Now that is hilarious logic.. So now the gag order not only allowed erhe to legally not fulfill their reporting requirements but also allowed Offor to illegally gain control of erhe by nondisclosure by buying 90 percent of the os while your group holds 50 percent and since he holds 90 percent he can do mergers and acquisitions without a shareholders vote. LOLOLOLOL

I can vouch for Tamtam. I met him at a shareholder mtg in Houston back when ERHE was at least pretending to be a real company.

There's no need to treat the longs disrespectfully who are simply choosing to not give up hope.

I probably had as much invested here as anyone at one time, but was not prepared to wait it out forever.,,

If this goes like the other times in this situation tomorrow should be interesting...

In hindsight, the FDA is what cratered this with their war on the product category. They went from 10's of millions in sales to virtually nothing. That FDA ruling is still being contested, so if that can be overcome, KAVL may be one of the only companies that can market their product...

I'm in a wait and see on the patents they purchased and the possible acquisition/merger. What I'm playing right now is the extremely depressed sp and the fact that they now have cash in the bank and the dilution should stop long enough for the sp to improve if they can demonstrate a solid business plan for the future.

I'm also hoping the day traders will attack again...

That it is. I've been watching it trade the last few days, and if I'm reading it correctly, someone with deep pockets is buying. The average retail investor doesn't place $100,000.00 orders. Not to mention most of the volume is occurring on the buy side, and then it dries up as the price drops then recovers as all the shares on the ask are swept up instantly.....

The problem he'll have selling is he can't do it on the sly without risking jail time. He'll have to file every time he sells until he drops below 5%.

Personally, I don't think he'll have that problem: I don't think he'll be able to sell at all.

I think he's a stuckholder unless some miracle happens and the Nigerians running the show decide to not take it all (assuming there is ever anything left to take).

Highly unlikely. Shorts would have covered Friday and Monday while the company was selling for cash. The buying now appears to be someone loading to either sell those cheap shares higher or take a long position knowing that there won't be any more dilution for several years, if ever again...

Certain daytrader groups like to take advantage of the low float. They've been hitting KAVL every couple of months. This is the third time in recent months.

Nothing wrong with that post. Different brokerages have different rules. Also, you may have done yours before some conditions changed.
And sometimes it depends on the size of the account being transferred and how badly they want your business.

He is correct that the brokers are liable since all erhe shares are held in street name other than those who have certificates.

IF there were to be a "short squeeze" after having seen a few of them over the years, imo it will not play out like some are dreaming. Wallstreet will take care of its own through trading halts, naked shorting, etc. If there are 10's of billions of dollars to be made they won't go to retail....

Since he needs shares, why doesn't he just do something worthwhile and take back the dividend shares that are cluttering our accounts?

Has anyone tried to have those removed? I personally don't consider them worth the phone call to the broker to find out if they can be sent to the cyber dump...

The simple answer for me about EO is that back in the day he was funding ERHC through notes, etc, then he STOPPED.

What's the old adage: Don't throw good money after bad???

Had he wanted control of ERHC he would have done it through convertible notes. He did not. End of story.

The immediate catalyst is day/swing traders. This was so deeply oversold and manipulated downward that most "longs" won't even break even until $20 even if they averaged down, so no resistance on top.

Then you have the possibility that the company is past the dilution phase to keep the doors open, so that selling pressure is gone and has probably been replaced with someone with deep pockets who converted a boatload of cheap shares at the bottom who are now wanting to make a killing.

The other thing that may be going on is I saw a mention not too long ago about the FDA lifting the menthol restrictions to buy votes for the upcoming election. Or there could be positive developments along those lines in the legal system that we don't know about yet but insiders do...

The most positive outcome would be for Oceanwide to go through with the bankruptcy and clear the unsupportable debt they incurred.

Then they can reorganize the profitable portions of the business under the new shell. They were doing ok before they expanded into other areas.

I see lots of information about partial payment on taxes due but NOTHING about bribery.

Talk about distorted logic to spin a tale. It's similar to the short sale logic.

Well, that shoots down my theory that Total cut out Kosmos. It looks like they TRIED to cut them out but lost.

The short excerpts that show up in my search engine indicate that after the legal victory Jon Cappon of Kosmos was working with STP to try and preserve/clarify those rights that Kosmos now controls. But all of that was 5 years ago.

It appears to be an ongoing battle, but I sure don't see ERHC shareholders being in a very good position. As has been pointed out, IF ERHC can manage to get anything at all out of this, the Nigerians who control the company will certainly be sure to skim any assets and steer them into their personal pockets.

