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The Stop Loss orders on SANP must be going through the roof. I expect that when the price starts to drop it will fall back 75% almost immediately.
GLTA
Bob
ELRA does not have a bitcoin play. They mentioned bitcoins in a PR 4 years ago and never followed up. The reference to the bitcoin PR has been forwarded in every 10-Q and 10-K since with zero implementation actions in four years!!!
Don't swallow the bitcoin bait.
GLTA
Bob
ELRA - Back to No Bid. Sadly, no surprise.
GLTA
Bob
ELRA - It looks like the Convertible Debt Holders just picked up about 1% of what ELRA owes them.
That is another $30K being flushed away.
GLTA
BOb
ELRA - Big trading day: $62.00 of shares traded hands today.
GLTA
Bob
Then go for it!
GLTA
Bob
ELRA - The only way to make a small fortune on ELRA is to start with a large fortune!
GLTA
Bob
That is a display error from IHUB.
Scottrade has the bid a .0000 with over 50M on the ask at .0001.
-- and that is just the largest MM amount on the ask.
ELRA - No Bid!
GLTA
Bob
Extremely slowly since there is no bid!
GLTA
Bob
Since there has been no bid for the past week they can't get any cheaper without a reverse split. Unfortunately, this stock is a black hole!
GLTA
Bob
ELRA - Since it looks like ELRA cannot get reverse splits approved and it is likely that Convertible Debt holders took the Authorized Shares to the limit over the past two weeks, there are no reasons for ELRA to have a press release.
Press releases for sub-penny stocks are normally designed to raise funds. ELRA's ship has sailed to that respect.
I feel bad for all of the investors that have lost money over the years because of this fraudulent company.
GLTA
Bob
There have been over one billion shares traded in the past week. A large plurality of those shares were bought by Traders looking to sell quick - buy at .0001 sell at .0002 - and get out. Unfortunately, there haven't been very many shares sold at higher than .0001 the last several days.
I expect that there are a lot of shares that short-term traders are going to dump on the market to limit their losses.
GLTA
Bob
ELRA has been destroying Shareholder wealth for years. The biggest component of this is that the company has decided to get financing through convertible debt, meaning that the financers can sell new company shares to recover the loans as long as there are authorized shares available.
This is called dilution!!
Another impact of drinking the convertible debt Kool-Aid is that the debt holders force ELRA into reverse splits to provide more shares to dilute. The end appears very close for ELRA since the state of Nevada seems to be preventing a requested reverse split for the past year.
I expect that the promotion over the past week has been a last effort by the Convertible Debt Holders to raise money through diluting shares prior to taking direct control of ELRA assets.
Shareholders of course, will be left with nothing.
It is better to check 10-Qs and 10-Ks for convertible debt exposure before ever following stock board leads in investment decisions, particularly when dealing with sub-penny stocks.
GLTA
Bob
ELRA Convertible Debt Holders are having a hard time selling shares today since there is no Bid.
GLTA
Bob
ELRA didn't take long to go to no bid today.
GLTA
Bob
ELRA Convertible Notes Payable:
June 30,
2017
JSJ Investments, Inc. $ 128,853
LG Capital Funding, LLC 4,264
WHC Capital, LLC 116,936
Beaufort Capital Partners, LLC 10,966
Tangiers Investment Group, LLC 48,393
GSM Fund Management, LLC 35,309
Microcap Equity Group, LLC 18,892
Virtual Technology Group, Ltd 481,500
Gold Globe Investments Ltd 2,324,000
Vista Capital Investments, LLC. 5,800
Subtotal 3,174,913
Debt discount -
Total 3,174,913
The two largest holders of Convertible Debt are VTG and GGIL. The reason for this is that ELRA is in default over the Know-How and Asset Purchase Agreement with the two companies that was supposed to get ELRA into the Bitcoin world. All that Bitcoin has achieved for ELRA is $2.8 million in debt that the company has no way to service.
GLTA
Bob
I just sent an email to info@elraytechnologies.com and received this response:
Sorry, we were unable to deliver your message to the following address.
<info@elraytechnologies.com>:
550: 5.1.1 <info@elraytechnologies.com> Recipient not found. <x.co/irbounce>
--- Below this line is a copy of the message.
