ERHC Energy Inc (ERHE)

[tryoty]

I don't think that's the right conclusion. The way I read it is this... If I own 3 shares in account "A" and 6 shares in account "B", my rights are for 1 share in account "A" and 2 shares in account "B". If I only fund account "A" and purchase my 1 share, then I qualify to the oversubscription to the extent that I participated through that account.

In other words, if 100 investors fully subscribe in at least 1 account, those 100 investors will split the oversubscription based on their percentage buyin to the first offering.

In the first round we all have the option to buy 1 for every 3 owned, it is "prorated" based on each investors equity in the company. In the second round the oversubscription rights will be prorated based on each investors "equity" in the first offering.

If 100 investors fully participate, and Offor is one of them (he will be), then the other 99 investors will likely represent a fraction of a percent (combined) of the offering. They will be allowed to oversubscribe for that fraction of a percent of the oversubscription shares.

This is a tough thing to put into words! LOL!