Elray Resources Inc (ELRA)

[Taylor Orion]

They already stated subsequent share issuances of 849 MM shares after the Q period ending, I believe. It should have wiped another 1-1.5 MM debt out, all in that single month. However, they also issued more convertible notes. (I still am holding a small position here, in hopes of that publication of high November wagering rates.) They should be pulling about 2.5% of all wagering activities, which does show a rather significant increase in revenues, but still going to need more. The conversion rates are my main concern. They haven't been very successful in paying notes early so far, so my confidence of that is not very high. All depends on the November numbers and sign of significant increase in wagering activities, or confirmation of break in on Chinese market.