Elray Resources Inc (ELRA)

[THREE-DAY-TRADER]

They can dilute & Rev Split all the time so long as they have shareholder approval & regulatory approval (FINRA, etc.). A rev split every 2-3 months is possible. Look at NEWL, SAPX, as examples.
I'm not predicting what ELRA will do, but replying to your post, to say that rev splits can happen consistently & you should not underestimate crooked management such as this.