ssc
7 hours ago
The difference between you and me is crystal clear. For example, I said I thought there would be another reverse split years ago. I was wrong about that and I freely admit it. I don't continue to claim I was right, I don't draw a sketch representing a reverse split and claim it really happened, I don't say it hasn't happened yet because erhc operates on "African time", I don't claim a gag order is preventing erhc from disclosing a reverse split took place, I don't say someone at a women's oil conference told me the reverse split actually happened.
You on the other hand make one lie after another and then lie about having made those lies. Cease and desist order, libel suit, fake SPV, signed contracts not to sell, African Queen buyer, Offor owning all the erhe shares, more than a billion erhe shares held in short positions, etc., etc. On top of that, you have been saying erhe would be worth dollars/share for a decade and you simply don't have the character and courage to admit you were wrong.
By the way, I am still waiting for you or your mindless minion to provide some links to the posts where I "lied about erhc going bankrupt over and over for years". Of course you can't because this is just another thing you lied about. Here's one example from a post I made after the reverse split where I mentioned erhc going bankrupt. Is this what you consider lying:
The most likely scenarios, again imo, are ERHC going into bankruptcy or cranking up the toxic debt machine again.
As it turned out, and in spite of your claims to the contrary, erhc did crank up the toxic debt machine again and issued close to another 3 billion shares. My statement was absolutely true and correct. Looks like you and your mindless minion don't know the meaning of a lie.
Krombacher
7 hours ago
I never said the covid PPP was an ongoing revenue stream, but they had to demonstrate revenue for two years running in order to get PPP funds two years in a row. To get the amount they got, I estimate that they had to prove they had annual revenues of $1.6 million for each of the two years. I also speculate that if they made $1.6 m in each of the two years to qualify for the PPP covid funds, then it's very likely they've been making this revenue in non covid years as well.
You don't seem to know how to read your own quote.
The quote doesn't say "if ERHC actually finds a partner, working capital will be needed"
It says, "Erhc's ability to exploit existing and prospective opportunities will depend on its ability to raise the requisite financing to meet its working capital needs" which it can only do by finding a partner.
I don't lie, you just don't understand what constitutes a lie because you yourself lie so much. For example, you claimed Offor is not a billionaire and you claimed there would be a second reverse split. None of this was true.
Krombacher
ssc
22 hours ago
Instead of the twisting, squirming dickran double talk, I prefer facts. Like this one from a recent erhc 8-K:
ERHCβs ability to exploit existing and prospective opportunities will depend on its ability to raise the requisite financing to meet its working capital needs.
See how it works in the real world? If erhc actually finds a partner, working capital will be needed. Not your asinine Covid PPP money that you misrepresent as an ongoing revenue stream.
Regarding dickran consistency? What is it now - dollars/share buyout done deal? African Queen driven epic short squeeze? Shell bidding war? erhc dividends? You seem to rotate thru them while managing to come up with a new narrative every few weeks.
Regarding you being a liar? That is an indisputable fact. Choose from the menu: Cease and desist order; libel suit; erhc existing in new paradigm where SEC rules don't apply; SPV with signed contracts by 70 shareholders promising not to sell erhe for less than $1/share - or cite the thousands of lies about short positions that don't exist.
Yes, you've been warning about erhe going to dollars for a decade or more and here it sits near zero. And all you've got is a sketch of a head and your demented, greed and hubris filled delusions of becoming a billionaire from $.0001 erhe. Pathetic.
Krombacher
1 day ago
SSC,
you said, "erhc doesn't need funding because they can't find anyone"
How does that work? The opposite is true, if ERHC doesn't find anyone, then they would need funding because finding someone brings them funding.
You think I've been changing my story? Really? I think I've been fairly consistent and I've posted all the things you've been wrong about including Offor not being a billionaire, there being another reverse split, and the list is long.
Be that as it may, this is not a contest about who can be consistent or who can print shorted shares to keep the price down...
... this will ultimately be about the fundamental value of ERHC's blocks.
And when it ends, we will know who wins. But it hasn't ended just yet. I know you desperately want to call it, but you can't because it ain't over. But soon it will be. And most longs will wait for it. That's why shorts can't cover as much as they're desperate to do so. If the outcome is as I believe, shorts will suffer, as they deserve to. It is what it is.
Shorts had ample warnings since Day One. But instead of believing in what I had to say, they chose to call me a liar falsely.
They will pay dearly for that mistake.
