Addax Petroleum (fka AXC)

[ssc]

Make no mistake about it, the reverse split is being done for one reason - to enable the issuing of additional dilutive shares. Whether a private placement, a partner, a strategic investor or more toxic debt, new dilutive shares will be issued and they will be issued at a discount to whatever the share price is at that time. With ERHC's balance sheet and the tremendous amount of capital required to prove its "valuable assets" actually have significant value, no one will be paying a premium to bale them out. jmho of course.