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Risicare - humm
- They are deleting posts - so I posted this here
May 21, 2008 2:00:39PM EST
google
johnb_ordynuik
GO TO post
May 21, 2008 2:00:39PM EST
"in my world that means negociations."
No, I am not negotiating with PDGT.
The patent will be sold to another company unless..... I am exploring the possibility of purchasing a pink-sheet shell/OTCBB shell to roll IP and operations into. I am amazed at the number of people willing to invest in a company with little or no revenue, little capital, and poor management. This would be different as I do have revenue, contracts, and IP, management with real CVs.. and God forbid, could issue PR's that weren't based on BS.
Risicare - CEO may have history posting on
penny stock boards
- They are deleting posts - so I posted this here
google
johnb_ordynuik
also past history here
http://yahoo.brand.edgar-online.com/default.aspx?cik=1415602
Item 1.01 Entry Into A Material Definitive Agreement
As more fully described in Item 2.01 below, we acquired a technology company that reads legacy data computer tapes and extracts and recovers data contained in the tapes in accordance with a Stock Purchase and Share Exchange Agreement dated February 10, 2009 (“Exchange Agreement”) by and among Expedite 2, Inc., (“Expedite”) a company incorporated under the laws of the Delaware, John Bordynuik, Inc. (“JBI”), an Ontario Corporation, and each of the shareholders of JBI (the “JBI Shareholders”). The close of the transaction (the "Closing") took place on February 10, 2009 (the “Closing Date”). On the Closing Date, pursuant to the terms of the Exchange Agreement, we acquired all of the outstanding shares (the “Interests”) of JBI from the JBI Shareholders; and the JBI Shareholders transferred and contributed all of their Interests to us. In exchange, we issued to the JBI Shareholders, their designees or assigns, 58,521,000 shares of our common stock or 99 per cent of the shares of Expedite common stock issued and outstanding after the Closing.
A copy of the Exchange Agreement is included as Exhibit 2.1 to this Current Report and is hereby incorporated by reference. All references to the Exchange Agreement and other exhibits to this Current Report are qualified, in their entirety, by the text of such exhibits.
Pursuant to the Exchange Agreement, JBI became a wholly-owned subsidiary of Expedite. The directors of Expedite have approved the Exchange Agreement and the transactions contemplated under the Exchange Agreement. The directors of JBI have approved the Exchange Agreement and the transactions contemplated thereunder.
This transaction is discussed more fully in Section 2.01 of this Current Report. The information therein is hereby incorporated in this Section 1.01 by reference.
Expedite 2 Sold for $30K
Posted July 28, 2008 1:00PM
John Bordynuik purchased all the outstanding shares of Expedite 2, a Form-10 shell, for $30,000.
Expedite 2, part of a series of five shell companies created in 2007, was controlled by Sheila Hunter, a British Columbian caterer. Hunter resigned as part of the sale to Bordynuik.
Bordynuik is the founder of John Bordynuik Inc., which develops sophisticated magnetic storage devices to recover data for the Massachusetts Institute of Technology, the U.S. Army, and NASA, according to filings with the Securities and Exchange Commission.
Bordynuik also was granted U.S. patent for a dirty bomb detector in 2006.
Filing: 8-K
http://reversemerger.dealflowmedia.com/wires/072808.cfm
dirty bomb detector =
RadDetect PRD 1250 Personal Radiation Detector
Which PDGT was claiming to have rights too ?
formerly: Expedite 2 Inc
0001415602 John Bordynuik, Inc
(SERVICES-PREPACKAGED SOFTWARE )
Some history
Expedite 2 Sold for $30K
Posted July 28, 2008 1:00PM
http://reversemerger.dealflowmedia.com/wires/072808.cfm
John Bordynuik purchased all the outstanding shares of Expedite 2, a Form-10 shell, for $30,000.
Expedite 2, part of a series of five shell companies created in 2007, was controlled by Sheila Hunter, a British Columbian caterer. Hunter resigned as part of the sale to Bordynuik.
Bordynuik is the founder of John Bordynuik Inc., which develops sophisticated magnetic storage devices to recover data for the Massachusetts Institute of Technology, the U.S. Army, and NASA, according to filings with the Securities and Exchange Commission.
Bordynuik also was granted U.S. patent for a dirty bomb detector in 2006.
