ERHC Energy Inc (ERHE)

[tryoty]

Dr. J, I don't disagree with what you are saying, however you need to do the math. Assuming the share price stays flat this week the next conversion will take place at 0.001

If the price stays at that level until the following conversion, that will occur at 0.0006 and a week later 0.0003.

ERHE will need roughly 6B shares to fulfill those conversions. Now assume the are no more convertible debt agreements going forward and Offor decides to convert his $250K

250,000 / 0.00018 (60% of .0003) is another 1.4B shares. Offor would have 1.7B shares with 7.5B outstanding. He is losing his share in that scenario, so either the price is going much lower so he converts to several billion shares (10B authorized???) or something has to prop up the price to keep the conversions from exponentially increasing the share count.

I agree that Offor can and will fund this through drilling. He would be crazy not to, but if the result is him owning 99 billion of the 100B shares outstanding by then, what's left for us retail bagholders? A commercial Kenya discovery would get the share price to a penny or two if we're lucky.

And keep in mind, 0.0001 is the lowest stock price possible. If it is allowed to hit that then a reverse split is the only option.

You could throw another $10K or more at this trying to keep up and find that it is worth $100 in a couple months. The only ones that will make money are those that can continue to throw money at it all the way down and then hope to God they find oil in that first well.

Are you feeling lucky?