Elray Resources Inc (ELRA)

[RGJack]

Thanks for pointing all of ELRA's liabilities. Yes, clearly the financing situation is far from ideal... However this is the case with all other otc stocks out there. The shares have more than doubled since last November where ELRA hit 0.15 however the company also made progress since then. We all know about the high legal and development expenses incurred in 2013. That didn't stop ELRA from trading above the 0.05 range for a good period of time.

The 250k while small in terms of dollar amount is significant for ELRA as that will show in the next 10q as the first quarter where ELRA did generate some revenue. Shareholders are here to stay and look at what the exchange and simRacing platform can generate in terms of revenues. Legal and development expenses will reduce this year as products enter roll out phase.

The big dilutions are out of the way now and we are still under 100 million in OS. Not many otc companies have this kind of share structure. Of course the company needs to execute on those product roll outs for any shareholding to be meaningful. They seem to be working hard on that... Attending conferences etc.