ERHC Energy Inc (ERHE)

[midtieroil]

First, a Form 4 is registering purchases. There is no way one can spin that to mean anything else, no matter how hard one tries.

That is false. Any changes to the ownership of any shares of stock or derivatives such as options or warrants must be reported on a Form 4 by a reporting person no matter how they were acquired or how they were disposed of. It could be by gift, it could be by open market purchases, or it could be compensation in the form salary or benefits.

Second, when shares are given in lieu of salary, it is stated in the quarterly as required by auditors. Since purchases have been going on for multiple quarters, that speculation is proven wrong again.

False again. We know management was supposed to report the details of transactions with related parties like Chrome. Have they done so? Have they gagged the transfer agent? Have they omitted critical terms of the convertible debentures. Have they neglected to timely inform us of issuance of convertible debentures? Have they even been able to file the damn Form 4s on time? No they have not. Why in the world would anyone believe they would tell us about anything of importance ever and even if they do it will likely be months or years after the fact.

It's amazing how perfectly logical explanations like taking part of your salary in stock to conserve cash can be spun into something bad or something that is impossible while ridiculous theories like Kaboom are embraced like they are the gospel. I took off the rose-colored glasses a long time ago and now accept the reality of how things really are.