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You are confusing yourself! Garyst said float. I said issued. I said issued and float are congruent. I did not say float and outstanding are congruent. I did say that in ELRA's case, the issued/float and outstanding are, according to the transfer agent, congruent. Meaning the issued and outstanding ELRA shares are over 56M. If you read my post, the transfer agent said the issued and outstanding shares are the same amount (i.e. over 56M) (thus issued/float and outstanding shares are the same amount of shares) inasmuch as ELRA is concerned. I know the issued/float and outstanding shares are usually different number, but according to the transfer agent, they are the same. How is that providing misinformation? If you don't believe me, just contact the transfer agent and get the actual issued and outstanding numbers as of April 16, 2014. Do you at least agree that issued is the same as float?
FWIW, by you saying (Garyst said) means you are indeed speaking for him and replying for him.
The float is the issued shares. In this case the issued (float) and outstanding shares are congruent. The issued and outstanding shares are the amount available for the public (float) and are not restricted by the company. This is why the stock will not increase in share price because the issued shares (float) are increasing at over 6M every two weeks. BTW, the A/S is 1.7B. As of today, this company can issue (float) up to 1.7B shares. So far they only issued (float) just over 60M.
Please read the information posted in the below link for your clarification.
http://www.investopedia.com/articles/basics/03/030703.asp
BTW, why are responding for him? I was looking for Garyst to explain.
Garyst, why do you continue to state the float is under 50M? On April 2, 2014, The transfer agent informed me and I informed the board the issued and outstanding shares were over 56M. This amount does not include the dilution that has occurred since April 2, 2014. Todays dump was 270,000 alone. I am sure the issued and outstanding are well over 60M at this point. Even IHUB has the outstanding shares at 51M. I know you long, but come on, the truth please. ELRA is dumping an average of approximately 6,000,000 every two weeks. Until this stops, the stock has zero chance of going up. If you are unsure about the issued and outstanding shares just contact the transfer agent before posting misleading information. This type of action is suspicious at best.
You probably will be in good shape in the long term. I am holding off buying until these T-Trades slow down. Today's T-Trade of 281,000 shares at .0086 still gives me pause. For now, I am on the sidelines. Good luck with this trade.
Reporting the issued and outstanding shares may be moot at this point. Wow. Bid = .0081. I really didn't think this would get to .000's that fast. There must not be any bid support and I think we will see a T-Trade of over 500,000 shares today.
Yes. I will continue to post updates of the outstanding and issued shares approximately every two weeks.
Why is it that when someone posts factual info they are either bashing or short? I am neither. Here is the definition of bashing: "Bashing is a harsh, gratuitous, prejudicial attack on a person, group, or subject." My posts are far from this behavior. I am only reporting factual information regarding the company's stock movement. Juxtaposed to some people who are merely cheerleading or providing misinformation. I know if you are underwater, you may not want to discuss the fact that this company is dumping shares without any regard to shareholder value; however, if you were considering purchasing this stock, would this not be the kind of info you would want to learn? FWIW, I did make three posts on another IHUB board and several other posts on various other boards.
Do you consider a dump of 748,114 shares a big dilution or a little dilution? If you think it is little, then yes, big dilutions are out of the way. BTW, these little dilutions have added up to over 6,000,000 shares in the last two weeks and counting. Do you consider 6,000,000+ shares little dilutions? Come on, how can you say dilutions are out of the way when shares are dumped an a continual basis.
There it is...another dump of 748,114 shares at .012. Why would buy this stock with this type of dilution? This is why this stock moves in only one direction...down! It should be clear that if this type of dilution continues, the .000's are inevitable.
Wait for it...
Wait for it...
When you contact the CEO, ask him about the dilution. Ask him where the money is going and when will the dilution stop. Notice the T-Trade of 390,000 shares at .0125 posted after the market closed today. This stock has zero chance of increasing in share value until the dilution stops. The MM give the appearance every two weeks that the stock price is rising to suck people in and then, bam, the dilution knocks the share price down. I will not be a buyer of this stock until the dilution stops. Anyone who bought this stock in the last 11 months and still holds this stock is underwater. If you were lucky to purchase this stock at .011 a year ago then you have a little profit remaining. I commend traders like HHG who saw an opportunity and took advantage of it. If he hadn't sold during the last mini run, he too would now be underwater. If dilution continues at the current pace, then .000's will be here in May 2014 because if no one is buying and all that is going on is dilution, the stock has no where to go but down...
Are you kidding me? I don't want any shares until the dilution stops. My posting has zero effect on the share price! I am just keeping anyone interested in buying shares informed. After all, don't you want to be an informed investor before you purchase shares or do you want to purchase shares based on misinformation?
Share structure updated: April 2, 2014 = 56,461,487. Over 6,000,000 shares have been added/diluted in a two week period. Based on this rate and the T-Trades (over 500K yesterday alone) , you expect/speculate the outstanding and issued shares to increase by another 6,000,000 in the upcoming two weeks.
