ERHC Energy Inc (CE) (ERHE) Quote

The general rule for deducting losses on worthless investment securities is found in Sec. 165(g), which permits a loss deduction for a security that becomes worthless during the tax year, but only if the security is a capital asset in the taxpayer’s hands. The loss amount is determined by treating it as having resulted from a hypothetical sale or exchange of the security on the last day of the tax year in which the security becomes worthless. This deduction can be considered where the taxpayer is unable or unwilling to sell or otherwise dispose of the security in a taxable transaction. Otherwise, the loss could obviously be deducted upon such a disposition of the security under Sec. 1001.

Just correcting the fallacy that you have to sell. So all you have to do is show what you paid for it and what the price was when it was deemed worthless.

For clarification, Kenya currently does not currently recognize ERHC, or any company, as a rights holder in Block 11A.

Click on the block for details.


https://www.petroleum.go.ke/petroleum-block-map




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Your broker sends out a year end statement. If it does not show a loss how do you prove you had a loss? Especially if you couldn't sell the shares? If the brokerage will sell the shares then it will show up on your statement and you can take the loss....$3,000/yr. I've not tried selling my shares so I don't know what they can do. I just thought I read on this board that USA brokerages won't trade a de-listed companies shares.
Badog

Where is your leader....Krom?
Badog

Virtually every brokerage out there will sell your shares and not charge a commission. You just have to call them...

I think you may be wrong as if you can show that the issue is worthless you can take the loss. Just as you can if a company folds up and trading stops.

man do you ever have a big line of bullshit

whatever is going on I do know one thing....Your still a short and not a good guy...I will say that the person named is recognizable to All here.Any good guy just send a PM and I can share

RKT....lets try again. Can you tell us anything about the person at ERHC that you talked to on the phone? Was it more than a service in India taking calls?
If you don't know then give us the phone # you called so we can track the authenticity of the person on the other end. I don't want to do a google search...I want the # that you called so I can verify who is at the other end of the call. You indicated that it was an actual employee of ERHC. I don't think it was but lets find out. Or are you as phony as your leader?
Badog

One problem here for USA citizens is that you cannot deduct your $3,000/yr tax loss if you can't sell your shares. Just for the record, if you can sell your shares you can keep deducting $3,000/yr until you run out of loss which could be a life time of tax filings for some. But again, if you can't sell you can't take the yearly loss on your taxes.
The leader of the short squeeze group may well have several lifetimes of deductions. Maybe he/she will try to file multiple lifetime tax returns losses to combine multiple $3,000 losses. I doubt the IRS will be as easy to manipulate as some of his/her message board followers.
Badog

I guess I will never understand how certain people are so attracted to greed and the idea of wild riches they cannot determine fact from fiction and become willing to fall victim to any con man even when others point out the obvious lies and flaws in reasoning. This is how one gets STUCK. No way out. I guess it is so hard when you realize that you have been had...and that you have lost a lot of money...it becomes too hard to admit that it's over. And then to allow yourself to get hosed even more by a message board poster/conman....well that is even more unbelievable.
Hadn't seen any post by lovemelongtime for quite a while. I wonder if that person finally realized what was going on?
Badog

Hard to believe this lying scumbag had the audacity to refer to his "70 loyal followers" while he was trying to fleece them in real time. Anyone trying to find this guy, for service of legal claims or other reasons, the SEC database has all the information on 13G filing by erhe's largest shareholder aka krombacher:
Item 2.

(a) Name of Person Filing:
Guerguerian Dickran

(b) Address of the Principal Office or, if none, residence:
1035 Ave. Ashford, Apt. 303, San Juan, PR 00907

(c) Citizenship:
United States of America
Unless he has relocated to avoid the fallout from years of lying to unsuspecting investors. And here's the link like dickran always demanded from others but never provided for his own bullish bullshit:
https://www.sec.gov/Archives/edgar/data/799235/000180220820000006/sc13ga2.txt

I hope everyone can now see how the 5 D's fit dickran to a T: Desperate, Delusional, Demented, Deceitful, Despicable

The odds of this happening are slim to none. Just as much as anyone believes you actually talked to someone at the company.

Odds are we'll hear a whole new delusional, deceitful, desperate narrative soon. dickran and "the other dickran" are probably working hard on it as they both agree that "share price doesn't matter" and "it's not a lie if you say you believe it". Rumor has it dickran's sketched head of a make believe short seller is in the dumpster because he couldn't make it stop laughing. Now hard at work on sketch of a team of lawyer heads.

