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Not the The Zombie Apocalypse. ELRA is the perfect example of The Zombie Apocalypse.
GLTA
Bob
Possible reasons for ELRA activity today:
1. Going Grey Market in April(1)
Convertible Debt Holders investing to try to create a last run
2. Going Grey Market in April(2)
Management is trying to pull in shares to lessen the chance of Shareholder lawsuits
3. Tax refunds burning a hole in someone's pocket.
4. The RS requested 8 months ago has been finally approved.
A price jump would start them at a higher price to dilute down
5. The Russians.
6. The Zombie Apocalypse.
Any other ideas?
GLTA
Bob
ELRA - The annual report (10-K) is due 3-31-2017. I'm wondering if the date will be met or if the report will even be filed.
GLTA
Bob
In the past three months the ELRA stock price has only closed above 0.0001 one day!
GLTA
Bob
ELRA - Well, it looks like ELRA has turned back into a deadbeat stock with no interest!
GLTA
Bob
ELRA - Well, it looks like another run has ended without any price movement.
GLTA,
Bob
There is certainly a lot more interest in selling ELRA than buying. Of course, this is for obvious reasons considering how much money has been lost on this stock!
GLTA
Bob
ELRA - Convertible Debt
I have updated the convertible debt table in the IBOX.
GLTA
Bob
ELRA SEC problems -
More information is available here:
www.sec.gov/litigation/admin/2016/34-79011.pdf
GLTA
Bob
I would say that it is pretty sleazy to review a product that you are promoting.
GLTA
Bob
GMGI appears to have the same CEO as ELRA. I did a quick look and GMGI has 60% more convertible debt that ELRA. I would strongly suggest staying away from any company that has a relationship with Goodman!!!
GLTA
Bob
ELRA is a dead horse that might be whipped up for a lap or two. Any company that might purchase ELRA would be on the hock for over $2.6 million in convertible debt. That debt is absolutely toxic. The convertible debt holders are likely to keep the stock price where it is because they have millions to recoup.
It is very high risk to hold ELRA stock. If an RS is announced expect to lose 99% of your investment. That is the pattern here.
I would like to thank everyone for sticking to IHUB rules and not engaging in personal attacks!
GLTA
Bob
ELRA - It seems likely that the latest request for a RS was delayed because of an active SEC investigation. That may explain ELRA actually proposing the penalty so that they could then get the RS approved because of the investigation going away.
Expect ELRA to find a way to squeeze more money out of people. It isn't just the convertible debt holders. Now the company also has to pay fines to the U.S. Government.
My expectation is that ELRA has become an even worse investment, if that is possible.
GLTA
Bob
Thanks Renee,
Your post has been stickied!
GLTA
Bob
Nothing lately!
GKTA
Bob
I don't know a good way to find that out. It seems obvious that the request was denied. But, I don't have any proof.
GLTA
Bob
ELRA - there is $2.7 million in convertible debt outstanding. The debt holders will try to sell into any buying surge. Based on the 10-Q there are more than 400 million authorized shares outstanding that convertible debt holders CAN and WILL exploit!
GLTA
Bob
ELRA numbers are awful.
Operating profit of $ 8078
Interest expense of $ 236547
GLTA Bob
ELRA announced an RS but it looks like it didn't get approved.
GLTA
Bob
Mick,
I haven't paid much attention to GLXZ for several years.
GLTA
Bob
ELRA - LIMBO
The next 10-Q should be submitted in August. If the latest reverse split doesn't go through will the company even attempt to remain current with SEC reporting?
GLTA
Bob
ELRA - email is down
This is an automatically generated Delivery Status Notification.
Delivery to the following recipients failed.
info@elraytechnologies.com
GLTA
Bob
ELRA reporting a profit would be a best case scenario.
If the company reached a point in the near future where they were making a profit on operations, I would expect the holders of Convertible Debt to attempt to sue to get ELRA cash on hand and any receivables on the books.
GLTA
Bob
ELRA - Split details:
http://ih.advfn.com/p.php?pid=nmona&article=71876939&symbol=ELRA
The split is 150 to 1. Assuming a starting price of .0001 the post split price would be .015.
As soon as the ELRA market opens, post split, there will be a race by all of the holders of convertible debt to sell as many shares as quick as possible to in effect collect the money that ELRA borrowed.
Since the convertible debt was over $2.5 million as of March 31, 2016 the convertible debt dilution will rapidly push the price back down to triple 0s. I would not be surprised to see triple 0s in as little as four weeks after the market opens post split.
