Replies to post #224623 on ERHC Energy Inc (ERHE)

[Lickety Split]

mrogop,

Of course it's dillution. What can they buy for 2 Mil in the oil patch...rent a rig for 2 days...rent a boat to survey the blocks..lol There is precious little that 50 Mil could buy anywhere in the patch never mind 2 Mil.

Strass

[bayfisherii]

MROGOP,

With all respect, you are off point.

They sold nothing, they deluted equity, or essentially diluted 2.1% of the shareholder's interest for approx 4 Million.

The only way they could have sold equity was to sell ERHC Treasury stock, and correct me if I am wrong but to my knowledge they have no treasury stock.

The total of 4 Million they will receive is less than 18% of the cash they currently have on hand and really does not tangibly affect their Cash On Hand position.

The reason(s) for this are not clear but in my mind it had to be to help make a final push to get some sort of deal done.

Bay