JDZ Nigeria-Sao Tome e Principe

[pinecat]

Deleted posts on ihub ERHE, mongo's then mine.

Posted by: Mongo1071
In reply to: None
Date:6/3/2006 8:12:23 PM
Post #of 57396

OT: Who's minding the store now? Who's shift is it?

http://www.sec.gov/Archives/edgar/data/799235/000114420406021834/v043939_10q.txt

Page 14

".....The Company's Chief Executive Officer and Chief
Financial Officer have concluded that as a result of the material weaknesses, as of the end of the period covered by this Quarterly Report on Form 10-Q, the Company's disclosure controls and procedures were not effective..."

Happy Moderating

Mongrel

And pinecat's response:

The Company has now perfected its interests in the JDZ and is poised for full
operations. Accordingly, the Company has made changes to its staff to add the
skills necessary to achieve full operations.

Internal Controls Surrounding Corporate Governance:

As of September 30, 2005, the principal factors contributing to the material
weakness in corporate governance were as follows:

|X| Inadequate number of independent directors.
|X| Lack of independent audit committee.
|X| Lack of audit committee financial expert.

If these weaknesses were not addressed, they could result in material
misstatements of annual or interim financial statements that might not be
detected, corrected or disclosed in a timely manner, or at all.

Following the recognition of the above material weaknesses above, the Company in
the first and second quarter of 2006, appointed:

|X| Additional independent directors
|X| Additional independent directors as members of the audit committee
|X| A financial expert as a director and as a member of the audit committee