ERHC Energy Inc (ERHE)

[kobiashi2000]

I disagree, the shares in question are the shares that Offor used to settle the lawsuit that FAB filed against him when he missed a payment on the line of credit that Chrome took out with the bank. When a bank takes collateral, it takes title to the collateral until the loan is paid off, that is why the shares are reported as owned by FAB and not Offor in the SEC filings. Do you really think that FAB would have wanted to hold those shares for the last 5 years, its a bank, a bank that was going under, FAB would have sold those shares as soon as they could if they were able to, FAB couldn't sell those shares because it was collateral and Offor was making payments on the loan so he was never in default and the bank couldn't sell, the only reason Offor doesn't have those shares back yet is because the Nigerian FDIC says Offor owes more to FAB then Offor says he still owes, and they're negotiating terms now.