
Krombacher
Offor was neither part of management nor on the board during ANY of the time periods you are talking about.
Krombacher
Ok.
You win.
Krombacher
Both men and women attended that conference, many of whom are part of royal tribal families and have immense respect for Emeka Offor.
Do you still want to tell Emeka Offor to his face that he's not a billionaire and a scam artist?
I think you should, and while you're at it, call Offor's bluff and offer up those 16 million shorted shares please.
Krombacher
You grow a pair first and short 16 million shares at $.0017 on the ask please.
Krombacher
Why are you doing this to the other shorts? Granted they're kind of jerks, but they're also innocent jerks, lol.
Instead, you could've stuck it to the broker, settled with the broker, and then asked the shorts to help you out.
But doing it this way, you're taking everyone down with you, and nothing morally inside you is telling you that what you're doing is wrong?
You KNOW what's about to happen.
You're NOT that stupid.
Krombacher
You don't understand.. but I think it's because you don't want to.
So I can't help you bro.
You think "pumpers" have spent like $200k ... that's one expensive clown car... is it a clown Lamborghini?
Krombacher
Oh brother.
Stop playing dumb.
And you're doing a disservice to the other shorts.
You know EXACTLY what's going on... and you know about Offor.
Why don't you warn the shorts? Be honest.
I just know the investment very well after 20 years.
Well look at the historical data... look at how many times have we hit the trips and then returned back at the ask?
It appears to happen about every T+3 days... or within the T+3 window... just enough to allow the shorts to reset so that the milking can resume.
Just look at the trends... even Emdyal said it was obvious. If it's obvious to him then it's obvious to everyone... lol.
Krombacher
Ssc,
Why not just plop your 16 million shorted shares on the ask at .0017 right now?
If the Africans are bluffing, then they won't take out the ask and you can take it down to the triple zeros safely knowing that the 16 million shares are intimidating the Africans.
But if they take it out, then you'll know the Africans aren't messing around and they mean business.
And you can get this over with.
Instead of death by a thousand little cuts, why not just go with one big Hari Kari?
It would at least be more honorable, no? If you don't, then who is the coward now?
Krombacher
Meh
Krombacher
We exist in what's called a very illiquid market.
That is both a curse and a blessing.
An illiquid market is one where there aren't a lot of buyers or sellers. The obvious reason for this is that the stock can't be bought in America.
But you can also tell when there's an illiquid market when the bid and ask are spread far apart.
In an illiquid market, the price itself is meaningless.
At $.0003, the market cap of ERHE is barely a million bucks.
At $.002, the market cap of ERHE rises to $6 million.
In a day. On no news. Nothing changed fundamentally in that day.
So does that mean that the value of the company went from a million to 6 million on nothing?
No. It just means the price is meaningless.
It can be manipulated by short sellers.
This is a difficult concept to comprehend because it's natural to think that the fundamental issue of investing is of course price.
But that's false.
The fundamental issue is value not price.
The value of the company according to comparables with Oranto is $1 a share when oil was at $70.
Price will eventually converge to value.
Krombacher
Fear causes people to lash out like this...
... don't worry, eventually you will feel numb to it as the other shorts do.
But if you have issues, take it up with Offor.
He's a billionaire, and so maybe he can help.
Krombacher
Trust me,
They're gong to let you take it to tripsville.
Enjoy the round trip.
Krombacher
10 paragraphs = worried, crapping his pants, has to protect non existent American buyers from a stock that can't be bought in America as his ruse for his huge short position, etc.
2 paragraphs = throwing in the towel, learned helplessness, ready to grit his teeth through the upcoming short seller nightmare... plus 2 paragraphs at least gives him something to do in an otherwise futile situation.
Krombacher
I think the shorts will need a bail out... they can always ask for one from Emeka Offor.
He is, after all, a MULTI billionaire
You know...I quote ssc: "B B B B Billion!!!"
Lol.
Good luck.
Make sure you insult him for being a Nigerian scammer.
Hahaha
Idiots.
Krombacher
This is going to make "diamond hands" look like rookie time.
He doesn't have a clue... he probably thinks this is a mild loss... he has no idea.
But I did in fairness tried to warn them, as I tried to warn every one of them.
They didn't listen. Instead they bashed Nigerians very disrespectfully.
Oh well.
I guess they thought I was bluffing... but I don't play poker. I told them that too!
Weird.
Krombacher
It's almost laughable how little impact your post is going to have.
But hey, you gotta try sumptin' !
Am I right or am I right?
Krombacher
Do you now understand what I mean by "checkmate in 3"?
The game at this point is preordained for the shorts to lose and it can only play out in this one way... there's no other choice for the shorts. Their only other option is to resign the game, but that means giving up and they're not about to do that. So they have to do what they're FORCED to do. Which is that they're FORCED to be milked and then lose anyway.
See?
It's chess not poker. It's always been chess.
Krombacher
See, you might ask yourself: if the shorts KNOW they're being milked, why don't they offer shares at a high price, like a penny or a dollar? At least that way they would know how high the Africans are willing to pay to get shares?
The answer is that the shorts know that if the price exceed the margin call price, a short squeeze might happen. So they will defend whatever the margin call price is. See?
Krombacher
In any event, any way you slice it or dice it, the trading patterns are clear.
This is one big milk-a-polooza
Krombacher
The scavenger people are kind of smart because they know the shorts will have to take it down at each reset.
I personally think the margin call price is at $.005 or slightly higher..
But the shorts do seem to be defending $.002 with vigor.... so a T+3 reset might make sense.
We will see.
But what if we're not at some kind of margin call price? Then the shorts will not likely bother to take the price down and T+3 days will have passed giving a clear signal to the Africans that they can resume buying again.
This will rinse and repeat, rinse and repeat, all the way to announcement.
That's just my opinion.
Krombacher
If I had to guess, most likely there now has to be a margin call reset for the shorts, so the price will have to go down again, maybe take out some of the bids for the cheapo scavengers and then we can move upward again and maybe eventually take on the 16 million shares that the other ssc is offering.
But that's just me armchair quarterbacking it. The Africans do their thing as they see fit.
I'm just a spectator at this point.... until we get the announcement.
Krombacher
Dude.
It's over.
Sorry.
Krombacher