Latest Updates & Insights on Elray Resources Inc (OTCMKTS: ELRA)

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Las Vegas, NV -- (SBWIRE) -- 12/02/2013 -- Elray Resources Inc (OTCMKTS: ELRA) issued the income statement for quarter ended September 30, 2013. The company mentioned that there were no revenues in the last four quarters and that the net loss is increasing.

Elray did not pay any cost of revenues but there was selling general and administrative expense of $0.97 million. The interest expense for this quarter was $0.22 million. The operating loss of the company is $0.97 million and net loss is $1.18 million. Net loss is higher than $0.82 net loss of second quarter of the year.

Elray Resources, Inc. is an under developed company. The company deals with the exploration and acquisition of mineral properties of discovered deposits. The company holds 100% interest in Porphyry Creek, which is 90 square kilometer copper and gold. Property is located in Cambodia. The company did not earn any profit since December 31, 2011.

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