Replies to post #6358 on Addax Petroleum (fka AXC)

[ssc]

Acknowledging that legacy shareholders "WILL NEVER GET THEIR MONEY BACK EVER!" proves that the financing was indeed toxic. The truth is if such toxic financing continues once the share count is reset and Ntephe finds himself with 2.97 billion shares available to be issued, those who own shares even at these low prices could also become legacy shareholders.

Unless one puts his faith in things like big jane rumors and kaboom kapers, there is absolutely no indication that any vehicle other than convertible notes or highly dilutive shell company maneuvering is available to ERHC. As Ntephe stated in the most recent shareholder update:

Junior exploration companies, including ERHC, have found it quite challenging to raise exploration funding through traditional and preferable means, such as farmouts, in the current environment.

[lovemelongtime]

That way at least you set yourself up to make some decent profit at even a cent or two, if I didn't average down I probably would have given up or wrote off this investment, hec even PN and SO listened to your plan about delusion insurance and bought millions as we did.