Krombacher
ssc
1 day ago
You just can't manage to crawl out of your self-created cesspool of falsehoods about short sellers, Offor share ownership, gag orders, done deals and dividends. You are unable to provide any proof to support any of it. If Offor owns all the voting shares as you so ridiculously contend, why not take the company private? The shares are virtually untradeable, the price is near zero, and there are no more shares available for capital raising.
erhc will never pay a dividend because management and insiders own very few shares as documented by SEC records. This is why if the need for additional capital arises, a reverse split and subsequent debt offerings and/or dilution will be back in play. Likewise, erhc has no interest in doing anything to add to the value of its common shares as evidenced by management's actions and the stock's performance over the last 6 years.
The entire dickran demented, delusional, deceitful nonsense about $8/share and dividends is built on the structurally condemned foundation of billions of erhe shares held in short positions for years and years as the price has hovered near zero. It is totally flawed and insults the intelligence of anyone who understands even a little about the stock market. Without that sketched headed, made up short selling bullshit, the facts show that dickran and his mindless minions have accumulated 2/3 or more of erhe shares while management and insiders have very little skin in the common stock game. Don't take my word for it, just look at the teal facts - the SEC records and the erhe price chart.
Krombacher
1 day ago
Let's say I hypothetically agree with you for the sake of argument (although I don't agree about raising the shares authorized because that requires a change in the articles and bylaws, and a change there is rare. Usually they would just do a reverse split to lower the shares outstanding and keep it below the shares authorized so they can then print shares if they wanted to dilute shares with convertible debt)...
... but let's say Offor could easily issue preferred shares and the like. Why would he do that when he could just issue a simple dividend. If he owns the vast majority of voting shares, then he's not really sharing the total dividend payout much.... the vast majority of the dividend payout by ERHC would go to him anyway.
Add to this fact that a dividend payout is more TAX EFFICIENT than any other form of payout, why wouldn't Offor choose the most logical path of least resistance and just give himself a dividend rather than embark on all manner of nonsense, even if that nonsense was legal?
What you're failing to grasp is that neither Erhc nor Offor has to make any dividend payment to shareholders of shorted shares. Why would Offor care? That's not his problem.
The shorts have to deliver the dividend payment to the owners of the non voting shorted shares not Offor and not ERHC. That's the short seller's problem not Offor's.
If Offor is getting nearly all of the dividend issued because he owns nearly all of the voting shares, then that's going to be far more TAX EFFICIENT than trying to pay himself a bonus or preferred dividend, etc.
He or his financial advisors would be idiots to ignore that.
And to those who think there's still convertible debt on the balance sheet, you are forgetting that convertible debt, if not converted into shares, has a maturity date. Once the debt is mature it must either be paid or it is defaulted on. After a default, the parties would have to try to collect via courts, and that hasn't happened either. After a while, the debt is simply written off by the debt collector, if it's deemed uncollectible. By now, that convertible debt has long been removed from the books and no new convertible debt can be issued without a reverse split, and no reverse split has occurred, so no new convertible debt has been issued. The debt has been vaporized.
Krombacher
ssc
2 days ago
So I'll take that as a yes, you believe Offor controls enough shares to do any of the things I listed and more WITHOUT even informing outside shareholders like you and your mindless minions about it until it was done, and certainly not giving any outsiders the right to vote on them. So increase in authorized shares to allow for more convertible debt, issuance of preferred shares, a reverse split to allow for fund raising, granting of options and/or preferred shares to himself and other insiders to allow recovery from any reverse split that might occur while wiping out existing shareholders again (as in you and your minions), payment of a dividend to only preferred shareholders, and any number of perfectly legal other actions that would enrich Offor and insiders while leaving current shareholders with what they have now - nothing.
Why would Offor want another reverse split? Come on, even an eggplant would understand why. ERHC does not have the funds to hold up its end of any potential deal. They even said so in an 8-K (you know, those SEC filings that are miraculously allowed by your made up gag order even though everything else, according to you who has never seen the gag order, is off limits lmao). So to raise cash if a deal ever actually materialized, more shares would be needed. Offor, who according to you now has limitless power over all things erhc, would do a reverse spit (just like before), wipe out all current shareholders (just like before), raise funds as needed, and do whatever it would take to give himself new shares to replace the ones that were reverse splitted away (just like before). He did it once (according to you) so he could certainly do it again.
