It most certainly IS material. How many PSC's does ERHE have? Not only that the financial implications are also material. So this qualifies as material not only under one criteria but two. Plus, they filed an 8K indicating they thought it was material too. But, they failed to disclose the details of the contract which is required even if they chose not to file the acutal document until later.
Anyone who fails to adequately disclose a definitive material event is playing with fire. And that is doubly true of a company that has been under SEC scrutiny for years. It was not only foolish, it is illegal. Maybe you are OK with that, but I'm not.
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