Of course, now that Krom is hiding again his head in the sand, hoping to get away with his lies…. By repeating on a daily basis his bullshit, he started half the topics, the other half are people putting him at its place by simply pointing out facts.

He’s probably working on a new made up narrative , he’s actually just made up a new story about block 11a in kenya….. all from the new parallel chat he created and charging his minions to join called the Gus bus….. where he collects money and supposedly give it back to his imaginary Nigerian friend

Looks like this board is going to be pretty quiet now. Almost impossible to scam this any further.
Badog

I know it's difficult for some people, but try facing the truth. dickran has lied for years about everything from done deals to massive short positions. Why? Sometimes it's so simple - dickran lied because he dumped six figures into 400 million shares and was/is willing to do or say anything to get out with a profit. Unfortunately erhc insiders screwed him and all the other erhe shareholders after the reverse split. They continued to issue more toxic debt leading to 3 billion more shares of dilution even though dickran swore they would not. The biggest tell of all was that management did no buying, and Offor own less than 5% of erhe even though dickran implored everyone to believe his lies about share ownership and not believe official SEC records.

Flying in the face of a share price near zero for 6 years, a company so badly run that brokers in the U.S. won't even allow their customers to buy its stock, and management that hasn't complied with SEC filing and disclosure regulations for all those years. Sad that the best question you come up with is about a source even though you quote a switchboard operator with no information. In the case of dickran and erhc, your loyalty has become foolhardiness. Hope it hasn't cost you too much.

"Yes, directly from the bullshit source". Ok Name the source

So....Did he cry on your shoulder and tell you everything..just like that

Talk about the eggplant buffet - how about someone openly lying and scamming gullible investors on a public message board where everyone knows his actual name. That's right, dickran just couldn't control himself from bragging about owning close to 400 million shares and then taking the bait and filing SEC disclosure documents containing all his personal information. Those burned badly enough to consider legal actions, see this sticky post:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=170564093

and the following link with all the pertinent info regarding this one and only 10% erhe shareholder:
https://www.sec.gov/Archives/edgar/data/799235/000180220820000006/sc13ga2.txt

I agree....0 shorts. I actually stuck a fork in this long ago but for $12 and 60,000 shares it was worth the risk of anything positive happening and giving me any kind of return.
Badog

0 shorts. Won't happen.
In fact if the $8 sp from a short squeeze ever materialized...

Well over 300k$ just in the last 3 years, not counting the new money he has been raising for his imaginary friend in 2024 ….another 10k or so

So cool how Karma always catches up with the likes of dickran. 20 years ago dickran suffered another total loss on an internet gaming stock. To lick their wounds, those who also lost it all on that stock created (surprise, surprise) a private chat room that dickran happily participated in and which I secretly infiltrated since I was not invited to join. You see I was one of the people advising to stay away from that gaming stock and they didn't want me anywhere near their private room. Somewhere along the way, dickran heard about erhc and came to ihub when erhc had tons of cash and unexplored assets. As erhc investors argued about a rumored $3 takeover being far too low (erhe was around 30 cents at the time) despicable dickran decided to dump fuel on the fire and antagonize erhe posters. Then he would go back to the private chat room and brag about how he could so easily make fools out of the erhe crowd as their stock was going no where.

But here's the irony. Somewhere along the way, dickran started to believe erhc was a billionaire maker. He/she got sucked in by his/her own greed and hubris filled lies and bought heavily all the way down from split adjusted erhe $100/share. When drilling found nothing commercial and erhc management ran out of cash and created the toxic debt fiasco, dickran was too far down the rabbit hole to get out. Instead we saw all the baseless claims, false rumors and outright lies about the reverse split, the transfer agent, no more toxic debt, buy of a lifetime, dilution insurance and on and on all the way to done deal buyouts, epic $8/share short squeezes, African buyers and now, as we have learned, scamming his own "loyal" spv followers.

Now stuck with 400 million worthless shares and followers stuck with over 1 billion, the lying, deception and deceit apparently gets even darker. How much money have unsuspecting people lost by believing dickran's bull? So pathetic, so despicable.

Worse than being delisted to the grey markets from the OTC and not actually being a legitimate company with a pps of .000000000000000001?

