ERHC Energy Inc (ERHE)

[Spec29]

I don't know how many investors realize it...

but that suit is a good thing for all non-Offor investors. Especially if he was thinking of trying to gain control of 70% of the stock!

I don't know how that 70% was going to be obtained because there is not enough unissued shares for Offor to reach that percentage. The total authorized shares for ERHC is 900 million shares if I remember correctly.

With Offor currently owning ~310 million shares, the additional 185 million shares yet to be issued would only (LOL) give Offor ~57% of authorized, issued and outstanding shares.

I really don't care if Offor buys the 185 million unissued shares. I won't be buying 'em anytime soon. I expect him to pay the market price, also. If he wants to trade assets, stock for Starcrest, Starcrest should be valued just as ERHC is valued now. Based on the difference in participation interests between Starcrest and ERHC, Starcrest ain't worth that much currently.

All current shareholders would have the pre-emptive rights on any new shares authorized.

He can't get there with a stock split, either!