North Bay Resources Inc (NBRI)

[es1]

hoping it is a fantasy wont help. You should actually do the math.

What is the conversion rate?

2,215,000 shares were issued to satisfy $1,938 of the outstanding principal and interest .....

.0008

What is the average PPS following the conversion date for 2M shares??
On April 6, 2015, the Registrant accepted a conversion notice

it took 4 days to create 2M in volume.

The lowest PPS was .0019
the highest .0029
Average is right around .0023


Now do the math

2,215,000 x .0023= $5094

At the highest...
2,215,000 x .0029 = $6423

At the low...

2,215,000 x.0019 = $4208


And what did I say?
"it is closer to $5k then $2K

To make that fantasy math work requires that they got the shares and $3,000 cash to begin with.

Wrong.
In order for the math to work you have to understand a 30% discount on the lowest VWAP for a month and use the difference between cost and sales.

The only fantasy here is that NBRI has ANY value at all.


Please try again

And I will head off the only possible argument...
the 13th was not the day that the 2M were sold so don't try to make the math work on that one day.... it wont anyway.

On April 13, 2015, April 14, 2015, and April 16, 2015, the Registrant accepted three conversion notices from KBM Worldwide, Inc. ("KBM ") to partially satisfy a $98,500 Convertible Promissory Note Agreement

The following weeks conversions are covered on a different 8k