ERHC Energy Inc (ERHE)

[midtieroil]

As I have said in the past, many of these CDs have a clause which requires the company to have authorized shares equal to 4-5 times the amount needed to to fulfill conversion at the current conversion price.

ERHC obviously does not have
that number of shares available. That could mean they are in technical default meaning all the CDs are convertible immediately. And. there could be penalties also. Chrome may be already converting their shares in which case the 3 billion share limit could be surpassed sooner rather than later.

My guess is the reverse split is either going happen any day now or it's already been done or they are going to wait until just after the 10q so they can hide the share count for 3 more months. Why else would they gag the t/a if they don't plan on going above 3 billion without telling us?


Usually these CD holders will work with the company because they want their money.