GLTA
Bob
NOTE 3 – SETTLEMENT PAYABLE (From 3/31/2016 10-Q)
On December 20, 2013, the Company entered into a settlement agreement with Tarpon Bay Partners LLC ("Tarpon") whereby Tarpon acquired certain notes and accounts payable against the Company in the amount of $2,656,214. Pursuant to the agreement, the Company and Tarpon submitted the settlement agreement to the Circuit Court of the Second Judicial Circuit, Leon County, Florida for a hearing on the fairness of the agreement and the exemption from registration under the Securities Act of 1933 for the shares that will be issued to Tarpon for resale ("Settlement Shares"). 75% of the proceeds less all applicable fees and charges from the resale of the Settlement Shares will be remitted to the original claim holders of the Company ("Remittance Amount"). The Company agreed to issue sufficient shares to generate proceeds such that the aggregate Remittance Amount equals $2,656,214. Additionally, the Company agreed to issue a convertible note of $132,000, maturing in 6 months and convertible to the Company's common stock at a 50% of the lowest closing bid price for the 20 days prior to the conversion. The settlement agreement was effective on January 27, 2014 when the court granted approval.
On December 29, 2015, the Company issued Tarpon 4,101,000 shares which were sold during the three months ended March 31, 2016. During the three months ended March 31, 2016, the Company issued Tarpon 5,136,000 common shares which have been sold entirely. Net proceeds from the sale amounted to $933 was remitted to the original claim holders. As of March 31, 2016, the Company has settlement payable of $2,162,159.
GLTA
Bob
NOTE 2 – GOING CONCERN (From 3/31/2016 10-Q)
The accompanying unaudited consolidated financial statements of Elray have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company sustained a net loss of $209,553 for the three months ended March 31, 2016. The Company had a working capital deficit, stockholders' deficit and accumulated deficit of $10,568,307, $10,555,773 and $28,364,049, respectively, at March 31, 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.
GLTA
Bob
Another reverse split!!!
8-K
No surprise here.
GLTA
Bob
ELRA won't turn the corner until they get all of the Convertible Debt off of their books!
GLTA
Bob
ELRA - Market Cap $54k
Convertible Debt - $2.6M
Stay away, stay far away!
GLTA
Bob
The companies financing ELRA convertible debt will insist on another reverse split so that they can continue collections from ELRA.
GLTA
Bob
IBOX notes -
I have cleaned up all of the dead links and out of date information in the IBOX. I have also added links to SEC Filings and Press Releases.
The ELRA images at the top are active links!
The most important item added was a table from ELRA's most recent 10-Q that lists all of the convertible debt that the company is responsible for, which is collected through stock dilution.
GLTA
Bob
ELRA emeraldcity888.com site data
emeraldcity888.com data
Emeraldcity888.com has no global alexa traffic rank This site is estimated to be worth $192. This site has a low Pagerank(0/10). It has 0 backlinks. Emeraldcity888.com has 10% seo score.
GLTA
Bob
ELRA doesn't have any gas left in the tank!
GLTA,
Bob
IBOX message!
I have marked dead link messages in the IBOX. Later today I will delete these links unless someone can provide working links.
These include the interchange for Bitcoin usage so I will also delete all information about Bitcoins unless someone can provide current information that ELRA is in Bitcoins.
GLTA,
Bob
IMO GSM Fund Management, LLC is a major player in the multiple Reverse Splits!
I would even suggest that GSM Fund Management, LLC is actively manipulating ELRA share price to maximize collections on convertible debt!
From the PR:
* GSM has rights, under a Convertible Promissory Note, to own an aggregate number of shares of the Issuer’s common stock, which, except for a contractual cap on the amount of outstanding shares of the Issuer’s common stock that GSM may own, could exceed such a cap. GSM’s ownership cap is 9.99%. Thus, the number of shares of the Issuer’s common stock beneficially owned by GSM as of the date of this filing was 85,158,165 shares, as calculated in accordance with Rule 13d-3(d)(1) under the Securities Exchange Act of 1934, which is 9.99% of the 852,434,086 shares that were outstanding on that date.
ELRA PR concerning GSM Fund Management, LLC
http://ih.advfn.com/p.php?pid=nmona&article=71718319&symbol=ELRA
GSM Fund Management, LLC is a principal investment firm specializing in investments via convertible notes, credit facilities, block purchases of stock and private placements from syndicate deals. It provides an equity enhancement facility. It also purchases and restructures existing notes and other debt. It invests in companies operating in oil, gas, energy, renewable, media, entertainment, telecommunications, real estate, consumer products, technology healthcare, biotechnology, pharmaceuticals and medical devices. GSM Fund Management, LLC is based in Miami, Florida, with additional offices in Hong Kong, Bangalore, India, and Turkey, Istanbul.
Source:
http://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=81686423