ERHC Energy Inc (ERHE)

[Strategyone]

Even scarier numbers:

ERHC has 2.3 cents per share of cash in the bank. In addition to that ERHC is sitting on a net loss to date of $77+ million which if rolled (via merger/buyout/reverse buyout) into a profitable entity, in a 34% corporate tax bracket this is equivalent to another 3.5 cents per share.

To use your phrase.... that means this management team has convinced the market that its assets in total are worth (a maximum) of 3 cents per share.


This argument alone screams that someone should be held more accountable than they have been to this point.