Elray Resources Inc (ELRA)

[Eddo1976]

We generated $158,921 revenues during the three months ended September 30, 2017 compared to $676,923 for the three months ended September 30, 2016. Revenues for the three months ended September 30, 2017 was related to the marketing tools and CRM systems provided to customers. Started from August 1, 2016, due to compliance and legal environment concern, the Company modified its business model and changes its role to be an agent. Therefore, revenues recorded after August 1, 2016 was presented net with software usage costs. As a result, revenues for the three months ended September 30, 2017 decreased significantly as compared to revenues for the three months ended September 30, 2016.