Replies to post #138603 on ERHC Energy Inc (ERHE)

[walldog0]

mickey94...ERHE is governed by the rules of the SEC....

and Colorado State Corporate laws, and these rules tend to protect shareholders from the type of mistreatment you are asking about.

Buyout, and takeovers by large shareholders, is severely restricted to something like 2/3 of the voting shares.

In other instances, the buyout entity (say SEO), can't vote there block of shares, because it constitutes a conflict of interest...they must recuse themselves from voting.

I'm not a lawyer, but this type of hostile takeover or insider buyout of the common is highly frowned upon, and with the ABC gang watching....its impossible,...imo!

[tryoty]

A company selling a large asset usually hires a third party to determine fair value. As the largest shareholder of ERHC, Chrome's purchase of ERHC's assets would be scrutinized by the SEC and the SEC would block the sale of the assets if they are not fairly valued.