Nevada Revised Statutes does not require a split to be an amendment to the articles.
But they filed an amendment. They never announced it on the wires.
Then on the 9th Asher files a 13g just as he has been. then out of the blue, an announcement on the wires cancelling a reverse split.
What you are missing with ELRA is
1) sold $4.3 million convertible debenture for a rolodex.
2) Note holder sells note to Stephen Hicks
3) Rolodex has not been audited
4) CEO has a relative in Mauritius as an Attorney for an off shore shelter specialist firm
5) ELRA has a $17 million accumulated deficit
6) ELRA has zero assets
7) The $4.3 million in convertible debentures issued for said rolodex transferred to Hicks cut up into 9 owners
8) 56 million shares outstanding when CEO started this mess in 2011
9) Adjusted for two reverse splits is now 290 Billion in 3 short years
10) Aforementioned accumulated deficit, no assets, negative cash flow, in 3 years 56 million to 280 Billion all to Hicks and Kramer with the CEO's family member as an Attorney in Mauritius sheltering funds from a company called "SHINDLER"
In a nut shell, those are the bullets. Tomorrow Ill give you details.
But his is a $17 million money laundering scam.
I forgot to tell you, they signed an LOI when they did the reverse in May. They have no revenue. Somehow they put out a PR that they are doing $68 million on the JV, but never filed an 8k or announced that the LOI was finalized. So an LOI went to generating revenue.
And a HK company paid $300,000 in a ppm at 3 cents for restricted stock under 4(2) not reg S when the stock was at .005 and the HK company was only formed the day before.
All fun and games.
$17 million and more to convert and sell. Now asher is shut down, I think they are running and gunning for the door.
Make it close to $20M
