ERHC Energy Inc (ERHE)

[kingpindg]

Notes were convertible at various discounts to share price (i.e. toxic) but there when the authorized shares became essentially maxed out years ago, a few note holders were left with worthless paper. One note holder did sue but only received a small portion of what they were asking for because the judge said they knew, or should have known, that they were making a risky investment. That is my recollection, at least.
It could be possible that some of the note holders still hold shares and could be unloading at any opportunity in order to recoup something.

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