Ten2Ten,
If behind the scenes, the company has engaged in any practices that in effect have diluted shares, then it should report it publicly. I think the market has pressured the share price downwards, in the belief that this is what needs to be done. Confirmation of such would actually be positive, for it would let the market know that ERHE management is behaving in a responsible fashion to go forward as a fully functioning resource company. So yes, the raising of cash gives it legitimacy. In accessing any resource company you need to look at the debt load and money in the bank along with proven and probable resources. We have no proven resources, nor even probable, but only unconfirmed estimated, so then we must turn to debt and cash in bank. We have no debt, and as far as we know, no cash reserves. Getting cash reserves needs to be done now. But how? Using it's peers as a model, the market has determined that some form of share dilution must take place. Either by private placement or the issuance of new shares. Hopefully if they do a private placement, there we be no warrants issued, or very few with long term restrictions as to when they can be sold.
I've never liked the idea of selling a percentage of our resources to raise cash, while not technically hedging, it has the effect of hedging. If one thinks your company's product is only going up in value, why sell it at $50 a unit when by the time production starts, it could very well be worth $70 a unit, if not more?
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