And the alleged improprieties, as I understand, are between ERHE and the Nigerian Government. Do you not understand that? Payoffs for rights? Does this not make sense to you?
Nigeria is a small and very very poor country, if others want to make sure they are acting ina legitimate fashion, than there is nothing they will be able to do about it. It is that easy. Their statements are meant to say that they did nothing wrong, they are being defensive because they know it could be very bad for them. I would think you are bright enough to understand this.
The Nigerian Government would have no need to respond if they did not think there could be repurcussions. And of course they are going to deny it, just as payoffs are denied in the US before the person is proved wrong and goes to jail.
In addition to these points, it is likely the agreements have verbage covering illegal activities. Could you post a copy of the agreements if you have them? Anyone? It would be interesting to see what they say in there.
One thing is for sure, and MBA, keep putting your head in the sand about it.... This stock is cut in half since the improprieties were alleged and the offices were raided. Other investors were smart enough to know this could cost ERHE their business and chose not to risk anymore and get out. ERHE was brutally affected by this scandal for good reason, and to act like it is not a negative or could not further effect this stock price is ignorant, and that is being nice. It is very possible, even very likely, that ERHE will suffer extreme consequences and the stock will go down even more than the 50% since this happened.
Keep your head in the sand all you want MBA, but the stock price since that time tells the true story.
