Replies to post #6684 on Elray Resources Inc (ELRA)

[azguitarist]

That has a nice piece of info in there. I wonder if this could be from the acquisition outlined in the 10-Q

* Penny Auction Technology - the company has acquired a Penny Auction Technology, which is a type of all-pay auction in which participants must pay a non-refundable fee to place a small incremental bid. When time expires, the last participant to have placed a bid wins the item and also pays the final bid price, which is purportedly significantly lower than the retail price of the item. The auctioneer makes money in two ways: the fees for each bid and the payment for the winning bid. These sites have been very popular, and have geenrated a lot of revenue for developers of these sites in the recent past.

[sweet crude]

Grossly Oversold Here

My take you had some people who bought in for Macau merger and when that went south they held to see what happened, but as this dropped below .004 they paniced and are just bailing.

If the case, then once they are cleared out you could see this bounce right back to the .005 range, IMO. Another good point is if you do have some peopel who are like 'ok, just get me out of this'...their block of sock can be easily cleared out doen at tehse levels then opposed to higher price. The faster they clear out the better.

ELRA has working gaming projects now, generating revenues, we just have to show this off to some otehr gaming or Forex trader and that little bit of volume will pop this right back up.

ELRA - way oversold