Filing: 8-K
SERVICES-PREPACKAGED SOFTWARE
formerly: Expedite 2 Inc (filings through 2009-02-13)
http://www.sec.gov/cgi-bin/browse-idea?action=getcompany&CIK=0001415602&owner=exclude&count=40
He invented and has a patent on the following product
RadDetect PRD 1250 Personal Radiation Detector
http://www.kaboodle.com/reviews/raddetect-prd-1250-personal-radiation-detector
-----------------------------------------------------------
THEN READ BELOW - FOR CURRENT HISTORY
------------------------------------------------------------
310 Holdings Inc. Announces Detailed Update for All Shareholders and Prospective Investors On the Definitive Agreement
NIAGARA FALLS, Ontario, Jul 15, 2009 (GlobeNewswire via COMTEX) -- 310 Holdings Inc. (OTCBB:TRTN) today announced that it completed a definitive agreement to acquire and continue tape data migration and transcription services of John Bordynuik Inc., an agreement that was signed on June 25, 2009.
With this agreement, 310 Holdings Inc. purchased certain assets of John Bordynuik Inc., including its custom tape processing hardware, its Swahili data migration system, fixed assets, and its current customer base. The consideration for the acquisition of the assets is shares of 310 Holdings Inc. restricted common equal to the value of the assets. An 8k is being filed shortly that includes asset details and a proforma financial statement for the tape operating profit center only.
Through the agreement, 310 Holdings Inc. is able to use the specialized hardware and software to immediately service existing clients of John Bordynuik Inc., which includes processing thousands of tapes from NASA.
Since the agreement was signed, 310 Holdings Inc. has processed tapes including HRIR data for Apollo 14, Apollo 15, Nimbus III, and Nimbus IV, and is currently processing Viking Lander I tapes. As part of its data migration profit center, the Company has expanded its repertoire to include imaging of both film and microfiche, and is doubling the resolution of solutions that is currently on the market.
310 Holdings Inc. will continue to charge a flat rate fee of $22 per tape for volume data recovery migration services. None of JBI's liabilities are being assumed by 310 Holdings Inc. The fixed assets are presently valued at approximately $500,000 after depreciation. This equipment includes in excess of 15 multi-core HP servers in a cloud configuration, dozens of HP workstations, a complete 40-foot mobile data recovery container loaded with 18 tape drives and JBI technologies to read tapes off-site; another 45 customized tape drives; and other related supporting assets.
This is an arms-length agreement between 310 Holdings Inc. and John Bordynuik Inc. by President and CEO John Bordynuik, who is the majority shareholder in both 310 Holdings and John Bordynuik Inc.
John Bordynuik, President and CEO of 310 Holdings Inc., said, "While we were only able to recognize revenue from the tape processing for the last two days of the quarter, this acquisition has made us profitable immediately and will be detailed in our quarter financials that will be released shortly."
Private Placement:
310 Holdings Inc. is also announcing a $3 million private placement for stock and long term warrants in the company. This stock will be sold at above market prices and will not dilute existing shareholders as John Bordynuik returned 10 million shares to the treasury to facilitate growth.
The capital is being raised to facilitate two future acquisitions that align with 310 Holdings Inc.'s growth model.
Management would like to note that this private placement is intended for shareholders looking to grow long-term with the Company, and not for flippers or traders. The issuance of long-term warrants along with above-market purchase prices was instituted to place the Company's stock in strong hands with those who want to assist the Company in moving to a larger exchange. 310 Holdings will be filing a Prospectus with the Ontario Securities Commission in order to facilitate future private placements within the Province of Ontario, and a Regulation D filing with the SEC.
310 Holdings Inc. will use these funds to acquire profitable companies whose owners and management are looking for stock-based incentives and/or retirement. These target companies must have consistent revenues, be are already profitable, and will benefit from an injection of the Company's technology to facilitate rapid growth.
Management would like to address the questions directed at the Company regarding trading on the OTCBB exchange. Management is not particularly satisfied with trading on this exchange and is working to move to a higher exchange as soon as possible. It is premature to explore this until the Company's share price meets the minimum requirements of a higher exchange. Management has been in discussions with market makers and they have advised that they will create a market for the Company on a larger exchange. Management is confident that the revenue requirements will be satisfied, but we have not yet satisfied the number of shareholders and minimum share price requirements. As of today, there are more than 250 shareholders of 310 Holdings on record, but more is required to move to a larger exchange.
Plastic2Oil:
Plastic2Oil will convert tires to oil at a yield of approximately 45 per cent fuel and the remaining byproducts are carbon powder and steel wire.
A gas chromatograph is being installed at this moment. The Company will be releasing detailed results shortly.
