Good Question. Extremely Good Question. I've been trying to find solutions to that question myself. When EGYH needed money, they sure didn't mess around ... they went right to the 'slumlords' with Kramer. Indeed, I said in a previous post: #7366
I have three possibilities puzzled out(& I'll end with the most optimistic):
ONE: EGYH a scam. Toxic borrowing is bread 'n' butter with pinkies. There are red flags all over even with this company ... E.g., They have a history of R/S(see my 3rd para.), so why should they care about the investor? They could just do another one down the road.
TWO: EGYH is legit, don't care, & needed the money for another failing 'adventure'.
THREE: EGYH is legit, almost had all the money for the announced distressed Texas Oil Company purchase, but needed just a little more money to 'close the deal' ---"yesterday", or, STAT, emergency. Supporting this last idea is the fact that 5,761,774 common stock convertible shares is not that much ... which implies EGYH only 'borrowed' as much money as they absolutely had to ---with haste.
But then, the SC 13G filing was dated 2015-09-30 ... We should have heard something by now ... at least that they were closING (emphasis on closING), on the deal. That's something any company would want to 'crow' about ... & it's now 5 mos. later.
At the same time it is very good to see pps coming back up. I'm now in the green. I need help too. Any one else?
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