Link please to the number of shares Offor and friends own. It is naive to believe any value of a private company will be shared equally with all shareholders. For over 2 years shareholders have no idea what value has come in or flowed out of erhc. The only thing they know is that it certainly didn't flow to them as the share price remains near zero. And that happened as a public company.
It's not too difficult to picture what might happen behind closed doors of a private erhc. Bonuses, salaries, new classes of shares, spin offs, consultants, favored contracts, the list could go on and on. Outsider shareholders would have no way to find out about any of it, just as they are in the dark now. It doesn't matter how many shares anyone owns. A small group that alleges to own the majority interest can't even get a return phone call lol. No accounting reports, no p&l, no balance sheet, no annual meetings, no shareholder updates even as they own over 50% of shares.
So yes, Offor is calling the shots and it doesn't matter how many shares he owns. If erhc ever actually has any financial success you can bet outsider shareholders won't share in it. That's why, with no buying interest and revocation a real possibility, longs are stuck unless they are happy to sell near zero.
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