ERHC Energy Inc (ERHE)

[tryoty]

I'm not sure the spreadsheet would help, but it can't hurt. Offor either supports Ntephe's actions that are running ERHC Energy into the ground or he doesn't. The next AGM vote should provide the answer.

There is simply no excuse to destroy $100 MILLION in market cap to raise a useless $1.8M. Look, ERHE's share price has been to 0.90 and it has been to 0.11, I can live with that, penny stock volatility is normal. What I am not comfortable with is what *appears* to be management acting in a manner that harms shareholders by entering a side deal *which appears* to be a payoff to someone for something. The Self Registration (intended Freudian) is a liability that can come back and bite us years down the road. Until this is fully investigated and explained there will be a cloud over this stock.

Who got the gift of 10M shares? Until management comes clean and explains that they will always have a cloud over their heads. The cost to shareholders for that financing was $10,000 for every $180 the company raised. Anyone not enraged about that is a trader that was lucky enough to be out of the stock at the time. Instead of justifying why it was needed by explaining what it was for, since the company has $17M in the bank, Ntephe is hiding under his desk refusing to answer a very simple question.

Who was the gift that wiped out a third of the company for?

I want an investigation into who got those shares. It cost shareholders a LOT... wiping out a third of the company's market cap, it wasn't necessary, and it needs to be FULLY explained.