DKIM-Signature: v=1; a=rsa-sha256; c=relaxed/relaxed; d=yahoo.com; s=s2048; t=1504028735; bh=nRcHDWIYNgud3BDXshn54nOESY0yEl9O4ZJlaFV0qK8=; h=Date:From:Reply-To:To:Subject:References:From:Subject; b=b/5j18uW8vINfHvb2UwsnG/MZ6aJFJL17u50vTm1ivnxhiCx2ebrMLiu1OQTXmWlvYEMvbZxcpOad2ujgNfeS6qbJiH4qbc1vidOnAuJY9rgieu2tLrXWs4ghCPy3YuP+H0rDf28V7oWtQrB15cEqQK3FeqVZMq5daccnNVCzoZan07xGKUwUzW6+CekFeG40z9+f19nMEkFgdcM5N1i5iHuHSRmO1qlpe/63GF5ZVbR9VTW9LEMtXTxsquy4bImh4aiHM4j5Jq+cT0fLm6uRKRwy5gQqLBlUPjBbBOtd2vW5zxX4Ub7vCberoR2epF74ohzijCgX+qVbDpNhEC8OA==
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mXFcNf5f8dP1fCdNJ1Jhvll2EXgb5vro5CVW51hNiVIpi1o2PL5QsaGyF3yNyZZxI6igsSpb2UOH
FahYz3YQu98XN0jqF2lqoKTyvScoJR4hHTrO89c9i6kKURk0UGTHvxvki5Ia4zaqrvGD5wkbDAMy
3Ni3gNmDTqjUZO8ydXCoyrfO2g2kQ5wDLUGXVHQVfZTcuT5pVIOTabn8MnnIwSGnspuWOgGVEssW
1dPZ.EXMxehgx0sSsyd_iYLg4U.evLOcK54qqgPYKjZJMXFNQT.n683PFY9jGOVidNTwZV70k59U
ScB5MUhiHafG3Cv8OXzTExOB2ajOkeuQNbl96nKhfyaaVh3loWLOmkRF9crG8CXHarHy6UUv6WRg
8Sbpq53ke2kJQRStxmp2nYmMzV18EfdkB6K9Nqtnkz9ulGxmiXPjwl3mA_KmbVQFcsvew4PfgTt6
DsekCUOQSrLYX0_qyz9JaaK9BFhJK0TTBQpZLpWc8HAw6yrodPXsBVvaBvBb.hnFSQcCpjxZR3g-
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Date: Tue, 29 Aug 2017 17:45:32 +0000 (UTC)
GLTA
Bob
Ownership means absolutely nothing because the domain is not being used. Since it takes you straight to Godaddy it looks like it was never used for anything but to entice investors to ELRA using fake PRs.
GLTA
Bob
Why isn't the domain being used?
Inquiring minds want to know.
GLTA
Bob
The domain www.globalcxc.com takes you straight to Godaddy.
To verify click here: No Bitcoins Here
GLTA
Bob
ELRA - With over 300M shares traded already today and the bid still at 0.0001, I expect the Convertible Debt Holders to wipe out the bid by closing. That is what ELRA has become - rinse, lather, repeat.
GLTA
Bob
If ELRA is rumbling it is likely gas - pure flatulence.
GLTA
Bob
ELRA - With a convertible debt load that is 100 times greater than its market cap, ELRA has zero chance of ever becoming a real company. The only chance for investors, is to sell their stocks on momentum plays before the debt holders can replenish the shares that they are selling.
GLTA
Bob
Moderator Comment!
Personal attacks always violate the Terms of Service!
Please be civil.
Bob
Any and all of the Convertible Debt Holders are selling as fast as possible!
GLTA
Bob
ELRA - Zero shares traded today.
GLTA
Bob
ELRA might hit .06 with a 1000 to 1 reverse split. I'm sure that Management would be thrilled if a reverse split went through.
GLTA
Bob
Unfortunately, the only way that a lawsuit can be financially successful is for it to go after the Convertible Debt Holders. These companies are complicit in the reverse splits that are necessary for them to retire debt - and make a profit on ELRA investors.
My position is that the Convertible Debt Holders are well aware that serial reverse splits are not a rational or sustainable business plan. Because of this their business models in the financing of sub-penny stocks are in effect perpetrating a fraud on legitimate investors.
To compliment matters, Convertible Debt Holders have deep pockets for Legal Counsel that are likely to dissuade Class Action Suits filed on consignment.
GLTA
Bob
ELRA - It still looks like they can't get another reverse split authorized. They are trying though!
Nevada Secretary of State
GLTA
Bob
EGT - Detailed terms of the offer:
Corporate Action Event Doc
This is a many page document that is scrolled on the left hand of the page. You then select each page to read.
GLTA
Bob
What would be more interesting would be to go after the Convertible Debt Holders for their role in perpetuating a scheme to defraud shareholders. They obviously are not innocent bystanders and it would be fun to watch them sweat!
GLTA
Bob
ELRA - They have already tried for a reverse split that didn't get approved. That may happen again.
GLTA
Bob
ELRA - From the looks of it there was a problem with their filing for a reverse split in April and the new filing amended the problematic numbers.
GLTA
Bob
ELRA - This is almost hilarious:
I googled the address for ELRA and this is what I found:
ELRA Address
GLTA,
Bob
ELRA current data as of 10:48AM Source: Scottrade
Bid | Size 0.00 | 0
Ask | Size 0.0001 | 1,500,000
Price Open 0.0001
Previous Close 0.0001
Day High 0.0001
Day Low 0.0001
52 Week High 5/3/2016 | 0.0008
52 Week Low 6/23/2016 | 0.00
% Off 52 Week High (87.50)%
% Off 52 Week Low 900.00%
Beta (5 Yr) 1.75
Volatility Avg 4/13/2017 | 263.20
10-Day Avg. Volume 11,818,575
Market data is in Real-time.
GLTA
Bob
ELRA - I updated the convertible debt table in the IBOX with the figures from the 10-K.
GLTA
Bob
ELRA hasn't submitted an 8-K since 2016-09-16.
ELRA SEC Filings
GLTA
Bob
ELRA 10-K is due by sometime on Friday. I am expecting ELRA to cease being SEC compliant.
GLTA
Bob