The benefits of following us on Twitter (TWTR) paid off big time today when AimHighProfits followers banked up to 81% on the penny stock of Elray Resources, Inc. (ELRA). Effectively using the word “bitcoin” in their most recent PR’s, ELRA stock went viral shortly after our Tweet went out allowing those gamblers who hedged that Asher Enterprises wouldn’t dump shares. Without a penny in revenues and tens of thousands of dollars in convertible notes payable to a number of toxic financiers, the online gaming wannabe made for a Terrific Tuesday Treat.
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ELRA Stock Quote
Market Cap: 2.91M
Last: 0.1146 ▲ +0.0446 (+63.71%)
Dollar Volume: $955,895
Issued and Outstanding: 25,411,223
14-Day Rel Strength: 77.36%
1st Resistance Point: 0.1557
1st Support Level: 0.0729
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Scanning the OTC Markets like we always do during the first hour of trading, we stumbled upon ELRA stock and the bullishness that it was displaying. This immediately caused us to perform a quick due diligence review of Elray Resources which lead to the 10:39AM EST Tweet:
Admittedly, the Tweet wasn’t a very bullish one, but when you had a look at the level 2 of ELRA, you could see that this was a trade worth doing even though there was 211,018,516, and 103,000,000 shares of Series A preferred stock, and Series B preferred stock, respectively, issued and outstanding as of November 4, 2013 on top of the 25,411,223 which most paid attention to.
With luck on our side (as ususal when we pick penny stocks to play), ELRA stock kept on surging despite the fact that the only thing Elray Resources has going for it is their ability to use the word “BitCoin” in their PR effectively. One article we came across stated: Online gambling turnkey solution outfit Elray Gaming is branching out into the mobile gaming world with the launch of Elray Mobile. Elray CEO Brian Goodman said the plan was to ”develop and acquire operating mobile gambling technology companies” in order to “position itself as a player in the social gaming and mobile casino industry.”
That would appear to be a very positive statement about Elray Resources, but, in reality, could not be further from the truth. In fact, it wouldn’t be a shocker to see within their revenueless SEC filings the following: Asher Enterprises, Inc., through their partially-owned subsidiary, Elray Resources, Inc., is a ……
It’s not just Asher Enterprises that is milking the way Elray Resources structures their shares. Portspot Consultants Limited, Pancar Capital LLC, Rousay Holdings Ltd. and JSJ Investment, Inc. all were privileged enough to have loaned money to Elray for the benefit of getting some cheap shares of ELRA stock that the typical trader wouldn’t suspect even existed.
What shocked us the most was that, subsequent to their 3 period ended September 30, 2013, Elray Resources, on October 24, 2013, entered into a convertible promissory note with Asher Enterprises, Inc. for $27,500 (the “Ninth Asher Note”). The F#*%ing 9th Note!?!?!
Elray just, in October 2013, issued Asher Enterprises 2,573,643 shares of ELRA stock for the conversion of the outstanding principal and accrued interest of the 4th Asher Note in the amount of $7,400 and part of the outstanding principal of the Fifth Asher Note in the amount of $12,000. At a cost basis of $0.0075 per share, Asher made out like bandits today and will continue to do so as long as BitCoin keeps dumb money flowing into ELRA stock.
About ELRA Stock
Elray Resources, Inc. is a development stage company in the process of developing an online casino and related technologies to provide gaming to customers where such activity is legal.
Last 5 Trading Sessions:
Lady luck was on this penny stock today like a braless bucking bronco rider leaves a wetspot. The chances of ELRA stock continuing to keep up this pace and maintain itself above the dime level are slim making Wednesday morning an Asher Enterprises controlled bid-slapping possibility. Assuming the dip is early, keep a close eye on ELRA for a mid-day bounce before it goes to sleep. Should it keep up the pace, roll it around in flour and look for the wet spot, just don’t let your friends see you doing it.
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