Elray Resources Inc (ELRA)

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Im sure this family appreciates all your hard earned money!!!

Straight from 10-Q:

As of March 31, 2015 and December 31, 2014, the Company had accounts payable of $1,150,769 and $1,007,382, respectively, to its chief executive officer and a company owned by the chief executive officer for reimbursement of expense and compensation. As of March 31, 2015 and December 31, 2014, the Company also had $2,500 advance from its chief executive officer.



On May 15, 2013, the Company entered into an agreement with Jay Goodman, son of the Company’s chief executive officer, to provide consulting services assisting the Company with data segmentation, financial and statistical services. In consideration for such services, the Company pays $3,000 per month to Jay Goodman. As of March 31, 2015 and December 31, 2014, the Company has a $67,500 and $58,500 payable to Jay Goodman, respectively.