Replies to post #303227 on ERHC Energy Inc (ERHE)

[2IRAs]

I think the note hasn't been converted to shares yet based on shares outstanding and various poster's views that 1.3 million is surprisingly low and not near the 3 million available:

"The number of shares of common stock, par value $0.0001 per share, outstanding as of April 30, 2015, was 1,339,487,881."

I do think it's likely the note was issued for $250,000. So either they didn't convert yet because it's too early or because they think the price is going lower. My hope is they aren't allowed to convert yet, not that they think the price is going lower.

[midtieroil]

There is still at least 808 thousand of debenture face value and 56,000 of interest that has not been converted into shares. At current conversion rates those debentures alone could easily amount to well over 3 billion additional shares. And there could be even more. I'm not sure there is any reason to believe more debentures weren't issued in April and May since the last month when no debentures were issued was in March of 2014. We now know debentures have been issued every month for 12 straight months.

We also know that Chrome has not filed a Form 4 for any shares they may have acquired from conversion of their debenture.

We also know that ERHC failed to report the Creation of a Direct Financial Obligation when many of the debentures were entered into. This should have required an 8K but this was not done except for the first set of debentures.

Those are the specific failure to disclose rules I am referring to. Anyone care to refute any of that?