Latest on Elray Resources Inc (OTCMKTS:ELRA), NanoTech Entertainment Inc. (OTCMKTS:NTEK) and Alibaba Group Holding Ltd (NYSE:BABA)

Posted In Business, Technology - By David Francis On Monday, September 22nd, 2014 With 0 Comments

Dallas, Texas 09/22/2014 (ustradevoice) – Elray Resources Inc (OTCMKTS:ELRA) also known as Elray Gaming has today announced the finalization of its Master Software Reseller agreement with Moorgate Commercial Ltd. This agreement will enable Elray Resources Inc (OTCMKTS:ELRA) to resell as well as operate the gaming software of Playtech Ltd. in Asia.

This agreement will help Elray in teaming up with Playtech Ltd. and Moorgate Commercial Ltd. to expand its Asian business and thus take advantage of the growing global market for online sports and casino games.

In yet another development, NanoTech Entertainment Inc. (OTCMKTS:NTEK), had announced on Sept. 19 about the demonstration of its UltraFlix application at three events to be held in 10 major markets which include Los Angeles, New York City, Boston, Chicago&Dallas. These events also include the Best Buy’s Ultra HD viewing event. The UltraFlix application will provide the required content and demonstrations I the events which will showcase 55” 4K Ultra High-Definition TV’s from Samsung, LG and Sony Corp (ADR) (NYSE:SNE).

Alibaba Group Holding Ltd (NYSE:BABA), which had seen a record IPO of $21.8 billion on Sept. 18 at a price of $68 per share, saw its share fall by more than 4% on Sept. 22. On Sept. 19, which was the first day of trading, the share saw a whopping return of 38% to close at $93.89 per share. In the year ending 31st March, 2013, Alibaba Group Holding Ltd (NYSE:BABA), had profits of $3.7 billion which makes it more profitable than the combined strength of Amazon.com, Inc. (NASDAQ:AMZN) and eBay Inc (NASDAQ:EBAY).

The company had offered a total of 320.1 million shares in the IPO. While some investors like banks and hedge funds got the opportunity to acquire the stock at the IPO offered price of $68 per share, others had to wait for the listing and buy it directly from the market at a premium on the day of listing.

About the Author

- David Francis earned a bachelor of arts degree in history from the New Orleans University and a master of arts degree in international relations from North Eastern University

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