ELRA Legal Battle Shows Positive Update
Date: March 25, 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:ELRA), has recieved positive ruling this past weekend that may have a positive reaction on the stock.
According to the Nevada Clarke County court website, notes from the case against Mr. Loa, and Millennium Commodity Trading Pty Ltd, show Mr. Loa must now provide requested documents from past hearings, and if he fails to do so very soon could result in a court ruling to "compel" Mr. Loa to present these documents, or risk losing the case, with judgement going to ELRA.
This could result in ELRA not only winning their legal battle against prior deal, but also open the door to potentially tens of millions in damages. This court update could very well have a positive effect on ELRA share price this week, and by looking at the chart (see attached) you can see the market and people behind this case also notice the potential postive win for the company.
ELRA closed Friday at $0.085 per share, and current has around 12 million shares issued and outstanding.
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