Elray Resources Inc (ELRA)

[Taylor Orion]

I read the part about the company taking "appropriate measures to restrict the transfer of securities", but no specifics on the actual restrictions applied. There still could be something that the company missed or failed to appropriately restrict. The noteholders were also allowed to transfer their securities to other parties, and that may be the transfer restrictions being spoken of, whereas they might still be able to sell the shares and just not transfer the securities to non accredited investors.