And I've got my 3%.

To elaborate a little bit more:

Considering that the hugely redacted TOTAL agreement was entered into just a few days before the Kosmos lawsuit went to trial, I'm inclined to believe that TOTAL entered into that agreement not to make ERHC wealthy, but rather to keep Kosmos from getting a foot in the door. Kosmos probably would have prevailed in court against ERHC, but now TOTAL has been able to keep the door shut to BOTH Kosmos and ERHC. Once the option ERHC has with STP expires TOTAL can step in and deal directly with STP and cut ERHC out of the picture.

It's also quite possible that TOTAL encouraged STP to put the block up seeking interested parties so they would know what kind of competition they may have for the block...

I would expect similar tactics with the JDZ: ERHC will be cut off and shrivel up and blow away.

Of course he always wins. It's hard to lose when you can sell for a profit at any price, and then when you get low on shares just print some more...

At this point in time I just don't see ERHC getting anything for block 4 simply because there is not enough interest to have a bidding war with any kind of urgency. November is like tomorrow now, and any interested parties would just let the clock run out and then deal directly with STP. ERHC has been a thorn in the side for everyone and now they can get rid of them by just waiting a few more months.

As far as shorts go, the only shortage I see is between the ears of certain individuals who have nothing else to hold onto other than vain imaginations. Have a nice day.

It doesn't take a rocket scientist to know where the "extreme downward movement" is coming from.

Look at the chart and compare it with the effective date of the registration of the million dollars' worth of new shares that are being sold to pay for operations.

Buyers were warned both in the filings and on this message board.

So, "wizards" are going to do this so they can buy shares of ERHE?:

Determine your eligibility for citizenship. Before applying for Canadian citizenship, you should check if you are eligible to receive citizenship. To be eligible for Canadian citizenship, you must meet these conditions:
Age: You must be at least 18 years old to apply. If you are applying for a child under 18, you must be the child’s parent, adoptive parent or legal guardian, the child must be a permanent resident, and one parent must be a Canadian citizen or be applying to become a citizen at the same time.
Permanent Resident Status: You must have permanent resident status and must not have any unfulfilled conditions related to your status.[11] That means you are not under investigation, have not committed any crimes, or under a removal order. Fortunately, you don't need a PR card to apply for citizenship.
Time lived in Canada: After you have obtained permanent residency, you will have needed to be physically present in Canada for at least 1095 days (3 years) in the 5-year period before you apply for Canadian citizenship.[12] These conditions do not apply to children under 18 or certain Crown servants. Luckily, the government has provided a tool to help you find out if you have lived in Canada long enough.
Income tax filing: You must have met your personal income tax filing obligations for at least 3 of the last 5 years immediately before the date you apply for citizenship.
Intent to reside: You must declare your intent to reside during the citizenship application process. That means you intend to live in Canada, work outside Canada as a Crown servant, or live abroad with certain family members who are Crown servants.
Be able to speak English or French: You will need to send documents to prove that you can speak and listen in English or French. An officer during your application process will also evaluate your language skills. Being able to speak in English or French means you can take part in short, everyday conversations about common topics, understand simple instructions, questions and directions, use basic grammar, and know enough common words and phrases to answer questions and express yourself.
Know Canada well: You will need to take a citizenship test that tests your knowledge of Canada.[13] You will need to know Canada's history, values, institutions, and symbols. It is usually a written test but can sometimes be taken orally with an officer.
Prohibitions: If you have committed a crime, you are not eligible for citizenship for a period of time. That means you are not currently on parole or probation, you have not been convicted or indicted of any crimes, and you are not on trial or involved in an appeal of an offence.

Seems to me that's about as likely as $8/share...

So, "wizards" are going to do this so they can buy shares of ERHE?:

