First of all, in answer to amj who said:
"This article has nothing whatsoever to do with ERHC. You just took it upon yourself to post more bull. When you get concrete evidence of any wrongdoing, why don't you post that, that is the way it works. they have to prove something wrong was done, so you do the same. You must have a lot of time on your hands to come up with this one."
- WRONG, amj, it has everything to do with ERHE. Take the time to read it. Evidence of wrongdoing? That is what DOJ is doing right now, investigating. There are alleged improprieties, hence an investigation into the matter. HOPEFULLY, nothing will come of it. In the meantime, though, the stock is less than half its yearly high, and the 60% drop in share price coincided with the investigation. Additionally, I have seen many posts and articles of people that will stay out of owning ERHE until there is clarification. So it has everything to do with ERHE. I am actually amazed that your opinion is the opposite.
Now, in answer to rheddle:
I agree with most of what you state, rheddle. IMO, bribery was more than likely to have taken place, but it is less than likely to be proved. Whether it is proved or not, though, it still has had a negative effect on the stock price, and as the investigation is kept open, it will continue to do so. I agree that it is highly unlikely that they would have evidence of bribery in the Houston office, but I have seen stranger things. Let's just say that if they do have evidence of such in their offices, ERHE is being led by some really stupid people.
I don't think this is just about whether they find anything or prove anything. It can and has had a negative impact regardless. And the point of the article is that debt forgiveness and support from other countries is hurt by alleged corruption and it will cause harm to investment to the territory.
In direct answer to "does not bode well for ERHE", that is in direct relation to the current investigation, as well as public perception. Do outside investors (buyers of stock) want to buy into a company under investigation for bribery in Africa? The answer, IMO, is no. It is a negative. Perception carries a lot of weight, and it is not good for ERHE. If there was no worry from the investigation, the stock price would not have dropped like it did, and I stand by that statement.
Best of luck to you,