The Company is presently negotiating long-term agreements to acquire raw materials at no cost or negative cost to the Company, including transportation expenses paid by the supplier. Presently municipalities pay to direct these materials to landfill and are willing to direct these materials instead to 310 Holdings Inc. given that the fees to receive those materials are less.
The Company will demonstrate its technology on a small scale with a small Plastic2Oil processor. By integrating this technology into a large batch processor, the Company believes that it can accomplish the following:
-- Approximately one liter of fuel is extracted from a kilogram
of plastic.
-- The gas byproduct provides the energy necessary to fuel the
process, thereby eliminating energy costs.
-- Due to our catalyst and a highly optimized process, fuel can
be extracted in four hours from a large source of raw
unwashed, mixed plastics.
-- Raw plastic materials can be acquired in many forms at no cost
or even a negative cost.
Name Change and New Symbol:
The Company will be filing a Form 14 with the SEC to change its name and symbol to better reflect its business. As well, it will be announcing an annual shareholders meeting to be held at its main facility. The Company has been contacted by a number of investors and funds and would like to provide the best possible opportunity for due diligence.
Stock Promoters
310 Holdings Inc. is not in any way interested in dealing with stock promoters who are seeking financial or stock compensation.
"Our capital is better used for us to acquire profitable companies than to spend valuable company capital for short-term gains in the stock price," said Mr. Bordynuik. "Do not call us. If you want to promote this stock then buy it and promote it based on its real value."
About 310 Holdings, Inc.
John Bordynuik purchased 63% of the issued and outstanding shares of 310 Holdings on April 23, 2009. Subsequently, John Bordynuik was appointed President and CEO of the Company. Management has commenced operations with Plastic2Oil, a process and service that extracts fuel from plastic. 310 Holdings Inc. completed a definitive agreement on July 15, 2009 to acquire and continue tape data migration and transcription services of John Bordynuik Inc. 310 Holdings Inc. is incorporated in the State of Nevada and is publicly traded on the NASDAQ OTCBB under the symbol "TRTN".
For more information, please see http://www.310holdings.com and http://www.johnbordynuik.com.
Forward-Looking Statements
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act. The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees. Those statements include statements regarding the intent, belief or current expectations of 310 Holdings Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: 310 Holdings Inc.
By Staff
CONTACT: 310 Holdings Inc
John Bordynuik, President and CEO
john@310holdings.com
Investor Relations
Katie Matkowski
Katie@310holdings.com
+1 (289) 296 - 5538
(C) Copyright 2009 GlobeNewswire, Inc. All rights reserved.
-0-
NBRI .019 - nice green close
Have a great weekend all
GLA
PP
RIGS - SRSR
Another ALMI in terms of multi bagger here.
(Mining stock + multi bagger)
GLA
PP
SRSR - still green for the day
Still looking good
http://finance.yahoo.com/q?s=SRSR.PK
GLA
PP
NBRI Float 33,461,007 as of Jul 10, 2009
Nice low float upcoming mining stock -
As of July 22, 2009, North Bay Resources Inc. owns over 140 mineral and placer claims encompassing approximately 50,000 acres throughout British Columbia, Canada.
The following properties are our primary target areas of focus:
http://www.northbayresources.com/propndx.html
The following properties are our primary target areas of focus:
Willa: Silverton, BC (Gold, Silver, Copper)
http://www.northbayresources.com/willa.html
Monte Cristo: Lillooet River Valley, BC (Platinum, Palladium, Gold, Silver)
http://www.northbayresources.com/montecristo.html
Fraser River Platinum: Lytton, BC (Platinum, Iridium) [JV]
http://www.northbayresources.com/fraser.html
Silver Cup Ridge: Trout Lake, BC (Gold, Silver, Copper)
http://www.northbayresources.com/silvercup.html
Tulameen Platinum Project: Tulameen, BC (Platinum, Palladium, Rhodium, Gold, Silver)
http://www.northbayresources.com/lodestone.html
Tor: Tulameen, BC (Platinum, Palladium, Rhodium, Gold, Silver)
