Elray Resources Inc (ELRA)

[anon13333]

Massive dilution is what is going on. According to OTC Markets,

http://www.otcmarkets.com/stock/ELRA/profile

here are the stock splits since 2007

Capital Change=shs increased by 10 for 1 split Ex-date=12/18/2007. Rec date=12/14/2007. Pay date=12/17/2007.

Capital Change=shs decreased by 1 for 100 split Ex-date=01/25/2013.

Capital Change=shs decreased by 1 for 10 split. Ex-date=05/02/2014.

Prior to the 1 for 100 reverse split in 2013, there were 2.5 billion shares outstanding. If you factor in the recent 1 for 10, that would equate to 25 Billion shares. Just say, "wow." With the amount of convertibles coming due, there will be further dilution and further reverse splits. ELRA's current share structure is probably over over 10 million issued and outstanding and growing each day. I don't any way that a currently share holder can get their money back. HHG indicated you could probably trade it, but that is very difficult because no one knows when this dilution will slow to allow the stock to rise. Last week, there was an opportunity, but it was short lived and very risky. With today's close and the current bid, anyone and everyone that holds this stock is underwater. I hope people can make enough money on other trades to balance out the losses being produced by this awful company.