Replies to post #366065 on ERHC Energy Inc (ERHE)

[ssc]

Thought you were smarter than that. We're talking about dickran having 400 million shares, his/her followers with close to 1.5 billion, and all the recent volume being about 40 million shares. That's about 2% of the shares owned by dickran and followers. Yes, nice profit from the triple zero, but no way to unload 100's of millions, close to 2 billion shares. And contrary to the lies about no one selling until dollars/share, all that recent volume was met with sellers who were happy to take less than a penny.

I don't know anything about convertible shares unless they are leftovers from the convertible debt fiasco that led to the demise of erhc. The company hasn't been complying with SEC filing regs for more than 8 years, so anything is possible and stuck erhe shareholders are kept in the dark.

[kingpindg]

Notes were convertible at various discounts to share price (i.e. toxic) but there when the authorized shares became essentially maxed out years ago, a few note holders were left with worthless paper. One note holder did sue but only received a small portion of what they were asking for because the judge said they knew, or should have known, that they were making a risky investment. That is my recollection, at least.
It could be possible that some of the note holders still hold shares and could be unloading at any opportunity in order to recoup something.

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