NEW YORK, May 3, 2016 /PRNewswire/ -- Elray Resources Inc. (OTCPK: ELRA) trading as Elray Technologies announced record revenues of over 3 Million Dollars.
Revenues for the 12 months ending 2015 were $3,088,180.00, over 13 times the previous year's Revenues.
General and Administrative Expenses were also reduced by 34% from $2,311,608 to $1,511,526 compared to financial year 2014
Brian Goodman, CEO stated that, "Elray has had a solid past year and is looking to continue these excellent achievements in 2016. The company will launch some exciting new products as part of its growing portfolio that will capitalize on the SEC's recent decision with regard to the JOBS Act and as such will focus specifically on the exponentially growing Crowd Funding market, this should further bolster what is already a business with good growth and opportunity and strengthen our recognition in the industry."
Elray is an established Gaming entity which owns and licenses Gaming Intellectual Property, Gaming Domains, Trademarks and Player Databases. Whilst Elray is a US company, we have a global presence with offices in London, South Africa and Sydney, homes of the largest gaming operators, which helps us actively manage and serve our clients. Our sophisticated software automatically declines any gaming requests from within the United States, in strict compliance with current US law.
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities, and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the Company's business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in the Company's periodic filings with the Security and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements.
Our sophisticated software systems automatically decline and denies any gaming requests from within illegal gaming jurisdictions including but not limited to the United States, Hong Kong, Singapore, United Kingdom, France, Italy and Israel and prevents any access to the products that we support from any of these jurisdictions ensuring that residents of these countries cannot participate and are in strict compliance with the laws of these countries.
We comply with all regulations, rules and directives of governmental authorities and agencies applicable to online gaming. Regulations relating to online gaming vary significantly in different jurisdictions. Various sophisticated methods are utilized prior to acceptance of deposits to ensure that funds are only accepted from gamers in jurisdictions in which we are legally entitled to provide services.
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SOURCE Elray Resources Inc.