Momentum Players

[steeledge]

ELRA bitcoin play; getting found today

http://finance.yahoo.com/news/ludlow-research-upgrades-elra-based-151500127.html

NEW YORK, Nov. 12, 2013 (GLOBE NEWSWIRE) -- Elray Resources, Inc (ELRA), through its online gaming and turnkey solution subsidiary Elray Gaming, announced research upgraded based on recently announced Bitcoin Joint Venture with one of Asia's leading Social Game Developers.

Report Highlights

- Joint Venture with one of Asia's Largest Gaming Developers
- Developing Bitcoin and Universal Credit Exchange
- 80 Million Players in the Network
- 2 Management Contracts for Online Casino Operators
- 29 Million Shares Outstanding
- Valuation Target $0.30 to $0.40 ($10 to $12 million market cap)

On Nov. 07, 2013, the Company announced a joint venture with one of Asia's leading social gaming developers to created Global CXC, which will allow players to exchange credits from various social gaming networks, and also interchange credits for Bitcoins. Global CXC will initially provide the exchange for the one Social Gaming Network of over 80 Million players, an online casino network, and online merchandise store.

Users will be able to freely exchange credits for the social gaming platform, the online casino, and variety of merchandise utilizing Bitcoins to acquire credits, hereby creating a virtual exchange for the 80 million existing users. Global CXC will add additional Social Gaming Networks, Merchandise Stores and Casinos over time and capitalize on the rapidly growing social networks as well as Virtual Currency opportunities.

Based on their planned development of one of Asia's largest Bitcoin credit exchanges, access to nearly 80 million players for their current and upcoming casino gaming platforms, and with only 29 million shares outstanding, Elray Gaming may offer a unique valuation opportunity at these levels.