Addax Petroleum (fka AXC)

[Julius Erving]

Parker,

Middy, I am is full agreement about many of your statements.
I believe most shareholders agree with you but few remain here as they have bailed because of the reasons you post (incompetent management in so many ways).
I agree this IRS situation where management failed to disclose YEARS ago is the most blatant violation of SEC rules to date. I agree there have been many other questionable times when management failed to disclose information when they should have. If those here that still believe completely in management, they need to wake up to reality and realize how outrageous what management did failing to disclose the IRS situation for months, and months and months and even years. Management had to know how this IRS thing was going to turn out for quite some time, but said NOTHING! In fact what they did disclose was actually deceitful, if not an outright lie. This IRS situation was not small potatoes, it involved millions of dollars, more than the company is now worth.
I agree that management should be informing the shareholders with an update on how this IRS thing is going to be paid or exactly what is going on at this moment.
I agree that management should be informing us with daily or weekly updates on the drilling progress, especially the funding of ERHC's share of the costs.

Who here disagrees with the above thoughts and why?
NOBODY should be defending management after this IRS screw up.
The thing that really puzzles me is why PN and SO were buying shares when they had to know about the IRS situation. The only reason that is possible, is they were doing it to keep their paychecks rolling in and did it to fool the market to believe they had confidence in the company.

If you come back and post... then first shape the !@#$% up.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=120931422

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=120960570

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=120722933

The Doc.