Elray Resources Inc (ELRA)

[anon13333]

Something smells.

1. As previously posted, the numbers don't add up. A/S 1.7B pre split and 700M post split.

2. The only rationale I can come up with splitting a stock with O/S of 56M at .01 to 5.6M at .10 is to dilute at higher prices. Evidently the company did not believe the share price could get back to higher levels on its own merit. Dilution in the last two weeks has been not that evident. I am looking to see if dilution reemerges post split. As of now, I am still on the sidelines and this type of activity definitely keeps me on the sidelines.