ERHC Energy Inc (ERHE)

[TheDane]

The other problem with the plan is the limit of authorized shares at 1 Billion. As I mentioned last week if they finish the remaining $46 million at or just above .18 the authorized shares out will be near a billion. Then what? Unless there is some really good news coming how will they keep the price of the stock above the mid twenties when we have this Damocles Sword called the $50 million shelf registration hanging over the stock?

If one believes they are really going for an aquisition then one has to believe them when they say $50 million will be raised, which they have already publically indicated they plan to do.