Garyst or anyone, do you have any comment on the dilution of over 6,000,000 shares in the last two weeks?
Do you have any information from the company (i.e. 8K or any PR) that discusses the racing platform? The dilution has occurred on an almost daily basis. There is no information from the company vis a' vis the dilution of shares. If you or anyone can provide this information, please do so. The money appears to be going directly into someones pocket because it is being recorded as an asset by the company and there is no information from the company accounting for the dilutive shares.
As Integral has stated and as evidenced by the T-Trades, the share count is ever increasing. Here is the latest share count. On March 14, 2014 shares issued and outstanding were 50,314,987. On April 2, 2014 the shares issued and outstanding were 56,461,487. So in two weeks, over 6,000,000 shares were dumped. I don't necessarily mind dilution when the company needs to raise capital to operate and fund various ventures; however, when dilution occurs and there is zero benefit to company, I cannot participate in this activity. The 6,000,000 shares at an average price of .015 means someone pocketed over $90,000 in two weeks. I want a job where I can make over $90K in two weeks. I will update the share count next month. Let the discussion(s) begin.
Wow! Right on cue. Another massive T-Trade of 713,610 at .0173. The seller has no concern for shareholders and these massive sells are evidence of that sentiment. This stock will not a have a chance to rise as long as these massive dumps continue.
Ok Gary, I know you are a strong proponent of the stock price increasing. However, is there a price point that you will sell (i.e. if the price falls to .000's will you sell)? I know that everyone has at some be willing to cut their losses, but I will understand if you or no one is willing to answer this question.
I was not trying to or inferring that you suggested a bottom or a particular price for this stock. I was just pointing out my at this time, my speculation was as good as anyone else's. Integral has been spot on vis a' vis his analysis of this stock and stated in a previous post that this stock will be taken to a zero bid. If dilution is indeed infinite that is where this stock is headed. BTW, at what point (price) do you become a seller of this stock?
Too late to get .015. It is not too late to get .013. I am wondering if/when people will sell. Will anyone sell when this stock breaks the 52 week low of .011? What about .01? HHG, I know that my last post, in your opinion was speculation, but based on the stock action, my speculation looks better than any other speculation (e.g. this is the bottom, etc). If anyone cares to respond, I I am just curious as to where they will sell. Thanks.
The difference, as you know, is roughly 30 million more shares sold by the company with nothing to show for it. Nada, zip, nothing. This money went directly into someones pocket and has nothing to do with the company. It is like the stockholders are just giving their money to someone they do not know and will get no return on that money. And the bigger difference (now that I understand how this company is operating) is that with every stock purchase, that money is going down the drain. There is no money to made by purchasing shares with the tactics currently being employed. Anyone purchasing this stock or purchased this stock within the last year is underwater. Each day the bid drops lower and lower with no end in sight. If you really like this company and potential, why not sell here and buy back double the amount of shares at .0075? If you had sold at .08 you have 6 times as many shares and if you sold at .04 you have 3 times as many shares. Think about it. Anyone who does not sell here is not very smart.
There were over 50M shares outstanding and issued as of March 14, 2014 according to the transfer agent. The O/S count is increasing each day. I will update the O/S each month to give everyone a perspective vis a' vis the pace of the dilution.
Do you really think the 385,730 T-Trade was a buy? This does not bode well for tomorrow or in the forseeable future. If this was a buy, the bid/ask would have moved up and not down. All day long, the bid kept dropping even though people were buying shares. Anyone that purchased this stock in the last 3 weeks are all underwater. Where are guys that just bought Thursday at .023? They are under water. Tomorrow more diluting and more downward pressure. I will contact the transfer agent on a monthly basis and update the board. I think these monthly numbers will give you guys more perspective.
Thanks. Why doesn't the money raised using convertibles show up on the balance sheet? In other words, how does the company, legally or illegally, put these funds into the company accounts?
Integral, can you explain how this arrangement benefits a company. Why would a company enter such an arrangement. For example, what is ELRA getting out of this? When this deal is made is ELRA provided with some funds? if so, where is that money? And why doesn't that money show up on the balance sheets? How can a company raise money and not have that money directly attributed to the company? Please provide any links if you can or cut and paste. If such a scheme exist then a company never has produce anything, they just have pump some idea, sell it to someone issue convertibles, take the cash, wait for buyers and then the convertible sellers makes his money. Finally, where in a 10K or other document can I see the convertible info. This scheme is a huge red flag among other red flags that I am trying to put in my tool box. Thanks in advance.
Anyone can check with Transfer Agent to verify the numbers I provided. Just email them at info@empirestock.com.
As of March 14, 2014, according to the transfer agent...
The issued and outstanding is 50,314,987 shares.
