ERHC Energy Inc (ERHE)

[ssc]

With the massive dilution and extremely weak cash position, ERHC shares look primed to hit triple zeros soon. After reaching its 3 billion authorized share limit and recently doing a 1:100 reverse split that reduced the shares outstanding to 30 million, the share count is rising again to well over 100 million and counting as the company continues to issue toxic convertible notes. Of course they left the authorized at 3 billion after the r/s.

This week another one of those notes became eligible for conversion at a share price of .00055 which equates to 100 million new, dilutive shares all by itself. Potential investors should read the company's latest 10-Q filing for the facts and weigh them against the false info being posted.