And why do you continue to act like the authorized shares is some sacred number? According to your view on Offor's all-controlling position, he could increase that count at any time without needing any votes from you and your minions, without even telling you it was going to happen. This is one of the reasons erhe trades near zero and you are stuck, stuck, stuck.
iwondertoo
2 days ago
My recollection of the conversion was that it was a percentage of the market price of commons. How, or if, that would transfer to preferred, I guess would be up to whoever made the claim. I am not sure that preferred shares were saleable on the market, so they would have to be exchanged to common to make any money off of, and for that they would have to authorize more shares. I can only vaguely remember the exchange rate preferred to commons, and what is in my head may pertain to a different company
iwondertoo
2 days ago
From an accounting perspective, you have absolutely no idea the number of shares authorized or outstanding. They haven't reported to anyone. If you own shares the only thing you know is whether they were r/s again, or not. You may not even have to report your ownership since you have no idea what percentage of shares you own. According to the last filing, there were not enough shares authorized to cover the convertible debt already issued, so I assume there have been more authorized, or, there is still convertible debt on the books. Maybe even Offors. He may want to be the last to convert, thereby ending up with the largest share for the smallest amount of money.....
Krombacher
2 days ago
I'm not pretending to miss the point.
It's an idiotic point.
If Offor has controlling interest as I believe, of course, he could do lots of things.
But from an accounting perspective, my point was that ERHC could not issue any convertible debt when the shares outstanding almost equals the shares authorized UNLESS they do a reverse split.
In almost a decade since the last reverse split, the company has not done one, despite that YOU falsely predicted that they would.
Why would they? Especially if Offor already took advantage of the cheap prices after the last reverse split to buy shares behind a gag order? (Which is an assumption on my part) No need to do another one. And so long as he was following a judge's order in the form of a gag, then it's legal because the gag takes primacy over the SEC, as we know by the tenth amendment of the U.S. Constitution (but I am not a lawyer)
Or how about you answer THIS question: why on earth would Offor want another reverse split to buy convertible debt if he already owns the company?
Clearly, he wouldn't and that's a way to deduce that he already does own all the shares he wants to own.. the fact that they didn't do another reverse split tells you that Offor doesn't want one or need one.
More in line with what Offor would want as a shareholder is a dividend that pays him while short sellers pay a dividend to our shorted shares ownership.
And you can't hide a reverse split. Everyone would see their share count change if they attempted one. So don't give me some nonsense about them secretly doing one.
And they can't secretly issue convertible debt when the shares outstanding equals the shares authorized, either.
Krombacher
ssc
2 days ago
Pretending to miss the point won't make it go away. The question is:
Does Offor own controlling interest so he can do whatever he wants with things like board members, increase to authorized shares, reverse splits, issuance of preferred stock, executing material actions without releasing them to the public, etc., or doesn't he? You have made claims both ways whenever and however it fit your new narrative of the day.
We don't need any "dudes", African Queens, or sketched head short sellers nonsense. Just an answer to the simple question: Which is it, does Offor own controlling interest or doesn't he?
Black and white, just like the question about one of your mindless minions claims that I posted lies about erhc going bankrupt 60 times, "over and over for years". Can he provide links or post numbers of just 5 examples to support his claim or was this just another lie?
ssc
2 days ago
Once again we see dickran tangled up in his/her own web of deceit. Not long ago he/she was claiming Offor was the new Chairman of the Board of erhc (totally without proof of course), and that somehow that meant he owned or controlled enough shares to get elected without having to contact other public shareholders or announce it. If that were true, then Offor could also get approval for a reverse split or increase to the number of authorized shares without votes from any other shareholders, particularly not from the small group of stuck investors and their supposed 2 billion erhe shares.
Now dickran says erhc can't do a reverse split or increase authorized shares to allow more convertible debt to be issued. So which is it? Offor can do anything he wants with erhc without informing other outside shareholders or he can't? As usual, dickran will try to use whatever set of made up, make believe nonsense fits his/her new narrative of the day.
The fact is no acquisition of erhe shares has been reported by Offor or erhc management since they were all wiped out by the reverse split. No gag order would order people not to follow SEC disclosure requirements designed to protect public investors. dickran/s delusional desperation again on full display as he continues to beat the dead horse gag order that somehow allows 8-K's from erhc but magically can be used as an excuse anytime facts show dickran bullish bullshit is false.
ssc
3 days ago
No, you measure in delusional dickran days where a day apparently equals about 20 years. Your asinine "any day now" claims really mean never but your new narrative lies just keep rolling out anyway. Meanwhile September is right around the corner and there is no sign of any type of deal - no short squeeze, no Total buyout, no Shell bidding war, no African Queen, no spv with signed contracts (biggest lie of them all), nothing but dickran and his handful of mindless minions spewing out one false rumor after another. Their desperate efforts to get 10 cents or even a penny are so transparent that they fool no one as erhe remains priced near zero as it has been for over 6 years.
Even an eggplant could round up 5 cats in less than 20 years, even using your sour milk. lmao