You've now read that the creation of a direct financial obligation such as a convertible debenture requires disclosure on an 8K within 4 business days and must include the terms of the debt instrument. Obviously ERHC has not done that. What I am accusing them of is failure to disclose. Making matters even worse is that they did an 8k on the first group of debentures and then made a conscience decision to stop reporting them in that manner. Now, if a debenture was issued on April 1 we would not find out about it until August 14 when the next 10q comes out. That is four and a half months later.
Can you honestly say you don't have a problem with that since these debentures have already resulted in the issuance of about 2 billion additional shares.
I just want them to follow the laws on disclosure as they are written. I need that information to make my investment decisions. Is that too much to ask? If they have a valid reason for failure to disclose I'd love to hear it. I don't believe they have a valid reason.
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