ELRAY RESOURCES, INC. - 27 Jul 2025 Form 4 Insider Report for ETHZilla Corp (ATNF)

Role
Former 10% Owner
Signature
Elray Resources, Inc., by /s/ Anthony Brian Goodman, CEO
Issuer symbol
ATNF
Transactions as of
27 Jul 2025
Net transactions value
-$4,238,586
Form type
4
Filing time
18 Aug 2025, 17:27:22 UTC
Previous filing
11 Apr 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
ELRAY RESOURCES, INC. Former 10% Owner 3651 LINDELL ROAD, SUITE D131, LAS VEGAS Elray Resources, Inc., by /s/ Anthony Brian Goodman, CEO 18 Aug 2025 0001402371

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ETHZ Common Stock Exercise of in-the-money or at-the-money derivative security $5,040,000 +3,000,000 +228% $1.68 4,318,000 27 Jul 2025 Direct F2
transaction ETHZ Common Stock Sale $5,040,000 -1,680,000 -39% $3.00 2,638,000 27 Jul 2025 Direct F1, F2
transaction ETHZ Common Stock Sale $481,515 -135,257 -5.1% $3.56 2,502,743 07 Aug 2025 Direct F2, F3
transaction ETHZ Common Stock Sale $2,472,752 -777,595 -31% $3.18 1,725,148 08 Aug 2025 Direct F2, F4
transaction ETHZ Common Stock Sale $1,284,319 -405,148 -23% $3.17 1,320,000 11 Aug 2025 Direct F2, F5

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction ETHZ Common Stock Purchase Warrants Exercise of in-the-money or at-the-money derivative security $0 -3,000,000 -100% $0.000000 0 27 Jul 2025 Common Stock 3,000,000 $1.68 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

ELRAY RESOURCES, INC. is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 On July 27, 2025, Elray Resources, Inc. exercised Common Stock Purchase Warrants to purchase 3,000,000 shares of the Issuer's common stock at an exercise price of $1.68 per share. Elray Resources, Inc. paid the exercise price on a cashless basis, resulting in the Issuer withholding of 1,680,000 of the warrant shares to pay the exercise price and issuing to the reporting person the remaining 1,320,000 shares.
F2 Includes 1,318,000 shares of Common Stock that are expected to be repurchased by the Issuer following the date of this Form 4 pursuant to the terms of that certain Settlement and Release Agreement dated and effective April 23, 2024, by and between the Issuer, Elray Resources, Inc. and Luxor Capital, LLC, as previously disclosed.
F3 This transaction was executed in multiple trades at prices ranging from $3.83 to $3.40, inclusive. The price reported above reflects the weighted average sales price. The Reporting Person hereby undertakes to provide upon request to the Securities and Exchange Commission staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.
F4 This transaction was executed in multiple trades at prices ranging from $4.84 to $3.00, inclusive. The price reported above reflects the weighted average sales price. The Reporting Person hereby undertakes to provide upon request to the Securities and Exchange Commission staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.
F5 This transaction was executed in multiple trades at prices ranging from $3.37 to $3.00, inclusive. The price reported above reflects the weighted average sales price. The Reporting Person hereby undertakes to provide upon request to the Securities and Exchange Commission staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.