Yep, they will keep draining off any increase in value in the lead-up to any purchase of the company or other terminal event, so there will continue to be jaunts to conferences and administrative salaries supporting comfortable lifestyles but no increase in shareholder value. Only a buy-out or comparable event will change the current state of affairs. All IMO.
And how long has my biggest complaint about ERHC been the exact same thing. Admittedly I have a few additional issues with ERHC, but almost all of them could have been easily rectified by competent management who understood markets and how to communicate effectively with investors and shareholders.
My position ever since the terms of the convertible notes were disclosed has been don't buy until convertible debt is off the table and yes, I have posted that sentiment numerous times. Obviously many others understand the validity of that position as the stock price has continued its decline. Nice to see some of the last holdouts are finally understanding the situation.
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