This board is too funny! Integral continually post about the billions of shares being dumped you guys are talking about buying more shares. Don't you get it, there is an unlimited amount of shares for sale and the retailers will never buy up all the shares. I will wait and watch on the sidelines. I may take a chance in the 000's and sell when there is another pump. Good luck with this one guys! BTW, I am curious vis a' vis the O/S and A/S; therefore, I am going to contact the transfer agent to get the actual share structure. I will post this info when I get it.
You are correct, nothing has fundamentally changed. As a matter of fact, nothing has changed at all including the dearth of revenues. Also, what has not fundamentally changed are the T-Trades. Todays T-Trade of 235,600 shares at .0217 is a red flag for me with OTC stocks. Until this activity stops, this stock, in my opinion, will not go up. These T-Trades started when the price was much higher. When the stock was going up, there were zero T-Trades because there were buyers of this stock. When the buying dried up, these T-Trades started and continue.
Why do you post such non sense? OTC stocks don't trade after-hours. Those are T-Trades. Look at the chart, those trades in 16's occurred much earlier in the day. These late postings will not have any effect on tomorrows trading.
Man...Are you asking me a question? If so, please restate the question.
Yes, back to normal trading. Another T-Trade of 676,000 shares at .0315. This does not bode well for tomorrow. There is no good explanation for these late post, especially with the size of the trade.
Cheech...Thanks for the informative/insightful post. I know that not all T-Trades are dilutive. However, in the last three trading days with ELRA, these late post were definitely dilutive shares being dumped. By that I mean ELRA is dumping shares into the market, diluting the OS structure and in an attempt not to panic stockholders, these trades are being posted after-hours. Yesterday, it was 310K posted as T-Trade. I have seen this many times with OTC stocks and now it is a red flag for me and when/if the share structure is ever released by the company, the dilution will become crystal clear. Again, until this dilution stops, all rallies will be killed. There are a lot of newbies that don't understand the game and there are also a lot of people that are very deceptive for obvious reasons. Everyone must look at the facts and make their decisions. But first you must know the facts. With that said, I am waiting on the factual share structure before making any additional purchases.
Wow! Did read my post. I said that was a T-Trade. It was a dilutive sell during normal trading hours and posted after-hours to deceive investors. There are no other trades listed in after-hours (including your alleged trade because you cannot trade after-hours). Also, there are no other late postings. Again, Wow!
Also, there was only one trade list here: http://www.nasdaq.com/symbol/elra/after-hours
for after hours trades and that was a T-Trade. Where is your trade? It is not listed because you cannot trade in OTC stocks after hours, period.
Are you serious? Look it up. OTC stocks DO NOT trade after-hours period. Think about it, why would someone buy at .0328 when the ask is much lower? This was a trade that occurred during normal trading hours and posted after the market closed. If you really, think ELRA trades after-hours, try to buy some now.
That was not a buy (pinkies don't trade after-hours). It was a dilutive sell during normal hours and posted after hours to give the appearance of a buy. In other words it was T-Trade. This has happened the last three days in row and everyday people get excited and the next day they are disappointed when the stock trades down. Look at the bid/ask for an indication of tomorrows open/close and not this deceptive T-Trade. This stock will not go up until the dilution stops..period. No matter how much averaging down or loading the boat occurs, the continual dilution will kill any rallies. I will not purchase anymore shares until the share structure is released. Anyone who bought the last week, including today, is underwater.
Gary, I applaud your optimism! We all have our own convictions based on our understanding of each situation. I would disagree with you vis a' vis the low float assumption. No one knows the actual share structure until the company releases this information. I say the 500K minimum because all the buys do not move ask. When 10K shares are shown at the ask and someone hits those 10K share, the MM just put up another 10K or 75K and so on. If the shares were thin, a 10K buy would move the ask at least .001. I am also saying this from personal experience (I made many purchases that should have moved the ask and they kept adding shares to the ask and kept showing the same amount and price at the ask (e.g. .10000 at 0355). When the buying dries up, then the sells happen at the bid. All I am saying that I will not buy any more shares until I know the share structure and until an actual business is open and running, the price of BitCoins will not have an impact on the price.
Guys, I think a lot of people are selling just to protect some of their monies. The company has not submitted any real info since circa November 2013. Also, the share structure has not been disclosed and I sense that a lot of dilution is occurring. Just look at those T-Trades everyday that are posted after-hours. This is done to diguise the dilution during the day. The Bid is now below 3 and when selling really starts, the 2's will be gone. The reason why all the buys yesterday did not move the stock is because each buy was hit with dilutive shares. No telling just how many are being diluted every day, but I suspect it is at least 500K per day based on the T-Trades alone. I will not purchase any other shares until the company releases the share structure. Finally, BitCoins do not affect Elray's stock as of yet because Elray has not formally started a business. Until they are up and running, BitCoin prices vis a' vis Elray are moot. I welcome thought out responses.