FWIW, i have not yet had any e-mail contact with Merdian (to date), I do not know him and have never seen him or spoken to him on the phone. It appears he is not able to post on I-hub anymore. I wrote this following post yesterday but did not send it. Just so people don't start forming conspiracy theories keep some things in mind: I did pay for a subscription for Meridian at a time when many people were happy to see him post but disappointed at seeing his 15th post come. I figured I'd send him a gift subscription, which I did, and I also told him he did not owe me anything for it and I expected nothing from him. He could post or not post as he saw fit. Anyone who wants to go back and re-read the posts from those days making up about three weeks from the end of Feb. to the middle of March will see how different things were then, and they might find it instructive now that a small percentage of people have now effectively banned from posting the ONLY poster on I-Hub who was in attendance at the PSC signings.
Written yesterday, take it for what it's worth...
Regarding the message Nightcrawler posted...I don't know why we would be hitting new lows? Warrant/investigation, late filings, Offor sells out for 20 cents per share[LOL]? I suppose it depends on from when you count the low; new lows from three years ago would be rather bleak. Even a new 52 week low would be extremely unpleasant. I don't see how that could happen but I never thought we'd see .60s again either [.50s today]. I suspect he meant new lows compared to now but have no way to know since he's been banished.
As for the why? I saw a post of his here on Friday that said the 10Q would not be on time. That was deleted. He posted that again yesterday on the other board. I have read 99% of every post on this board for months, and since Meridian started posting. I happen to think he knows things and is connected in a way no other poster has been connected and has been willing to share what info they have. I think he has a way of sharing info that comes across as both cryptic and harsh at times. I also think he is limited in what he can say and the little bits he gives out are hard to understand and follow, as many here will agree.
IMHO, in reading all of his posts, most of which are responses to comments or questions, is that he is shareholder friendly but also realistic. If you follow the things he has said it's pretty obvious he does not like the new BOD members (it does not follow from that he is anti ERHC). Based on his comments yesterday on the other board he seems to think the reason the 10Q is late and will be late again is due to the new VP of finance. I had to go back and read the PR that announced the new BOD members to figure out who it was. Is it true? Why would Offor appoint a VP of finance who didn't know how to fill out a 10Q? Did he? I've never filled one out myself but how hard can it be for a company that has no operations in the quarter and has income to report (or sale of assets?)? Like Walldog said they've had 40 days to think about it.
I do not know what's going on and have no more verifiable, factual information than anyone else who has been following along here. After going all the way back to when meridian first started posting and drawing inferences from those postings, these are my comments...
When he first came to I-Hub he appeared to have a positive and energized outlook for ERHC going forward. (At first I pegged him as a basher.) Weeks after the PSCs were signed his outlook changed somewhat. If you go back and read the posts it's clear he does not like the change in the BOD. Many posters assumed that it was because he didn't get on the BOD and now he's going to bash. What if it was because he thought the new BOD members were not helpful to what he thought the goal was--build an oil comapny--or they would not be friends of the small shareholders? His question was, why appoint new directors who know nothing about the oil business. Why Nigerians, specifically? Those seemed like a logical questions to me? Does anyone know besides Offor?
As I recall, shortly after the PSC signings Meridian said there would probably be a road show to help promote the company (and, hence, the stock). If anybody wants to go back and re-read some of the earlier Meridian posts they will conclude that he knew what was going on back then (remember, he was at the PSC signings). What happened to the road show? When I asked the other day what he thought the company could/should do to get the stock properly in line with it's value (which he said is not "aligned"), he listed the road show as one of the items. So, if there was previously talk of a road show by the company, what changes have taken place that made the road show a bad idea? what has been its effect?
I could go on, but the point is this...I think Meridian, for whatever reason, did not like the direction the company appeared (to him) to be taking once the PSCs were signed. To get the idea of what that means look at what is being argued about today--low stock price, no info from company, late 10Q, no apparent attempt to support the stock. I don't think you can count the search warrant business because I can't believe they knew in advance that was coming (though some here probably did know). So, what happened within the company to change what he obviously thought was going to be happening. The most obvious thing to me is the BOD changes and the complete silence from ERHC.
I think meridian is shareholder friendly, but not friendly to the flippers and manipulators. IMHO that was his motive for squelching the $20, $50, $70 per share talk some time back. If you look at his comments with an open mind you'll see his is a long term outlook, not a $5 tomorrow outlook. That was not easily tolerated here. I didn't like hearing it myself since i had come to "beleive" like many that would/could happen. I still want to believe it. But does anyone really think a $5 stock can stay under a dollar for very long in an open market? Meridian has said multiple times the stock should be $2-$3 by now. He was put on the rack for that because he suggested that would be it's value for the next 18 months or so, until ERHC starts acquiring other assets and becomes an operating oil company.
If anyone had come on this board two years ago and said the stock would be under a dollar in May of 2006 they would have been run off the board as a basher. Meridian said $2-$3 now, and for the next 18 months, and he got run off. All those who are in favor of a 60 cent stock versus a $2.50 stock raise their hands. Do people really think that saying a stock should be $2-$3 is reverse pschology aimed at getting shareholders expecting $10 to sell?
Makes you wonder about people.
P.S. I don't know what he meant by his jailhouse comment to me regarding "new lows". Here is what i'm going to focus on..."bumpy ride"?--we already know what that's like and most have gotten used to it. If you take stock in his seemingly negative comments, don't forget the positive one where he said "IMO, a buying opportunity" or words to that effect. Give it a year? After 3 1/2 years what's one more year, more or less?
Good luck to all.
Like Forrest Gump said, that's all I have to say about that.
