ERHC Energy Inc (ERHE)

[tryoty]

Assuming 2B shares out (it may be higher, meaning Offor owns even less)... 300,000,000 / 2,000,000,000 = 15%

Offor hasn't filed, so he hasn't bought any himself. I know you think Offor could have people buy 4.99% without reporting and they vote according to his wishes, but that isn't realistic. I would be ecstatic if Offor could maintain his control *without* a reverse split and dilution that eliminates us and our piece of the pie.

I really only see Offor keeping his control by wiping us out and I don't like it. I think it is illegal for Ntephe to systematically destroy the retail investor the way he is. Wave after wave of convertible debt, all at 60% of market. The last 10 months were DESIGNED to obliterate the share price. All that's left to wipe us out is a huge 1 for 500 reverse and then a convertible note to Offor for $2M. Offor's conversion would net him north of 85% of the company and we would hold current shares / 500 out of a company with roughly 35M out.

Look at it this way... if they did the above the share price would be 0.25 post split and fall to 12-13 cents almost immediately. A $2M note to Offor at 60% of market would net him 25-30M *new* shares. That 15 BILLION "current" shares adjusted for the split.

I hope your 11 are all they need plays out, because we're screwed if they split and dilute.