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ELRA Upgraded Based on Low Market Cap, Price Target of $0.20 Per Share
(NEW YORK)--Elray Gaming, Inc. (OTC:ELRA), a provider of online and mobile gaming turnkey solution subsidiary, signs licensing agreement for virtual horse racing platform, a speculative price target of $0.15 to $0.20 per share.
ELRA Highlights
- Developing Virtual Horse Racing Platform
- Launched their First Online Casino
- Operating Binary Option Platform
- To Acquire Mobile Gaming Technologies
- Online Gaming in Strong Demand
- 24 Million Shares Outstanding
- Market Cap only $480,000
Virtual Horse Racing Platform
Elray Gaming entered into an agreement with Virtual Technology Group, LLC to assist in developing, marketing, and supporting their technology of a virtual online horse racing products. The horse racing platform will have three options which include fixed odds, sliding fixed odds and pari-mutuel, which enables worldwide deployment with regional preferences. Each engine calculates the payout based on the engine rule set and odds calculated by the virtual world system. Betting can be accepted as soon as the race is posted, generally 3 days in advance. All betting is closed 10 sec prior to race start when the system calculate the rendering files and sends the animation file to the viewer for the running of the race. This prevents tampering with the odds and payouts. This method offers the greatest security against any players or bots trying the "beat" the game. The system tracks every bet transaction for each user in "cash" or "play for fun" mode that can be viewed by the player from the web page, or by the operators from the call center module.
Video demo (click here)
Binary Option Platform
In addition to their new Golden Galaxy online casino, the company also operates their own binary options trading platform called Golden Matrix Binary. This now gives ELRA two live and operating gaming platforms, and makes it a active player in the online gaming sector. A video of their binary option trading platform can be viewed at here
$0.20 Price Target
As of Sept. 27, 2013, the Company had approximately 24 million common shares issued and outstanding. ELRA's stock chart shows very oversold indicators resulting from the investor selling small cap equities over fear of the government shutdown. This selling has seemed to settle sector wide, and thus ELRA may offer some substantial upside from its current levels.
Now that Elray Gaming has settled its long outstanding lawsuit, the Company is anticipated to roll out its gaming projects aggressively into such markets as Asia. With just 24 million shares outstanding, a price of $0.20 would still only equate to a $4.8 million market cap, when compared to others in this sector we feel it is very fair and justifiable.
This one is strange. Makes zero sense to me.
ELRA wins lawsuit - 8K filing
ITEM 2.01 COMPLETION OF ACQUISITION OR DISPOSITION OF ASSETS
On September 24, 2013, Elray Resources, Inc., a Nevada corporation (“Elray”), entered into a Termination Agreement (the “Termination Agreement”), with Lao Sio I (“Lao”), Millennium Commodity Trading Pty Ltd., a Hong Kong corporation (“Millennium”) and Millennium Holdings Pty Ltd., a Hong Kong corporation (“Millennium Holdings”), whereby Elray, Lao, Millennium and Millennium Holdings agreed to rescind that certain Public Stock for Private Acquisition Agreement dated May 4, 2012, entered into between Elray and Lao (the “Sale Agreement”).
Under the Sale Agreement, Elray acquired 100% of the outstanding stock of Golden Match Holdings Ltd. (“Golden Match”) from Lao in exchange for 211,018,516 shares of Elray’s Series A Preferred Stock. Lao was also named a member of the Board of Directors of Elray.
Following execution of the Sale Agreement, disputes arose between Elray, Lao, Millennium and Millennium Holdings regarding the parties’ obligations and performance under the Sale Agreement. As a result, legal proceedings were instituted in the District Court of Clark County in the State of Nevada and also in Juizo Civel, Tribunal Judicial de Base in Macau. The parties have now resolved all disputes related to the litigation and the Sale Agreement and have entered into a Settlement Agreement, which requires that the parties enter into and deliver the Termination Agreement.
Pursuant to the terms of the Termination Agreement, Elray agreed to return to Lao, Millennium and Millennium Holdings all of the stock of Golden Match it received under the Sale Agreement and Lao, Millennium and Millennium Holdings agreed to return to Elray all of the stock of Elray they received under the Sale Agreement. Lao therefore has relinquished any right to be a member of Elray’s Board of Directors. All parties also agreed to release each other for any and all claims that they hold against each other.
Nothing. Nothing at all.
Technical Trader Alert: ELRA
Elray Gaming, Inc. (OTC:ELRA) may be set for a bounce as the RSI indicator reads only 29, which may signal a short-term technical bottom for the stock. With less then 25 million shares outstanding ELRA may be setting for possible bounce back to $0.10+ short-term.
http://stockcharts.com/h-sc/ui?s=ELRA&p=D&yr=0&mn=11&dy=0&id=p30554496735
Wall Street Newscast,
Trader Alert
Kinda depressing, isn't it?
