ERHC Energy Inc (ERHE)

[rocky822]

Well, in just trying to figure this out came across this. At least we know if anything happens, we should be made aware of it. Unless, of course, I'm misunderstanding the phrase "direct purchase".

Tender Offers
The Securities Exchange Act requires disclosure of important information by anyone seeking to acquire more than 5 percent of a company's securities by direct purchase or tender offer. Such an offer often is extended in an effort to gain control of the company. As with the proxy rules, this allows shareholders to make informed decisions on these critical corporate events.

http://sec.gov/about/laws.shtml#secact1933