ERHC Energy Inc (ERHE)

[Krombacher]

If we back calculate from the estimated $1.6 million of revenue needed to cover annual payroll and when we realize that PPP caps individual payroll reimbursement to $100k when annualized, that suggests that you need at least 16 employees, assuming they all made $100k and obviously many of them make less than that so we're estimating far in excess of 16 employees.

That means many employees don't have LinkedIn profiles or have their profiles hidden... and the number of employees at ERHC is greater than just 8 employees as depicted by LinkedIn.

The above of course is speculation but again as always is based on a fact pattern and with the use of logical reasoning and deduction clearly presented above.

Nevertheless, it's remarkable that not one of the 8 employees on LinkedIn bothered to update their profile to new employment given the short seller's narrative that the company is about to go broke as it potentially loses all of its assets. Clearly, therefore, the short seller narrative is flawed.

Krombacher