ERHC Energy Inc (ERHE)

[Mongo1071]

One more thing Balance....

Since there is working capital of $827,453, then the monthly expenses should not exceed an average of about $68,954 per month, or an average of $206,863 a quarter.

The last 10K listed the following annual operating expenses
2000 - $1,958,880
2001 - $6,394,810
2002 - $4,084,210
2003 - $3,153,882
2004 - $3,757,185

Taking an average of the last 3 years gives equals about $3,665,092 per year. You and the company would have the shareholders believe that costs can be reduced from $3.6 million per year down to $.83 million per year at the time that the company is supposedly ramping up to finally do something? How can that be?

One more bone to pick....why did ERHE have to pay rent to share the offices with CHROME, and according to the 10Q, not a dime was paid by CHROME to rent the office space from EHRE? Sounds like a sweetheart deal at the expense of the shareholders yet again....

Mongrel