Addax Petroleum (fka AXC)

[midtieroil]

There may be 2500 shareholders of ERHC but it seems to me that about 2000 of them aren't selling only because the value of the shares is less than the commission cost to sell those shares. On a split adjusted basis the share price went from $90 to .0001 due to the issuance of 300 billion split-adjusted shares.

Everyone that bought prior to the 1:100 reverse split has worthless shares. And almost everbody who bought after the reverse split has worthless shares too. Even if you own 1,000,000 shares, they are only worth $100. Less commission. I feel really sorry for anyone that has that many shares.

Anyone pointing out the number of shareholders as a reason for owning ERHC shares now really must be lacking any good argument to buy.