ERHC Energy Inc (ERHE)

[Krombacher]

The $250,000 is Offor's and that will likely NOT be sold. Hence no problem there. I also doubt that Offor will convert his shares because with the shares authorized set at 3 billion, he probably can't and will either have to wait for an R/S or an increase in authorized shares for which no vote has been thus far scheduled.

I'm sure Offor doesn't want just principal and interest, especially if the Company can't pay it and may default. Hence, he will likely have to wait and see if the share price recovers and convert at a higher price.

As for the $53,500, that's peanuts. Even at .00024, which by the way may not be accurate since you are basing it off of criteria that may or may not be in the debt covenants, amounts to about 222 million shares. No where close to a billion or more.

Krombacher