ERHC Energy Inc (ERHE)

[midtieroil]

This liability is 100% real and is payable immediately. ERHC took it to Tax Court and lost. The fact that it is old is irrelevant. Routinely during the audit taxpayers sign a waiver of the Statute of Limitations so they won't be assessed immediately. The audit finished, it went through the appeals process and then it was decided by the Tax Court. ERHC was assessed $2.7 million, they didn't pay so the IRS put a lien on their property. For once it couldn't be more clear or real.