Elray Resources Inc. (OTCPink: ELRA) has finalized an agreement to acquire an initial 25% stake in an operating and established online casino by the name of Golden Galaxy, but the financial terms of the deal were not disclosed.
According to Elray, Golden Galaxy has generated $6.9 million of turnover in the last 12 months, 5,487,361 games have been played by over 21,142 registered Players. Golden Galaxy Casino offers over 250 casino games including Blackjack, Roulette, Baccarat and Slots.
As part of the deal, Elray also has options to acquire additional percentages of the casino based on Golden Galaxy achieving profit milestones, which were also undisclosed.
On Sept. 30, Elray’s share volume was robust, with 59 million shares changing hands, higher than its 30-day average volume of 58 million shares.
This latest announcement comes on the heels of the Sept. 22 news that the penny stock had finalized a Master Software Reseller Agreement with Moorgate Commercial Limited.
Online-Gaming Presence in Asia
In terms of this agreement, Elray Gaming will be permitted to resell and operate the Playtech Ltd. Gaming Software in Asia.
According to Elray, Playtech is the world's largest online gaming and sports betting software supplier. It was founded in 1999 by entrepreneurs from casino, software engineering and multimedia industries, the company has become the strongest player in the market of gaming solutions, Elray says.
Playtech has a market capitalization of more than 3.3 billion and a net income of more than $815 million.
Elray said it will work closely with Moorgate and Playtech Ltd to build its Asian business and capture piece of the global market expected to soar to $117.9 billion by 2015.
ELRA’s stock value closed at 0.0069 cents, down 0.0003cents, or 4.17%, from its close of 0.0072 cents the previous day.
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Mass Hysteria Entertainment Co.’s Stock Value Increases 18.18%
On Sept. 30, Mass Hysteria Entertainment Co. Inc.’s (OTCPink: MHYS) stock was one of the most active penny stocks, with 613 million shares changing hands, nearly 3 times its 30-day average volume of 224 million shares.
In addition, its share price closed at 0.0013 cents, up 0.0002 cents, or 18.18% from previous day‘s close of 0.0011cents.
The spike in stock volume and value comes on the heels of the news that the fledging Sherman Oaks, Calif.-based movie studio is co-financing a new movie starring Keanu Reeves.
The amount of money Mass Hysteria is investing into this production was not disclosed.
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Drone Aviation Holding Corp. Stock Volume and Value Flat
On Sept. 30, Drone Aviation Holding Corp. (OTCQB: DRNE) experienced flat stock volume, with just 411,969 shares changing hands, significantly lower than its 30-day average volume of 599,816 shares.
This comes just a few days after an announcement from the Jacksonville, Fla. drone maker that a wholly owned subsidiary Drone Aviation Corp. had delivered to an unnamed state agency an advanced day/night specialized video imaging package for use on its Blimp in a Box®-100 aerostat system.
While this sounds enticing enough, the press release lacks the specificity needed to sustain any real investor enthusiasm. Especially since Drone Aviation has lost more than 50% of its share value since Sept. 3.
Weak Quarterly Report
Moreover, the company’s latest 10Q, reporting the period ending June. 30 was not good.
Here’s a summary:
$391,000 net loss$1.7 million cash on hand
$2.8 million in current liabilities
$124,000 in revenue
On Sept. 30, the share price of DRNE closed at 37 cents, down 2 cents from previous day‘s close of 39 cents.
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Mind Solutions Loses 32.5% of Its Share Value
Mind Solutions Inc. (OTCPink - VOIS) share volume continued to skyrocket Sept. 30, with 136.8 million shares changing hands, 11 times its 30-day average volume of 53 million shares.
Yet, the San Diego technology company lost nearly one-third of its share value, with VOIS’s share price closing at 0.0054, down 0 0.0026 cents, or 32.50%, from the previous day’s close of 0.008 cents a share.
The sudden downward trend comes despite of the seemingly positive news that the company has been selected to be featured on Money TV on Thursday, Oct. 2nd, 2014. Mind Solutions said it plans to unveil its recently developed mobile BCI (brain-computer-interface) device which operates smart phones and computers through the power of thought.
Money TV is a television program broadcasting to more than 160 Million TV homes throughout the world in more than 75 countries. The interview on Money TV will also air on Money Rap radio for additional exposure.
The product, like Google Glass, is a wearable electronic device with a single dry sensor receiving EEG signals from within the ear. This creates a very mobile product that Mine Control says is extremely user-friendly. This mobile EEG device is expected to operate smart phones and computer devices with the power of your mind. As electrical impulses are received, the device translates thoughts into actions on your mobile device or computer.
The applications for the device are limitless, according to Mind Solutions. The company said it has already developed applications that allow users to navigate the entire computer and play any PC video game using only the power of their mind via the Emotive headset.
Find out what could be the best investor’s move when it comes to KGET by getting the complete report here or by cutting and pasting the following link in your Web browser:
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