Elray Resources Inc (ELRA)

[M_T_Pockets]

Hi Star, my take, and it is just reading between the lines, is Mr. Lao Sio promised some things that he later could not provide. (he overestimated his ability to consummate the deals)
It is a very different world in China. Much of the business deals are done based on "knowing" or having influence with the right officials.
Looks like Mr. Lao may be out of favor with the "right official".
JMHO.
I think we will find out more soon. Unfortunately we may lose a lot of our stock value without more information. I hope not, but you know how some investors are.
Good Luck to all.
ELRA