Replies to post #54251 on Elray Resources Inc (ELRA)

[Phin]

Look at page 9 on the recent Q and the previous Q from August,
August Q - Principal Convertible Notes - $4,883,990
Recent Q - Principal Convertible Notes - $4,029,211
So they decreased their Note Debt by +$800k, isn't that good news?

[jprise]

It's my opinion that a lot more of the debt has been converted than is shown in the Q. Look at the chart. High volume didn't start untl after the cut off period for the Q. You can't honestly look at those 400 ~600 mill volume days and tell me you don't think a lot of shares were converted during the past couple months?