ERHC Energy Inc (ERHE)

[ssc]

erhc got the loan back in May of last year. Not exactly an historic event. But it is interesting to see that even though erhe shares can be purchased, the price remains near zero and volume (a $22 purchase notwithstanding) remains near zero in spite of all the so-called checkmates regarding known information regarding any potential deals.

If even a fraction of all the bullish bullshit was true, where are all the buyers? Even supposed believers haven't been willing to pay more than 1/10 of a penny for over 3 years and counting.

Regarding the 1 5% or more owner and all those who claim to be but refuse to file required SEC disclosure documents, here's another look at the SEC regulations:

Beneficial ownership reports

If your company has registered a class of its equity securities under the Exchange Act, shareholders who acquire more than 5% of the outstanding shares of that class must file beneficial owner reports on Schedule 13D or 13G until their holdings drop below 5%. These filings contain background information about the shareholders who file them as well as their investment intentions, providing investors and the company with information about accumulations of securities that may potentially change or influence company management and policies.

Transaction reporting by officers, directors and 10% shareholders

Section 16 of the Exchange Act applies to an SEC reporting company's directors and officers, as well as shareholders who own more than 10% of a class of the company's equity securities registered under the Exchange Act. The rules under Section 16 require these “insiders” to report most of their transactions involving the company's equity securities to the SEC within two business days on Forms 3, 4 or 5.