ERHC Energy Inc (ERHE)

[rocky822]

Mrogop: Rule 144 seems to only apply to public sale, not private:

"Many also don't realize that, with the exception of subsection (k), Rule 144 is used only for "public sales." Where the owner of a controlling block of stock in a public company negotiates a private sale of his entire block with a buyer, the Rule does not come into play. In that event the buyer, who must have access to adequate information about the issuer and qualify as a "sophisticated investor," would receive restricted shares, since they would be acquired in a transaction not involving a public offering."

http://www.feinberglawgroup.com/Rule144.htm