ERHC Energy Inc (ERHE)

[Strategyone]

I agree whole heartedly with your comment that the selling of shares at .22 is a slap in the face of current shareholders. I believe that this will turn out to be quite the "gift" to the purchaser of those shares.

At least it was only $2 million and not the full $50 million they are approved to raise. I ended up selling a few of my shares, as I posted the other day, but I still maintain a substantial position here. I will be judging ERHE's timing of selling future shares in this same way.

On that note, I do think ERHE is planning on raising capital in spurts over time. I hope they learn from this lesson (shareholder disgust and a further dampening of the share price) and wait for some substantial positive news before the next sale.