Kobi...Mongo has done a very good job of showing investors the ridiculous filings this company has made over the past few years. This is evidenced by the largest number of amended filings I have ever witnessed in any company. Perhaps the "good lawyering to allow for plenty of legal wiggle room" should have been reviewing filings all along??? or have they???
Basic business 101 keeps your number of O/S correct. It took shareholders to point out the error in this regard and sadly enough, it took many weeks for this to be corrected.
It took a month for the company to notify shareholders of a change in CEO. I have a problem with that. I have a problem with an 8K showing we received $1.35 million dollars in 11/05 but yet the filing shows this did not occur??? If the 8K was wrong (as Meridian suggests) why has it taken over a month now to amend???? That leaves shareholders in the dark with incorrect information.
When is the last time ERHC earned money??? 1997 or before??? Yet they don't believe its important enough to notify shareholders they received it?? Did they receive it??? How do we know?? Fact is....we don't, we can only ASSUME payment was made as scheduled. Its probably not a good idea to assume anything with this play as we've been proven wrong time and time again. That is fact.
As far as the information supplied to me as a shareholder, you're correct, they only notified us of the 60% interest with the consortium. They didn't break it down any further until the consortium's interest was lessened by 9% to a total of 51%. As a shareholder, I want to know where the other 9% went to OUR CONSORTIUM. After all, this is a loss of 15% or so the original filings ownership of interest.
As for reading the sec regulations in regards to disclosure...should a shareholder have to do this to keep this public company honest with its owners???
Kobi..I am big on this stock and fully plan to remain big on this stock. The assets are enormous IMHO. The company has furthered themselves throughout the play.....but I, for one, don't care for the lack of information presented to shareholders via SEC filings OR PR's.