Replies to post #364802 on ERHC Energy Inc (ERHE)

[BREAKER098]

There hasn't been an IR/PR update on their website since 2017. If you call the phone # on their website a nice lady will answer - sounded like she was driving in the car or at the store based on the background noise (NOTE: this is par for the course for these operations). Heck I live in Houston - want me to go to the office and take a picture of the ghost town? Anyways, so I called the phone # and asked very basic IR questions. Her response, "I'm not sure exactly how to answser that".

This company is a SCAM. A shell organization to collect monies from shareholders.

[ssc]

It would be meaningful to note that the reason the share count has not increased in the last 7 years is that it is maxed out (again). After Offor decided to not fund erhc's part of the Kenya drilling, management embarked on a woefully mismanaged convertible debt campaign to raise the necessary funding. That resulted in taking the issued # of shares to 3 billion, a 1:100 reverse split, and then more convertible debt (which dickran claimed would never happen keeping his perfect record for being wrong intact) causing the share dilution to max out the share count again.

In spite of all those billions of issued shares, erhc was unable to pay its share of the drilling in Kenya and ended up giving away it's assets there as well as making it even more difficult to find another partner going forward. The last number of shares issued reported by erhc in August 2017 was 2,879,442,094, leaving erhc with about 120 million shares to issue which at current prices might raise about $12,000 which is why the share count is effectively maxed out and no shares have been issued for more than 7 years.

Also noteworthy - there has been no report of insider buying since the reverse split wiped out their holdings, and no 10% ownership other than that of guerguerian dickran who has been stuck with 400 million erhe shares for years. This lack of insider ownership makes provides a pretty good explanation for why management has done absolutely nothing to make erhe shares worth more than triple zeros for more than 7 years and is content with Caveat Emptor, non-reporting mode of operation.