I'm afraid that it's probably not possible to convert DRM protected eReader files to anything else right now. There are ways to convert from .lit files, though. (But of dubious legality depending on your country, so if you are stretching the edges of the law, please at least be sure to do it for "fair use" not to distribute copies.)
If anyone else has a way, please let us know, but I think eReader is pretty secure in it's DRM. Fortunately, the protection is pretty reasonable relative to other forms of e-book DRM, and it happens to be my favorite DRM'd e-book format.
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