Friday, October 04, 2024 12:15:14 AM
Ssc,
You can start your research with this link:
https://www.erhc.com/news/erhc-energy-issues-convertible-note-to-the-chrome-group/
SSC, it seems you’re still struggling with what constitutes fact versus speculation. Let me address your questions and claims one by one, since you seem to continuously overlook key information while fixating on trying to discredit my statements.
1. Offor’s Convertible Debt: We’ve discussed Offor's convertible debt before, and if you don’t remember or can’t find it, feel free to spend some time in the SEC filings and look for it yourself. I’m not your employee, and I’m certainly not hired to do your research for you. ERHC didn’t have the funds to allow Offor’s debt to mature, which is why his convertible debt was converted into shares. While we don’t have direct knowledge that Offor bought shares during the gag order—because of the gag order itself—it’s reasonable to think he did. As one of the architects of the EEZ and JDZ and the founder of ERHC, it would be absurd to assume he would allow his shares to be diluted to oblivion without doing anything about it. His convertible debt conversion certainly means he was partially made whole by receiving shares.
2. Share Dilution and Reverse Split: Yes, the 1:100 reverse split affected shareholders, but Chrome’s position is not something to be brushed off as "decimated." If you understood convertible debt, you'd know that it often protects certain shareholders during such events. Chrome owned shares both pre-split and post-split, and the level of ownership post-split remains significant. You are too quick to assume that a reverse split means their stake became insignificant—quite the contrary.
3. T+3 and Short Squeeze: Regarding the short squeeze and margin calls, you’re right that no one except the short sellers knows the exact average margin price for their positions. However, in the case of a buyout or dividend event, the buyout price or dividend amount will most likely be above the margin call price, meaning it will trigger margin calls and force the covering of short positions. In that scenario, there won't be as much guesswork involved—short sellers will have no choice but to cover, which could lead to significant price movement.
4. The Alleged Absence of Short Shares: It’s interesting how you remain adamant that no short positions exist, despite clear evidence that manipulation tactics, including short-selling, are a tool used to suppress penny stocks like ERHC. The absence of formal reporting of these shorts doesn't equate to their non-existence. A tactic that is common in smaller markets is to use Canadian brokers to hide such positions, something you seem conveniently unaware of.
5. William of Occam: Since you brought up Occam’s Razor, let’s use it. The simplest explanation here is that ERHC’s assets are undervalued due to a long period of stock suppression, driven in part by convertible debt dilution and short-selling tactics. Offor and his entities—ERHC, Chrome, and Starcrest—are all strategically aligned, with Offor consolidating assets and potentially preparing for an exit through a merger or buyout with a major oil player. These are facts grounded in filings, corporate behavior, and market conditions.
Instead of constantly accusing me of lying or speculating, maybe take a moment to read the filings and understand the nature of convertible debt and corporate strategy. Everything I’ve stated can be backed by publicly available information, but I’m not here to spoon-feed it to you.
Until you’re willing to actually engage with the facts, your arguments are just noise.
Krombacher
You can start your research with this link:
https://www.erhc.com/news/erhc-energy-issues-convertible-note-to-the-chrome-group/
SSC, it seems you’re still struggling with what constitutes fact versus speculation. Let me address your questions and claims one by one, since you seem to continuously overlook key information while fixating on trying to discredit my statements.
1. Offor’s Convertible Debt: We’ve discussed Offor's convertible debt before, and if you don’t remember or can’t find it, feel free to spend some time in the SEC filings and look for it yourself. I’m not your employee, and I’m certainly not hired to do your research for you. ERHC didn’t have the funds to allow Offor’s debt to mature, which is why his convertible debt was converted into shares. While we don’t have direct knowledge that Offor bought shares during the gag order—because of the gag order itself—it’s reasonable to think he did. As one of the architects of the EEZ and JDZ and the founder of ERHC, it would be absurd to assume he would allow his shares to be diluted to oblivion without doing anything about it. His convertible debt conversion certainly means he was partially made whole by receiving shares.
2. Share Dilution and Reverse Split: Yes, the 1:100 reverse split affected shareholders, but Chrome’s position is not something to be brushed off as "decimated." If you understood convertible debt, you'd know that it often protects certain shareholders during such events. Chrome owned shares both pre-split and post-split, and the level of ownership post-split remains significant. You are too quick to assume that a reverse split means their stake became insignificant—quite the contrary.
3. T+3 and Short Squeeze: Regarding the short squeeze and margin calls, you’re right that no one except the short sellers knows the exact average margin price for their positions. However, in the case of a buyout or dividend event, the buyout price or dividend amount will most likely be above the margin call price, meaning it will trigger margin calls and force the covering of short positions. In that scenario, there won't be as much guesswork involved—short sellers will have no choice but to cover, which could lead to significant price movement.
4. The Alleged Absence of Short Shares: It’s interesting how you remain adamant that no short positions exist, despite clear evidence that manipulation tactics, including short-selling, are a tool used to suppress penny stocks like ERHC. The absence of formal reporting of these shorts doesn't equate to their non-existence. A tactic that is common in smaller markets is to use Canadian brokers to hide such positions, something you seem conveniently unaware of.
5. William of Occam: Since you brought up Occam’s Razor, let’s use it. The simplest explanation here is that ERHC’s assets are undervalued due to a long period of stock suppression, driven in part by convertible debt dilution and short-selling tactics. Offor and his entities—ERHC, Chrome, and Starcrest—are all strategically aligned, with Offor consolidating assets and potentially preparing for an exit through a merger or buyout with a major oil player. These are facts grounded in filings, corporate behavior, and market conditions.
Instead of constantly accusing me of lying or speculating, maybe take a moment to read the filings and understand the nature of convertible debt and corporate strategy. Everything I’ve stated can be backed by publicly available information, but I’m not here to spoon-feed it to you.
Until you’re willing to actually engage with the facts, your arguments are just noise.
Krombacher
