Elray Resources Inc (ELRA)

[sweet crude]

Elray Mobile

...anyone else get this email this morning?

ELRAD to Expand Focus Towards Mobile Gaming with Elray Mobile
Date: Jan. 29, 2013 - 8:30am EST

(NEW YORK) –Elray Gaming, Inc., a developer of online and land based gaming projects, which is traded under the name Elray Resources, Inc. (OTC:ELRAD), indicates plans to expand its focus on mobile gaming with new division called Elray Mobile.

Along with their core business focus of providing turnkey solutions for both online, and land based casinos, the possible expansion into mobile gaming and asset acquisition could open the door for the company to broaden its breath and scope within its portfolio.

The new division, Elray Mobile, is expected to not only explore such projects such as mobile applications that would allow for gambling from mobile smart devices. Beyond that aspect, there could be other mobile projects such as mobile branding for large land based casinos around the world, mobile networking and system WiFi integration within casinos, or non-wage based games or mobile apps, such as informational directories, industry news, and social networking apps for people into the gaming world.

All of these branding apps could bring in much needed revenues from these large land based casinos looking to increase the brand name and mobile footprint to a whole new crop of gamers, and potential customers around the world.

This may open the door for ELRA to develop, or outsource, its own mobile development team to build customized mobile applications or solutions specifically for the gaming industry. Once developed, this new division could also open ELRA to make possible acquisitions within the mobile arena, and thus bring in operating assets to grow revenue growth, both externally and internally. www.elraymobile.com

There is still a lot to learn about this new business, and how Elray plans to mange and execute this new division, but overall this could only bring in new business expansion and revenue opportunities. Similar smaller cap plays expanding into the mobile gaming sector are Kenilworth Systems (KENS), Exchange Mobile Communications (EXMT), NanoTech Entertainment (NTEK), and Sebastian River Holdings (SBRH).

Current Valuation

As of Jan. 28, 2013, there was roughly around 12 million shares issued and outstanding, with a public float of around 6 million. Based on this structure, and the companies intention to keep the overall share structure maintained at these levels for the immediate term, then ELRAD could offer some upside potential on any plans to expanding their business into the mobile gaming sector. The stock recently closed at a price of $0.04, giving the company a current market capilization of roughly $480,000.

Mr Goodman the CEO of Elray Gaming commented that “The reverse split is simply a consolidation move by Elray and should be beneficial to all shareholders. Once complete it will allow Elray to focus on its core gaming business and generate revenue from projects that it had available prior to the Macau issues presented themselves.” Mr Goodman also said that “The Company has no intention of issuing large quantities of shares in the short term as the projects that the Company will now focus on have for the most part been funded ”

Possible Settlement for Damages

In recent weeks, ELRA has won several motions in their legal battle with Mr. Sio Lao, and Millennium Commodity Trading Pty Ltd in Nevada civil court. One of the first events Elray seems to have been successful with is the removal of Mr. Lao as a member of the Board of Directors, which can be viewed online at the Secretary of State of Nevada. (click here) ELRA has counter sued the plaintiffs (including Mr. Lao) for damages, and this could result in a substantial award or settlement in the company's favor if the final judgment goes their way. It is difficult to anticipate the outcome or the timing of any legal matter however after several months of numerous hearings and motions indications are that preliminary results have been positive, and any eventual award or judgment by the court in ELRA’s favor could be an extreme positive result to ELRA, and shareholder value.

Register Here for Updates

The story on ELRA is still unfolding, and we plan to provide updated coverage to our readers regarding ELRA, and the possible directions they may be heading. To receive updates on this company take a second to register online to our ELRA newsletter to get updates by going to http://www.wallstreetnewscast.com/request/elra.html

Current Gaming Portfolio

In addition to expanding their business into mobile gaming projects, the company currently holds the following projects under the ELRA portfolio.

* FOREX Trading Platform - the company has now gone live with their Forex binary option trading platform called Golden Matirx Binary (www.goldenmatrixbinary.com). The platform is now up and running and is generating revenues for the company as we speak. The number of current registered users trading on this platform are indicated to be in the range from 100 to 400+ users in its first month live, according to their public relations rep. To get a feel of the lay-out and functionality of our new binary option trading platform you can view a video on the ease of trading binary options with Golden Matrix by going to http://www.elraygaming.com/golden-matrix-binary.html

* Toolbar App - the company is currently finishing their 'beta test' phase for their toolbar app's called Crazy J Apps (www.crazyjapps.com). The first toolbar app is now live and available to download, and may have already been installed, and currently being used, by several thousand users. This product is also currently generating revenues fro the company currently.

* Penny Auction Technology - the company has acquired a Penny Auction Technology, which is a type of all-pay auction in which participants must pay a non-refundable fee to place a small incremental bid. When time expires, the last participant to have placed a bid wins the item and also pays the final bid price, which is purportedly significantly lower than the retail price of the item. The auctioneer makes money in two ways: the fees for each bid and the payment for the winning bid. These sites have been very popular, and have generated a lot of revenue for developers of these sites in the recent past.