North Bay Resources Inc (NBRI)

[Anvil]

Ok, Form 10k out. Give very low marks to the auditor in a variety of matters. The thing I was really looking for and was not addressed was how is the company making the Ruby mine payments of $60k/mo.

At 12/31/14, the company has $30k+ in cash and per the most recent pr by Perry, whenever that was, he said they took on now new debt. Well since year end and today, just the Ruby note needed $180k, with another $20k due tomorrow.

The Company says it will fund itself via J/V's, Claims sales and reliance on the $10MM equity line with Tangiers. Really, with Tangiers sitting on $900k of converts, they are going to fund the equity line instead of converting the existing debt.

Makes no sense.

They do say mining of the Ruby is expected in Q2 2015.

FWIW