Poster On I-Hub Gets Explanation From ERHC Of 10-Q Delay

Art2004, a regular poster on I-Hub, says he got a call back from "Frank," an employee of ERHC Energy, explaining the delay in filing the company's 10-Q and assuring him - he's a Miami Beach psychologist - that it will be filed today.

We can't help but feel their call to Art was prodded in some small part by our "Conspiracy Theories" post. Here is Art's message to I-Hub:

Posted by: Art2004
In reply to: None Date:5/19/2006 1:12:38 PM
Post #of 54004

UPDATE***FRANK AT ERHC OFFICES RETURNED MY PHONE CALL AND GAVE ME AN EXPLANATION FOR THE DELAY IN THE FILING OF THE 10Q WHICH HE GAVE ME PERMISSION TO POST

The delay is due to reconciling the large influx of money to the company as the result of the PSC signings with previous expenses and losses that the company had occured over the past few months.

As a result, the office is working with both the old auditors and the new auditors of ERHC to fulfill all the accountants concerns that all the expenses are fully accounted for and then related to the new monies.

Frank has been on the phone with them all day today and during the week.

He states that the deadline for the extended filing is this afternoon and they are working to file by the end of the afternoon. He does expect the 10 Q to be filed this afternoon..

He agrees that investors are concerned about the delay and he is cooperative about this explanation being posted.

RE: the Update from CEO Brandhuber. Both he and Frank do want to post an update on the website very soon. They are concerned with keeping the investors well informed and "happy". As soon as they are confident that all the events in the proposed update will be accurate, the update will be posted on the website.

This is a subject that both have discussed with each other and it will be done soon.

So a reaonable explanation does exist for all the investors, both optimists and critics.