ERHC Energy Inc (ERHE)

[tryoty]

500M shares have traded over the last month...



Assuming virtually all of them were newly printed, ERHE's float is roughly 1.3B shares now. The notes eligible for conversion in April should bring the float up to 1.4B. When Offor converts, let's say at around 0.001, he'll pick up 250M shares and the float will grow to 1.65B.

Offor would own 554M shares out of 1.65B, or 33%. If Offor converts at 0.0005 he retains 43% ownership. If you are in the camp that believes Offor will retain his piece of the pie there are only two possibilities; either Offor is planning to provide more funding, or he is waiting for a conversion at 0.0005.