Bulls and Bears Under Consideration -Penny Stocks Trending Alert -Elray Resources Inc (OTCMKTS:ELRA)
Elray Resources Inc (OTCMKTS:ELRA) declined -29.62%, trading on 841,746 shares, to end the trade at $0.0537. The stock changed hands in a range of $0.05 to $0.07, bringing its market capitalization to about $1.15 million. If we look at its trading history of the past 52 weeks, the share price suffered a low of $0.01 and was moved to the maximum level of $0.22. Elray Resources, Inc. operates as an online gaming company. Splitrock owns and operates SierraCasino.com, Knutspoker.com, and LuckyLucyBingo.com. The company was formerly known as Splitrock Ventures, Ltd. and changed its name to Elray Resources, Inc. in February 2011 following the reverse merger with Elray Resources, Inc. The company is based in the British Virgin Islands.
http://www.sbwire.com/press-releases/bulls-and-bears-under-consideration-penny-stocks-trending-alert-elray-resources-inc-otcmktselra-eco-building-products-inc-otcmktsecob-tribute-pharmaceuticals-canada-inc-otcmktstbuff-deep-well-oil-gas-inc-otcmktsdwog-320289.htm
Hey Z,
I received an email this morning from Wall Street Newscast.
Elray Gaming Signs License Agreement for Virtual Horse Racing Platform
Last Updated: Aug.16, 2013 - 7:50am EST
(NEW YORK)--Elray Gaming, Inc. (OTC:ELRA), a provider of online and mobile gaming turnkey solution subsidiary, announces license and consultancy agreement with Virtual Technology Group, LLC for their virtual horse racing platform.
ELRA Highlights
- Launched their First Online Casino
- Operating Binary Option Platform
- Developing Virtual Horse Racing Platform
- To Acquire Mobile Gaming Technologies
- Online Gaming Sector in Strong Demand
- 22 Million Shares Outstanding
- Low Market Cap Compared to Peers in Sector
On July 14, 2013, the Elray Gaming entered into an agreement with Virtual Technology Group, LLC to assist in developing, marketing, and supporting their technology of a virtual online horse racing products, and to provide the Company exclusive use right of certain domains.
The horse racing platform will have three options which include fixed odds, sliding fixed odds and pari-mutuel, which enables worldwide deployment with regional preferences. Each engine calculates the payout based on the engine rule set and odds calculated by the virtual world system. Betting can be accepted as soon as the race is posted, generally 3 days in advance. All betting is closed 10 sec prior to race start when the system calculate the rendering files and sends the animation file to the viewer for the running of the race. This prevents tampering with the odds and payouts. This method offers the greatest security against any players or bots trying the “beat” the game. The system tracks every bet transaction for each user in “cash” or “play for fun” mode that can be viewed by the player from the web page, or by the operators from the call centre module.
A sample video of the virtual horse racing platform can be vieed at
Just got this...
Note: the "chill" placed on stock by DTC has been officially removed, and stock can now be freely traded online with any brokerage platform. Volume spiked yesterday which may indicate their new IR firm may be preparing promotional campaign now that this issue has been cleared up.
It's actually showing as a buy on my screen.
As of April 30, 2013, the Company had just under 21 million common shares issued and outstanding.
"We are sending this alert because we have been receiving inquires on how to purchase Elray Gaming (OTC:ELRA) shares since some have been having trouble place orders online.
With the news ELRA is about to launch their first online casino (see below) any interested traders seeking to take a position can place orders for ELRA by calling in their orders directly with their brokerage firms. This should allow your orders to be placed, and potentially executed.
We hope this information has been helpful, and we look forward to providing some additional updates in the coming weeks from ELRA."
South Street Media, Inc.
I know, but I guess it didn't work because I got it again, today.
ELRA online gaming & poker (only 20 mill OS)
Posted on June 17, 2013
(BUSINESS WIRE) — Elray Resources, Inc. (OTCBB: ELRA), through its online gaming and turnkey solution subsidiary Elray Gaming, announces casino consultancy agreement with Global Technology Investments Limited. (GTI Ltd).
Elray Gaming entered into a 12-month consultancy agreement with online casino operator Global Technology Investments Limited. (GTI Ltd). Elray Gaming with assist in the marketing and support of GTI`s online casino for a twelve month term for $250,000, with a provision to provide additional services as GTI expands their gaming portfolio.
GTI is an online casino operator, which operates online casinos in three languages, English, Spanish and Chinese, on one of the world`s Largest Gaming Software Platform and plans to launch additional online casino products in the coming months.
Brian Goodman, the CEO of Elray Gaming commented, “This contract not only brings operating revenue to the company, but also solidifies our expertise in the online gaming market, and assists in positioning the company with respect to being a premier turnkey service provider for both the online and mobile gaming sector.” About Elray Gaming Elray Gaming provides complete turnkey solutions for online gaming companies as well as performs strategic marketing and consulting services for Online Gaming operators from all parts of the world. Elray Resources is a global company with its Head Office Located in New York and offices in London, Sydney and Curacao, locations of the largest online operators on the net, which helps Elray Gaming, manage and serve its clients. The sophisticated gaming software automatically declines any gaming requests from within the United States, in strict compliance with current US law. Our Sydney office allows us to tap into skilled resources and some of the world`s largest client bases, for regular, personal interaction.
As our active operations are in a jurisdictions that are friendly to online gaming, our clients can rest assured that we are here to stay. www.elraygaming.com and www.elraymobile.com.
Read more: http://www2.thestockmarketwatch.com/newsletters/2013/06/17/elra-online-gaming-poker-only-20-mill-os/#ixzz2WUkah09T
It may have been my fault. I had a longstanding BUY order in at 55¢ and for some reason it partially filled today.