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Form 8-K for ELRAY RESOURCES, INC.
1-Sep-2010
Changes in Registrant's Certifying Accountant
Item 4.01 Changes in Registrant's Certifying Accountant
On June 22nd, 2010, LBB & Associates Ltd., LLP ("LBB") notified the Company that effective that date, the firm resigned as auditor. The Company has appointed GBH CPAs, PC ("GBH") as auditor. That decision was approved by the Board of Directors on August 20th, 2010.
LBB issued its auditor's report on the financial statements as of and for the years ended December 31, 2008 and 2009, which included an explanatory paragraph as to the Company's ability to continue as a going concern.
Other than the going concern uncertainty described above, LBB's audit report on the Company's financial statements for the year ended December 31, 2009 did not contain an adverse opinion or disclaimer of opinion, nor was it qualified or modified as to uncertainty, audit scope or accounting principles.
During the years ended December 31, 2008 and 2009 and the subsequent interim period through June 22nd, the date of resignation of LBB, there were no disagreements with LBB on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure which, if not resolved to LBB's satisfaction, would have caused them to make reference to the subject matter in connection with their report on the Company's consolidated financial statements for such years; and there were not reportable events, as listed in Item 304(a)(l)(v) of Regulation S-K.
The Company provided LBB with a copy of the disclosure in the preceding two paragraphs and requested in writing that LBB furnish the Company with a letter addressed to the Securities and Exchange Commission stating whether or not they agree with such disclosures. LBB provided a letter, dated August 31, 2010 stating its agreement with such statements, which is included as an exhibit to this Form 8-K.
During the years ended December 31, 2008 and 2009 and through the date of the Audit Committee's decision, the Company did not consult with GBH with respect to the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Company's consolidated financial statements, or any other matter or reportable events listed in Items 304(a)(2)(i) and (ii) of Regulation S-K.
?? o___O Any word?
Still just a bonus to you??
Caveat Emptor.
And without the follow up filings and costs, nothing will ever happen.
Talk to anyone at FFGO or NMGL yet to see how that's coming?
What's the current "deadline" for something to happen?
Call it my gut instinct, but I have a feeling for some reason or another (Extenuating circumstances, of course) -- they'll just blow by it with more excuses.
And when the bagholders get tired of hearing the excuses, you'll stop hearing anything at all.
Want to contest what I'm saying? Leave this post up and let time prove me right.
I'm out.
Don't, or can't?
Well, if there's no way you can explicitly and publicly (non-proprietorially) explain how FFGO intends to deliver on this claimed investment's ROI, then there is no explicit, or public way that FFGO can achieve success.
Because if there was, you would line up the things that make it possible, and say it.
Which is why I'm here, challenging you, saying these things are not possible.
Because they are not possible.
So, either they are, and you can provide clear information detailing how FFGO has the means to satisfactorily complete this deal, or this entire thing has no reasonable, logical explanation, and well ... you have a lot of answering to do!
Rocketman, if you are so endeared to FFGO and Lumb's investments -- could you please give us some indication of how it's turned out to be a positive investment for you in any way, over the years?
Where's your pot of gold at the end of the rainbow, that you want everyone else to be chasing?
That certainly doesn't sound like a highly respected investment banker to me!
Sounds like someone trying to juice the system and getting burnt, then hiding in the shadows!
Certainly sounds like what I've been talking about in regards to FFGO....
Again, Alan, do you have anything in the realm of factual base to believe in this, or is it just pure fantasy?
We've gone over the necessary steps for such a 34x ROI on this FFGO deal investment -- you have yet to tell me what you think of the possibility of those requirements being met and completed satisfactorily by both parties????
No answer???
If shorty's gonna get crushed, you'd think people would be accumulating to profit from the squeeze.
Any rationale for this, Alan??
The short interest has as little bearing now as it has on FFGO it's entire corporate life.
It is factually inaccurate to say that the short position is at all impacting the trading of FFGO.
