How much does the IRS lien change the ballgame? First, what is the lien on? Is it on ERHC's bank account or is it on their oil and gas assets or is it on both? How does the lien affect ERHC's ability to raise capital? Will any CDs or stock be able to be sold knowing that any proceeds from the sale may need to go directly to the IRS? Does ERHC even have enough cash to pay the next cash call knowing that their bank account might be frozen by the IRS. Can ERHC do a farm out while this lien is in effect? Once again we have far more questions than answers.
I have been disappointed in ERHC for a long time but now I am mad. It's one thing to not know what you are doing and another thing to deliberately hide the results of an IRS audit for years while issuing stock, while issuing debentures and while trying to attract investors who were not informed of material facts.
Maybe it was questionable before if ERHC had violated disclosure laws, I no longer believe it is questionable.
News 
Market Data 
Discover 
