Addax Petroleum (fka AXC)

[Julius Erving]

I thought that IRS thingy is not a problem?

"This restatement is necessitated by the Internal Revenue Service disallowing certain deductions on ERHC’s 2006 tax return. The disallowance resulted from stock based compensation expense that the Company had recognized as a deductible expense in its 2006 tax return. The disallowance was the outcome of an Internal Revenue Service audit of ERHC’s 2006 return, which audit lasted nearly seven years and has been previously disclosed. As such, the consolidated financial statements for the years ended September 30, 2015 and 2014 are in the process of being restated to properly reflect the tax liabilities that should have been recorded in 2006."

And third party people are responsible for any 'wrongdoing' or errors in the filing, right?