I'll make you a gentlemans wager Balance....
I'll bet that within the next three quarters, there will be additional financing or significant stock sales or both to fund operations. Heck if you read the most recent 10Q they are using lots of stock already...
"...Effective January 1, 2005 the Company entered into consulting agreements with two individuals, which requires payment of cash and the issuance of options for a total of 1,250,000 shares of common stock upon completion of a full year of service. These options have an exercise price of $0.20 per share and will vest immediately upon issuance and will have no expiration date. Either party may terminate these consulting agreements with 30 days notice. The options issued under these consulting agreements include provisions for cashless exercise...."
But, I'll be big about it and exclude those 1.25 million shares from our wager (I just love the 'cashless exercise' deal... somehow I get the feeling that it is related to the new offshore division and that a whole lot of the participants in ERHE are not American citizens and might not be 'keen' on US Taxes, but that's a whole different story.)
and on top of that let's not forget this little gem....
"...We believe it is likely that the financial
statement impact from the implementation of the requirements of SFAS No. 123(R) will significantly impact our future results of operations and we continue to evaluate it to determine the degree of significance..."
That's a catchy phrase..."significantly impact"
Anyhow..back to the wager..if I'm right you will banish yourself from this board forever...If your interpertation is correct and the company is accurate, then I will leave here never to return....
Care to take the bet?
Mongrel
