Addax Petroleum (fka AXC)

[ssc]

Interesting advice, though wasted on me since I own no shares. I would not recommend buying or selling until after the reverse split and the 10-K that should follow it. Hopefully ERHC will disclose how much in convertible notes is still outstanding and eligible for conversion, and how much cash was received from the Kosmos deal. If they do that, it will be easier to gauge how much additional toxic dilution will be coming and how much additional cash needs to be raised to meet its commitments for drilling. At that point a more informed buy/sell decision can be made and the value of your advice should become more clear.

By the way, in addition to your advice not to sell here are you also recommending buying at these levels?