ERHC Energy Inc (ERHE)

[bayfisherii]

AMJ,

Do you think the Bank Shares could be a shell for SEO, which would have efffectively given him 50.7% of ERHC?

And if to get a deal done SEO had to give up enough shares to reduce his ownership below 50% then dilution would have been the better method for SEO.

If he had gone to the market and sold he would have collapsed the share price. Using dilution (16 million shares)he can hand out a sweetheart deal and still reduce his owneship to just under 50% (or 49.7%)

This is just fabrication on my part, not sure if any of this makes any sense.

Can anyone think of a reason why SEO would need to dilute his ownership percentage

Bay