Determine your eligibility for citizenship. Before applying for Canadian citizenship, you should check if you are eligible to receive citizenship. To be eligible for Canadian citizenship, you must meet these conditions:
Age: You must be at least 18 years old to apply. If you are applying for a child under 18, you must be the child’s parent, adoptive parent or legal guardian, the child must be a permanent resident, and one parent must be a Canadian citizen or be applying to become a citizen at the same time.
Permanent Resident Status: You must have permanent resident status and must not have any unfulfilled conditions related to your status.[11] That means you are not under investigation, have not committed any crimes, or under a removal order. Fortunately, you don't need a PR card to apply for citizenship.
Time lived in Canada: After you have obtained permanent residency, you will have needed to be physically present in Canada for at least 1095 days (3 years) in the 5-year period before you apply for Canadian citizenship.[12] These conditions do not apply to children under 18 or certain Crown servants. Luckily, the government has provided a tool to help you find out if you have lived in Canada long enough.
Income tax filing: You must have met your personal income tax filing obligations for at least 3 of the last 5 years immediately before the date you apply for citizenship.
Intent to reside: You must declare your intent to reside during the citizenship application process. That means you intend to live in Canada, work outside Canada as a Crown servant, or live abroad with certain family members who are Crown servants.
Be able to speak English or French: You will need to send documents to prove that you can speak and listen in English or French. An officer during your application process will also evaluate your language skills. Being able to speak in English or French means you can take part in short, everyday conversations about common topics, understand simple instructions, questions and directions, use basic grammar, and know enough common words and phrases to answer questions and express yourself.
Know Canada well: You will need to take a citizenship test that tests your knowledge of Canada.[13] You will need to know Canada's history, values, institutions, and symbols. It is usually a written test but can sometimes be taken orally with an officer.
Prohibitions: If you have committed a crime, you are not eligible for citizenship for a period of time. That means you are not currently on parole or probation, you have not been convicted or indicted of any crimes, and you are not on trial or involved in an appeal of an offence.

Seems to me that's about as likely as $8/share...

There's definitely a connection, but just what the details are remain to be seen.

Undoubtedly the connection with JBZY has to do with future plans and not the past.

Fingers crossed....

https://www.bizapedia.com/ca/tohigh-construction-investment-llc.html

Some big spender just dropped $0.015 to show a gain of 9900% for the day. It must have been one of those panicked shorts covering his massive position...

You're just looking at it the wrong way:
There are many shorts here, riding the short bus...

What about the preferred shares? Doesn't the holder of those still control the "shareholder" vote, and thus what can be done?

You are correct. They can now begin selling the $1million+ shares to whoever is willing to buy them...

The way I see it is IF the one and only post by LBSR/IR is true and from Tracy, a crime/sec violation was committed. That post could have been made by anyone, but since the alias was created many years ago it does lend credence to it belonging to someone who has been following the board but not posting until now. It makes one wonder why the need to post now when the sp is rising vs during the days of billion dollar ore bodies just waiting to be scooped up and taken to market...

Stu won't be gone until his shares are gone, which will be some time after his death....

The latest S-1 explains most everything. Once a couple million dollars' worth of new shares start saturating the market the gloating will turn to moaning and complaining....

My .02: I agree with the facts presented by gitreal, and I think the future will show that the new "insider" take-over of the company is a ploy to get one more pay cycle out of this ticker for the insiders.

That being said, it could easily run to an exorbitant evaluation until the anticipated source of revenue is assayed and found to be wanting. There's no way I would hold waiting for the drilling results...

It looks to me like we should know in the next few days if the dilution is finished or if the seller is just waiting on a fresh batch of shares at very low prices...

I noticed the same thing: PPP loans were among the most frequently falsified in history. The news is full of companies and individuals who falsified their applications to line their pockets with the easy money.

I would have been disappointed in ERHE's ability to continue scamming had they missed that easy money.

I would even wager that Peter never bought any shares: that he falsified the filings to instill confidence in the sheep and provide a better market for the conversion shares...

Those class A shares he's buying have 200 votes each. He may be just taking shares as compensation for the interest on his convertible note rather than putting up cash, which could point to a take-over for personal gain...

I agree. That's why I jumped in. The difference between the .00029 and the .0003 is the broker's commission...

The way it works is when new shares are being added the selling broker shorts the shares and then covers the short position at a slightly discounted price to cover his commission on the sale. The 50M yesterday at .00029 would have been to cover 50M shorted at .0003 earlier in the day.

The 37k is the amount stated in the latest 10q. It is possible that there was a "subsequent event" that impacted that number, but I don't think it very likely since the company has been pretty good about disclosure. Also keep in mind that it takes more than 37k worth of stock sales to offset the 37k cash since the shares are issued at a discount to market and these guys also want to maximize profits. Either way, I think we're close to the end of the dilution.

GT? It's been a long time. Spell it out and help my memory...

Having lived in Africa for the past 2+ years in countries bordering Nigeria and the Gulf of Guinea I can assure you that most Africans don't even know what a share of a publicly traded company is, much less how to buy one.

I remember looking through the printed shareholder list at one of the shareholder meetings and seeing pages of names that appeared to be African who only owned 1 or 2 shares of ERHE, so some do know how to buy (unless they were gifted), but they sure didn't buy very many, and certainly not a grey sheets....