ERHC Energy Inc (ERHE)

[DegenerateGambler]

Without getting into all the calculations of the so called toxic debt, I would like to keep it simple and take a broader look at ERHC's financial picture. The cash burn has been about a $1M every 3 months (since the company refuses to implement budget/salary cuts). Now drilling in Kenya is expected to start late 2015 or early 2016 at the cost of $30M. The important fact here is that ERHC is responsible for its share of that $30M. By my calculations (based on info from the 10K) that amounts to $30M x 0.35 x 0.25 or $2.625M. That bill is coming due in about a year. Where is that money.coming from??? If ERHC does not come up with the money to fund their portion of the drilling costs, would the drilling take place?

But most important where is that $2.62M coming from. Please don't tell me from more toxic debt. Please tell me the company's new financial advisor will come up with a solution that does not depress the share price down even further or dilutes the current shareholders into oblivion. (although I always wanted to know where oblivion was).
DeGen