Yes, directly from the bullshit source, and he knows it, don’t you find it abnormally strange that he is awfully quiet HERE this morning ?

I can also confirm that he is really freaking out on other private chat for having been exposed like that….

I don't know any secrets. Sao Tome announced that ERHC had lost block 4 to Shell the beginning of this year.

In Post No. 362455, Krombacher states "Erhc clearly claims its rights in Block 4 with the caveat emptor... you think a reputable company like Shell would just take the block without paying its dues to ERHC? You think Sao Tome can confiscate a block with no remuneration to ERHC? SHAME ON YOU!"

So what is Peter to do with this money? The same as he has done before - looking for oil in weird African places that will keep him amused and not benefit stockholders.

Not agreeing or disagreeing, at the moment. Just looking for more information. Two sides to every story, and all that.

The fact that oldoil appears to have flipped does seem to give it credence, however.



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so, you agree with his post. If it's true, that is so evil and sad. I do tend to believe him/her, and think it's probably a disillusioned ex-follower. Or, someone who listened to a friend who is involved. Sounds too realistic.

Hmmm…interesting. May I ask the source of your information? Are you a mole who has infiltrated the Circle?






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Sadly this type of scamming has continually gone on since the failed drilling in the JDZ. And even sadder is that this probably won't be the last scam regarding ERHC...and there will continue to be those that fall for the newest scams as long as they are convinced of massive riches.
And we will always be too dumb to take advantage of the potential fortunes available.
LOL
Badog

Thanks for the peek inside guerguerian dickran's despicable dealings regarding his fake SPV. I knew there were reasons for dickran's sudden emphasis on adding disclaimers to his lies. Now we see why he/she sudddenly started adding statements like "not based in reality", "only speculation", and "erhe could go to zero" in a lame attempt to cover his/her ass. Sorry but that's not going to work after years and years of thousands of baseless claims, false rumors and outright lies. This latest inside info scam, if true, might be the last straw for all those gullible investors who followed dickran's "dilution insurance" advice.

Karma will have its way with dickran greed and hubris.

Probably. Lol 😆

Sounds like Red from the old Elephant fields. One in the same???

Hey oldoil, what is sad about the fact that he can’t steal the group money

What is sad, is that he kept the airfare money, that he kept the 6000$ ( because gus only lives in his mind) and that now, he steals his group $100 at a time

What is even sader, are the people still sending him money to support his lies and hallucinations

Again, i wonder how the SEC would see the largest registerd ERHC shareholder to ask for money against insider info?

Sad how sometimes a need to control ends hurting long relationships and 70 held out to dry. Dickran put that group together and how is that going to bring a return??
Sadly Dickran can’t run off with our funds.
He has a unique financial relationship to we 70.

As old oil is correctly pointing out, Dickran created an imaginary friend that he first named Gus from nigeria, then added the title « doctor » and collected 6000$ from the remaining part of his supposedly 70 members of the spv that, as ssc correctly points out, was never in effect. Important note, not his money. He pretends he got insider info from the good doctor such as a merger between erhc and starcrest, a deal between erhc and shell for block 4 ( yes again!) and finally that erhc is now secretly involved in Kenya and Gabon…. He is selling this insider info against $100 as old oil correctly pointed out and has so far, got 18 of his followers to sign an NDA and a promise not to buy erhc until march….. because as we all know, it is totally normal to conclude many multi-billion dollar deals , merge with a company and not say a word to the sec, no 8k, nothing. But the good doctor from nigeria ( #notascammeraccordingtodickran) knows all that and told dickran against only 6000$. But the good doctor forgot to buy plenty of stock . Anybody know if it’s legal to sell insider info like Dickran is doing?

Quiet !!
Those are secrets you have to spend $100
To get the real poop !!!
You’re not supposed to know that !!??

I think the worst thing that can happen to ERHC now that they have lost Block 4 is for them to get some money from Shell and then have Peter go looking for other blocks/countries to invest in. He lost the Block 4 prize and has a proven history of wandering around until all the money is gone. And that would take another ten years back to where we were 20 years ago.

More bullshit.

Was this in some back room of a Chinese restaurant? That seems legitimate.

