Elray Resources Inc (ELRA)

[Mr Pennypacker]

From 8k - HUGE!!

"The Company claims an exemption from the registration requirements of the Securities Act of 1933, as amended, for the issuance of the foregoing shares pursuant to Section 4(2) of the Act and/or Rule 506 of Regulation D promulgated thereunder since, among other things, the transaction does not involve a public offering, the purchasers are “accredited investors” and/or qualified institutional buyers, the purchasers have access to information about the Company and its purchase, the purchasers will take the securities for investment and not resale, and the Company is taking appropriate measures to restrict the transfer of the securities."

$$$SUMMARY$$$
Accredited investors and or institutional buyers who invested millions and received shares that are not for resale, rather, for investment. These big boys want to see the pps rise, and put big money on this company believing it will. It also says the investors have access to information about the company. The information they have must be tantalizing!! And another thing, these investors want pps stability, so I doubt ELRA stays in the pinks for too much longer. An uplist to a bigger exchange would do the trick!!!

Go ELRA!!!