Replies to post #263764 on ERHC Energy Inc (ERHE)

[emdyal]

So you characterize any reservations as noise ?? May i ask what you would call the frequently repeated smiley face endorsements of the huge dilution that is being proposed

[tryoty]

My favored scenario, and one I think management *might* be entertaining, is also a double edged sword (for me anyway)...

- This company need cash to grow.

- This company needs to issue shares to raise cash... giving away percentages for (onshore) carries is just far too expensive.

- To issue shares, this company needs buyers (partners) for those shares.

- To attract partners, this company needs balanced governance and a balance in power in the shareholder vote. Currently Offor controls the vote and the BOD and management were hand picked by him.

- As I've said repeatedly, they need to raise cash and they know that, Offor knows that. But they could have raised cash with the authorized shares they already have. What they are thinking is bigger than that. Three BILLION is a big freakin number!

- To achieve a balance of power Offor's percentage of control has to go down. Now consider this, Offor could sell off shares to acomplish this, but what would the market think of that? The controlling shareholder is bailing! Oh no! The only way to restructure the power balance is to offset Offor via share placements.

The double edged sword is that these placements would have to be much larger than I could ever hope to keep up with via the rights offering. I really have mixed feelings about that scenario, mixed feelings that I don't feel will ever go away... so I gotta deal with'em.

[sunwillshine]

Amen to that!!

[midtieroil]

Many people including myself have attempted to raise these concerns about ERHC with management and the BOD. I know of no minority shareholder who has had any success whatsoever when trying to discuss issues relating to this company with anyone involved in this company. And it's not just me. It is EVERYONE who has tired. It's time to face the fact that this company doesn't give a damn about minority shareholders, they never have and they never will. I don't know if I am stupid for staying invested in a company like this who not only blows off minority shareholders but also violates SEC regulations concerning shareholder proposals in the process. And no this isn't slander or libel, it is a fact. I can tell you with certainty that the SEC knows it as does ERHC. Unfortunately neither is going to do anything about it. I guess that is the world we live in now.