I also did a study of what is truth vs. speculation. My study revealed that ERHE sp is .000001. What fraction of a dollar is that? One hundred thousandth of a dollar? Or less? I don't think I have ever seen a sp this small.
Truth is that out of the total investment community only a very few....who incidentally are STUCK with worthless shares and could only sell at a loss....would ever entertain the idea that ERHC is somewhere they would want to risk their money. All the speculation you can provide does not change the view of 99.999% of the investment community. This includes those who are close enough to the actual info (ERHC, Shell, Sao Tome, Total, Kosmos) or associated with those who have seen or heard info regarding block 4 thru friends or relatives, etc. There is always a leak somewhere. Yet no rush to own shares...even before it was delisted in the USA market.
I always look for compelling evidence of the current state of a company. In this case the sp is the only compelling evidence. No information is supplied by the company. Could something change. I suppose. In fact if the $8 sp from a short squeeze ever materialized so much the better for me. But at this point in time that looks like extreme speculation with nothing to back it up.
Badog

What's flawed is the fact that no one, including erhc's largest shareholder (you), has any idea how much has been paid to insider executives, consultants, or anyone else for over 5 years because erhc has chosen not to disclose any financials. Once again your "if's", "assuming's", and "speculation's" are based on nothing but the hopes and dreams of a largely stuck shareholder of a stock worth near zero. mba? cfa? cpa? Based on the track record of financial "speculations" exhibited over the last decade maybe retake the GED with fingers crossed to pass.

If we back calculate from the estimated $1.6 million of revenue needed to cover annual payroll and when we realize that PPP caps individual payroll reimbursement to $100k when annualized, that suggests that you need at least 16 employees, assuming they all made $100k and obviously many of them make less than that so we're estimating far in excess of 16 employees.

That means many employees don't have LinkedIn profiles or have their profiles hidden... and the number of employees at ERHC is greater than just 8 employees as depicted by LinkedIn.

The above of course is speculation but again as always is based on a fact pattern and with the use of logical reasoning and deduction clearly presented above.

Nevertheless, it's remarkable that not one of the 8 employees on LinkedIn bothered to update their profile to new employment given the short seller's narrative that the company is about to go broke as it potentially loses all of its assets. Clearly, therefore, the short seller narrative is flawed.

Krombacher

Uh Oh. Looks like violations of the gag order. Better get a court injunction against Linken In and call out the SEC / DOJ / State Courts and the Canadian Mounties on those scofflaw profiles exposing trade secrets and proprietary company info.

Top bad that PN spent his flight time to and from Africa watching the inflight movies rather then writing a paragraph or two to update shareholders.

Pathetic. You are the largest shareholder of the company, you control a group that owns more than 50% of erhe shares, and the only information you can dig up comes from linkedin, a switchboard operator, and gossip at a women's oil conference. Sad that you are forced to cling to years old, heavily redacted gag order and 400 page document. erhc has done an excellent job of keeping gullible, stuck investors in the dark as they do whatever they want with assets and any possible revenue. No surprise you resort to lies about short sellers, dollars/share done deal, epic short squeezes, and fake SPV. Quite logical and understandable erhe share price has remained near zero for over 5 years.

A LinkedIn search reveals 8 employees, but mind you that not everyone that works for ERHC, particularly in Nigeria or Sao Tome, will have a LinkedIn profile. I was only able to locate one Nigerian employee currently in an Africa office, an assistant manager in Nigeria, who works for ERHC.

Krombacher

Got a list of "But they're all still working for ERHC" employees you state are still employed by erhc? Or is that just "speculation"?

I can help you get started.

Employee #1 is the person who answers the phone, promises to forward questions to erhc management who will get back with answers but of course never do.

If you look at the LinkedIn profile of Michael Shafie, ERHC's geophysicist, you'll see that he left ERHC in 2012, back when ERHC was struggling with money and went to work for Shell International E&P for a year, and then came back to work for ERHC Energy, and obviously ERHC had the revenue to cover his payroll as we know from PPP funding. He's been working for ERHC to present day.

It makes logical and speculative sense that he would be on and possibly even head a speculative ERHC/Shell joint task force at ERHC's offices in Sao Tome for block 4 given that he was an "inside man" at Shell.

This relationship implies that ERHC and Shell are more likely "friendly" and not "adversarial" over block 4.

If ERHC were losing all of its assets by the end of the month, surely ERHC employees would've started looking for other jobs and updated their LinkedIn profile by now to reflect those new job positions. But they're all still working for ERHC... so I guess ERHC doesn't go bankrupt at the end of the month then, huh?


Krombacher

Nothing more than over winded bullshit.