Addax Petroleum (fka AXC)

[Julius Erving]

Troy,

On the bright side, Emeka Offor is publicly shown to be a Gelding, owned by Peter Ntephe.

How else can you describe the situation? The majority shareholder slaughtered by his own CEO and apparently incapable of responding.

Gelding fits. No testicles.

I can assure you ONE thing: that this conclusion is false.

But there must be another reason indeed that Offor went along in this scenario. Did they really didn't have other option to get funds? It is very likely that they did not, OTHER THAN OFFOR himself... so... it seems to be Offor's own choice.

Own choice not to participate in the rights offering, and (almost)not to offer additional funds later, instead of going the convertible debt route...

Or... was he a buyer on the open market last year?

The Doc.