ERG = WORLDCOM a disaster in the making, page-3

I don't hold ERG so I'm not an expert with the details but I thought the problem that the auditors had was with unlisted shares.

I believe ERG received unlisted shares in a company as part of a payment. The auditors quite rightly felt that these could not easily be on-sold to a third party for any predefined amount.

I also believe that they are most likely still in a financial crisis but there is insufficient information in the public domain to know whether it is improving or deteriorating further. I wouldn't equate them with Worldcom but I doubt I'd buy their shares until there was clear acknowledgment from the auditors that they were a "going concern".

BTW Congratulations to both of you for going into so much detail even if you disagree with each other.