Elray Resources Inc (ELRA)

[jmorexxnet]

This says it all; a HUGE working capital deficiency. Buyer beware.

The Company had a working capital deficit and stockholders’ deficit of $10,338,204 and $10,325,669 respectively, at September 30, 2016. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. Without realization of additional capital, it would be unlikely for Elray to continue as a going concern. Elray's management plans on raising cash from public or private debt or equity financing, on an as needed basis, and in the longer term, revenues from the gambling business. Elray's ability to continue as a going concern is dependent on these additional cash financings, and, ultimately, upon achieving profitable operations through the development of its gambling business.

Source: http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11686692