ERHC Energy Inc (ERHE)

[TOB]

I’ve demonstrated conclusively in prior posts that the SP decline was entirely unrelated to the small sale that took place, indeed, we were at the placement price of .22 just days before the announcement, and before the dead cat rally that also preceded it , we spent a full month in a range of .195 to .245 That false rally had already seen two large legs down, and it made two attempts to pop before the third leg down. Right back to previous lows.

Indeed there was a pop to .28 and another to .27 just after the sale, demonstrating the market saw it as bullish, as did I and Strategyone.

The eventual decline below the logical support in the .20 area, was only breached almost two months later, 42 trading days in fact, demonstrating that it was entirely unrelated to the small private placement.

It also coincided with December, which has an annual low due to tax selling, and after two months of hysteria on this forum.
So there is no basis in this oft repeated meme that “the shelf caused the SP decline.” History has not shown you are right. Phase I extension, bio-gas only, and the annual December low explains the share price decline much more persuasively.

The extension of Phase 1 uncertainty explains the further decline after the December lows, and was even longer after the famous private placement.

It has also been over a year, so obviously management is not overly keen to sell shares at the current price and raise only a portion of the capital they are after.