Elray Resources Inc (ELRA)

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There is nothing false about the derivative accounting. Evaluate the company based on the fully diluted basis inclusive of the derivatives. Stop playing it down as they do not exist.

Secondly, the note holders cannot convert at any one (singular) time in space to exceed 9.99%, which is why they convert is tranches, not all at once. It was designed that way for a reason.

As I mentioned it will take over 4 years to convert all this on a timely basis.