Replies to post #25365 on Elray Resources Inc (ELRA)

[integral]

The CEO hiding this transaction is shady. What else is he hiding?

Also, my thoughts on the R/S. It could be that the convertible note holders use a B/D whose clearing firm will no longer take sub pennies.

Really no real reason to do a 1-10 reverse and hide it from the shareholders as well.

Also, reversing the stock by a multiple of ten, however amending the Authorized from 1.7B to .7B is not any where near an reduction by a multiple of ten.

So he has many shares to issue, my guess are the convertibles.

[Garyst]

True. The # of shares in the float now after the split will be insanely low.