ERHC Energy Inc (ERHE)

[nordicroots]

A small bio tech company called Tengion (TNGNQ) just went BK when shareholders refused to support further share dilution as they were seeking funding to get them through Phase II trials. A very promising use of stem cells and the company was even profiled on 60 minutes (go to YouTube "Growing Body Parts" if interested) yet the shareholders refused to play ball with mgmt and they closed their doors. Not sure what happened to the intellectual property (patents and models) but I suspect they are all being liquidated and sold to the highest bidder. Which means that all those patents they have will be scooped up by someone else so they can do something with them. Same sort of scenario is possible here just substitute the patent portfolio TNGNQ had for the blocks and acreage EHRE has. I hope that is not the case here but who knows? We will see how it plays out. I think they should have done an unbrokered private placement instead of using the loan sharks they did here with the Convertible Debentures.