Elray Resources Inc (ELRA)

[Garyst]

Yup, 1 share for every 30 that you had and the pps adjusts accordingly so in essence everyone had the same $ amount starting out today as they had yesterday at the close at 0001 with the pps adjusting to 003.

now it has to hold that level otherwise people will lose $ if we fall and it would be the equivalent of going lower than 0001.

For instance, In April of this year we had a 1 for 10 share split. The level it split at was 008 and after the split the pps went to 08 (10 times higher) but we all had 90% less shares. We were all break even after the split at 08. The problem was from April we went from 08 to 0001 yesterday so not only did we all lose 90% of our shares on the April split but the pps fell 99.99% since that time which is what wiped all of us longer holders out. Hopefully that scenario doesn't play out here this time.