The only people who've raped and pillaged you is FFGO all the way down to the floor, by dilution, and pumping and dumping FAKE 8k's and PRs, JUST LIKE THIS ONE IS NOW.
They have no historical background to suggest they're capable of anything more, and they have certainly shown us nothing so far in this deal to indicate otherwise.
If it walks like a duck, quacks like a duck, flies like a duck, and has a duck bill, it is not a dinosaur!
Put on some glasses!
When the NMGL deal comes through, you've gotta get back to me and let me know it was for sure 34x ROI!!!!
'Cause you never will send me such a message!
So Alan why is nobody acumulating???
If people are trying to buy and there's no liquidity, that's one thing.
I think nobody's buying!
And nothing could really be clearer than the answer to all this debate.
As soon as FFGO comes through on their end, legally and monetarily, the deal will complete and the shareholders will see fruition of their investments.
I wouldn't want to speculate, but if the bashers on internet forums manage to somehow change public confidence about the deal, or in any way influence other parties to reconsider....
Caveat Emptor!
But the official PR's and 8k's ASSURE the SHAREHOLDERS OF THE COMPANY! Don't believe those bashers on internet forums, //just as soon as they file the necessary paperwork (and pay for all that)// all those FFGO shareholders will be rewarded with divis or wonderful preferred shares.
I look forward to the miraculous day this all comes to fruition.
Still waiting.
Get those Divis yet?
FFGO file that necessary paperwork yet?
Nope.
WOO! Liquid as a block of ice in outer space!
These are the same meaningless statistics and fallen through commitments of old PRs that you used to pump this [and still are], to no meaningful avail.
They did not count then, they will not count now.
The company has already stated this to be an untruth. Why do you continue to perpetuate this falsehood?
What's your ROI from this deal so far, Bull?
Keep me posted. I'd hate to see this whole thing not pan out.
Once again, you bang the "Naked short" drum, when the company has already addressed this as a moot point.
?? No reply? Are you conceding the points addressed in my response? Your posts today certainly don't reflect that.
Still haven't delivered.
No, it's just factually and meaningfully useless.
It will never have material impact.
Let's wait and see .... so far that's been true.
Okay then, Bull.
We'll just wait. And then I will accept your, and the companies' measly excuses once again.
So you respond to me calling you a believer of lies, by calling me a liar?
You are unbelievably illogical.
Okay.... we'll be waiting.
It will bring nothing, Seven, just as all your yesterdays' tomorrows have.
Still waiting to be proven wrong.
Look out shorty's gonna get crushed when this flies and the FFGO deal sends NMGL through the moon.
Grab a couple (literally) shares, before they all fly!!!!
...HAHAHAHAHA
0 shares traded.....
Definite multibagger.
Hahahahaha....
No, rocketman, it does not.
The company has stated it does not, and this has (as confirmed by the company) been stated false!
This is simply not true!
Alan, what does FFGO need to supply the proper filings to complete the deal?
Where on their balance sheet have you found those necessary supplies, and when do you expect them do deliver on it?
So whats the status of the necessary FFGO filings to complete this fractional deal, Vianna?
Yeah, a whole whopping less than 1000 shares!!!! For more than a month!
That's what I call liquid!
Exactly what amount of what assets did NMGL purchase from FFGO?
And what is required of FFGO to deliver on these commitments?
And do they have the capabilities to deliver those requirements?
No.
I eagerly await seeing your very wild predictions come through! I would be blown away. Guess we'll wait and see!
Exactly what did they buy from FFGO, Diamond? And what must FFGO do in order to deliver on any of these promises?
That which they are undoubtedly incapable of delivering!
0+0 does not equal 34!
Stiiiiiiiil waiting. Get back to me on that one! ;)
If you bought AFTER it hit the floor...
There is no big time institutional investor interested in NMGL or FFGO. Call any broker, and ask them if anything on any corporate portfolio contains FFGO.
If you get anything but a laugh, I'll be impressed.