He has a little over 300 mill now. so if he takes his 100 mill he can buy and let's say slightly over another 100mill, he would have that control. they are issuing 246 mill roughly, so I don't know of anyone who is willing to participate, they have to sell 146 mill to the rest of the shareholder's, I can't see that happening. I was thinking they would put out more information in the pr, like who is the backstop, a financial institution, etc. Potential partner? anything that would make an investor feel good about this possible fund raise. guess we will have to wait until January 31st to see if they get it done, so dead till then at any rate.
Or whoever bought the bank shares of 60 million could come into play, but erhc has decided that was not material along with most events. that person(s) could buy 20 million and Offor could buy 100 mill, that leaves about 126 million that the other stockholder's have to buy. Imo, it is about this super control or they just will fail. We shall see if Offor believes in erhc.
If they fail, they lose the concessions and I think the jdz and eez rights revert back to the partners then back to the countries if the partners don't pony up, they put them up for bid, if there are any bidders, that could be interesting.
But of course, erhc has done all they could do, NOT.
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