ITEM 5.03 AMENDEMENTS TO ARTICLES OF INCORPORATION OR BYLAWS
On June 27, 2016, Elray Resources, Inc. (the "Company") filed a Certificate of Amendment with the Nevada Secretary of State (the "Nevada SOS") whereby it amended its Articles of Incorporation by decreasing the Company's authorized number of shares of common stock from 1.5 billion to 10 million and decreasing all of its issued and outstanding shares of common stock at a ratio of one (1) share for every one-hundred fifty (150) shares held. The Company's Board of Directors approved this amendment on June 27, 2016. All fractional shares as a result of this reverse split will be rounded up. Pursuant to NRS Section 78.207(I), shareholder approval was not required for this amendment.
On June 28, 2016, the Company filed an Issuer Company-Related Action Notification Form with FINRA requesting that the aforementioned forward split be effected in the market.
The Company has requested FINRA effect the reverse split in the market on July 8, 2016.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
ELARY RESOURCES INC.
Date: June 30, 2016 By:
/s/ A. Brian Goodman
A. Brian Goodman
President
FINRA denied and SEC fined them.
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