Addax Petroleum (fka AXC)

[Julius Erving]

Another rosy picture being painted here, as if litigation financing is a done deal. As usual, the reality of the situation, ie the real paradigm, is being overlooked. From the recent 8-K:

Quote:
As of the date of this statement, ERHC BVI is actively considering, directly and by the auspices of its said parent-company affiliate, ERHC Energy Inc., several financing options for continuing the arbitration, including but not limited to funding by litigation-finance firms. There is no guarantee however that any of such options will come to fruition.

If ERHC BVI is unable to continue to pay for its legal representation and associated huge legal costs and/or does not prevail in the arbitration, the inability would have a fundamentally material adverse effect on ERHC Energy Inc.’s and ERHC BVI’s prospects, financial condition and operations.

I agree with you SSC. Any minute spent on this company's problems is a minute lost! I will stop posting, it is in vain.

Agree?