Elray Resources Inc (ELRA)

[Bob22701]

ELRA - Split details:

http://ih.advfn.com/p.php?pid=nmona&article=71876939&symbol=ELRA

The split is 150 to 1. Assuming a starting price of .0001 the post split price would be .015.

As soon as the ELRA market opens, post split, there will be a race by all of the holders of convertible debt to sell as many shares as quick as possible to in effect collect the money that ELRA borrowed.

Since the convertible debt was over $2.5 million as of March 31, 2016 the convertible debt dilution will rapidly push the price back down to triple 0s. I would not be surprised to see triple 0s in as little as four weeks after the market opens post split.

GLTA
Bob