ERHC Energy Inc (ERHE)

[ssc]

Looking at that data, most of the volume occurred on 2 days. Excluding those 2 days, the total dollar volume shorted was about $1500. If you include those 2 days, the average daily dollar volume shorted for the last month was about $1,000. Not a whole lot to get excited about.

One explanation might be people shorting the .0003 level that was so often hyped via a circle of alternate truth, and then covering at .0001 or .0002.

The 2 high volume days are still a mystery. erhc still had 140 million shares to issue as of their last filing. Maybe they issued them to one of the outstanding toxic note holders who shorted at .0002 and used those newly issued shares to cover at a very small fraction of that price. Since erhc no longer reports, there is no way of knowing for sure, another reason the price is at .0001 bid.