Elray Resources Inc (ELRA)

[Taylor Orion]

That is decent, but the amount of dilution required for that debt reduction was aeound 1 B shares. The conversion terms on most of the notes have 40-50% of the lowest three trading days in the past (x) length of time. So their revenues must be increased dramatically or stock value must increase significantly to be able to sell shares at a lesser rate than the current dilution requirements.