ERHC Energy Inc (ERHE)

[ssc]

My example was $10 million, not $100 million. There are many reasons they might need that amount of capital or more long before they ever stike oil. Remember they were looking for $18 million in the failed offering.

Again, you are missing the point. This is not about short selling or convertible note holders trying to manipulate the share price. It is simply about the dilution that will accompany this type of fund raising and the obvious pressure it puts on the stock price. Time to face the very real possibility that 50% or more dilution is in the cards. Just do the math based on a conservative $10 million fund raise.