Addax Petroleum (fka AXC)

[Julius Erving]

ERHC has made it clear they will use toxic debt to survive and fight another day.

That is highly suggestive language.

If they get the cash they need in a non-toxic way I'll be happy to say I was wrong and, depending on the deal, will consider buying at that time.

Please consider, but don't consider to long at that time. Because the major problem with this strategy is: you will be late to the party.

On the moment the funding problem is solved, you pay a multiple of the current price.

That is the problem. If you gamble on not only a r/s, but also a (probable?) share price decline due to that r/s, you could fail.

Your strategy is, with what we know now, certainly not more likely than Strategy's.

You have to accept that your strategy is nothing more than a strategy.

Even Warren Buffet would go and sit in between, buying your way down, because it cannot be predicted what will happen.

And due to the fact that you are here on a daily basis posting about the superiority of you strategy, it is beyond doubt that investing in ERHC at some point in time is your goal. No doubt.

But like I said before, I think you have been a major buyer, despite what you claim your strategy is.

The Doc.