Elray Resources Inc (ELRA)

[Chaebol]

Here's whats in store for ELRA shareholders based on the 8k
- Ludlow Capital based their $.05-.10 short term target on 3B o/s post merger but since the deal is ALL PREFERRED the o/s will instead be around 1.15B (845M o/s + 300M preferred).

Minimum 30M net profits / 1.15B o/s = .026 EPS
Based on the value estimates of other publicly traded Macau gaming companies a conservative PE Ratio would be around 10 to 15.
P/E ratio of 10 to 15 x .026 EPS = $.26 to $.39 per share ($26 to $39 post-NASDAQ listing)!!!
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8601179
http://www.wallstreetnewscast.com/news/2012/may/elra-2745.html