Monday, November 20, 2017 5:57:55 PM
Also the 1:100 reverse split ocurred on 1\15\2016 I believe. ERHC burned through all 3 billion of those shares quickly and still have more toxic convertible shares outstanding that are in default and that, at current prices, would require billions of more shares to pay them off. No attempt has been made to authorize any more shares to pay them off.
In addition, ERHC owes about 10 million to CEPSA for the last well drilled and they are delinquent on that as well. ERHC has only a couple hundred thousand in cash remaining.
And if that isn't bad enough, ERHC owes the IRS 2.7 million that they can't pay either. The IRS has filed a lien in Harris County, Texas on their assets.
That's about all I know. If you have more questions I'll try to answer them.
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