ERHC Energy Inc (ERHE)

[tryoty]

"IMO once they burn thought their convert obligations"

That is the point I am trying to make, they don't have enough shares, even maxed out at 4 billion, to get through the conversion obligations in April.

They only have 3 options. Raise the authorized; reverse spilt; or buy back the debt to prevent conversion. I don't like the first two and the third is a loooong shot. Why would they have incurred the cost of selling the convertible Notes in the first place only to buy them back prior to conversion?

The only "good" scenario is a deal getting inked with Chad or the EEZ that gives them the money to buy back the debt, but then accusations would fly that exec's bought shares knowing that deal was coming, etc. and lawsuits would be filed.

It's most likely going to be a higher authorized or reverse split. The bottom line is anyone that can print money as fast as they print shares will make out fine if the Kenya well finds oil. Everyone else will be screwed and forgotten. This stock has always been about finding oil, the only new twist is now we are forced to throw more and more money at it to ever realize a gain.