http://www.northbayresources.com/tor.html
Rainbow Creek: Mackenzie, BC (Platinum, Iridium, Gold)
http://www.northbayresources.com/rainbow.html
Lardeau Creek: Trout Lake, BC (Gold, Silver, Platinum, Nickel, Copper)
http://www.northbayresources.com/lardeaucreek.html
Silver Leaf: Slocan, BC (Silver, Gold, Zinc) [JV]
http://www.northbayresources.com/silverleaf.html
Gold Hill Project: Salmo, BC (Gold, Silver, Molybdenum, Tungsten) [JV]
http://www.northbayresources.com/salmo.html
Rachel: Salmo, BC (Gold, Silver)
http://www.northbayresources.com/rachel.html
Connie Hill: Vancouver Island, BC (Gold, Silver, Copper)
http://www.northbayresources.com/conniehill.html
Argo Gold: Tatlayako Lake, BC (Gold, Silver)
http://www.northbayresources.com/argo.html
North Star Silver: Slocan, BC (Silver, Gold, Lead, Zinc)
http://www.northbayresources.com/northstar.html
Coronation Gold: Slocan, BC (Gold, Silver, Lead, Zinc)
http://www.northbayresources.com/coronation.html
Pinnacle Gold: Pilldolla Creek, BC (Gold, Silver, Copper)
http://www.northbayresources.com/pinnacle.html
Loughborough Gold: Loughborough Inlet, BC (Gold, Silver)
http://www.northbayresources.com/loughborough.html
Granite Creek Platinum: Tulameen, BC (Platinum, Palladium, Iridium, Rhodium
http://www.northbayresources.com/granite.html
Lynx Gold: Vernon, BC (Gold, Silver)
http://www.northbayresources.com/lynx.html
Bouleau Creek Gold: Vernon, BC (Gold, Silver)
http://www.northbayresources.com/boul.html
North Bay Resources Inc. (NBRI) Retains Auditor to Continue Uplisting Process
SKIPPACK, PA -- (Marketwire) -- 06/30/09 -- North Bay Resources Inc. (PINKSHEETS: NBRI) ("North Bay" or the "Company") is pleased to announce that it has retained the accounting firm of M&K CPAS, PLLC ("M&K") as the Company's independent auditor.
M&K specializes in audits of small to mid-sized public companies, and is registered with the Public Company Accounting Oversight Board ("PCAOB").
Audited financial statements prepared by a PCAOB-registered accounting firm are required by the SEC as part of the registration process, which began in November 2008 when the Company's 15c2-11 filing was cleared by FINRA. Upon completion of the audit, the Company then anticipates further regulatory filings with the SEC to become a fully reporting company and to be listed on the OTC Bulletin Board exchange ("OTCBB").
NBRI Uplisting Auditor M&K CPAS, PLLC,
http://www.mkacpas.com/
NBRI .018 low floater / mining stock
As of July 22, 2009, North Bay Resources Inc. owns over 140 mineral and placer claims encompassing approximately 50,000 acres throughout British Columbia, Canada.
The following properties are our primary target areas of focus:
http://www.northbayresources.com/propndx.html
The following properties are our primary target areas of focus:
Willa: Silverton, BC (Gold, Silver, Copper)
http://www.northbayresources.com/willa.html
Monte Cristo: Lillooet River Valley, BC (Platinum, Palladium, Gold, Silver)
http://www.northbayresources.com/montecristo.html
Fraser River Platinum: Lytton, BC (Platinum, Iridium) [JV]
http://www.northbayresources.com/fraser.html
Silver Cup Ridge: Trout Lake, BC (Gold, Silver, Copper)
http://www.northbayresources.com/silvercup.html
Tulameen Platinum Project: Tulameen, BC (Platinum, Palladium, Rhodium, Gold, Silver)
http://www.northbayresources.com/lodestone.html
Tor: Tulameen, BC (Platinum, Palladium, Rhodium, Gold, Silver)
http://www.northbayresources.com/tor.html
Rainbow Creek: Mackenzie, BC (Platinum, Iridium, Gold)
http://www.northbayresources.com/rainbow.html
Lardeau Creek: Trout Lake, BC (Gold, Silver, Platinum, Nickel, Copper)
http://www.northbayresources.com/lardeaucreek.html
Silver Leaf: Slocan, BC (Silver, Gold, Zinc) [JV]
http://www.northbayresources.com/silverleaf.html
Gold Hill Project: Salmo, BC (Gold, Silver, Molybdenum, Tungsten) [JV]
http://www.northbayresources.com/salmo.html
Rachel: Salmo, BC (Gold, Silver)
http://www.northbayresources.com/rachel.html
Connie Hill: Vancouver Island, BC (Gold, Silver, Copper)
http://www.northbayresources.com/conniehill.html
Argo Gold: Tatlayako Lake, BC (Gold, Silver)
http://www.northbayresources.com/argo.html
North Star Silver: Slocan, BC (Silver, Gold, Lead, Zinc)
http://www.northbayresources.com/northstar.html
Coronation Gold: Slocan, BC (Gold, Silver, Lead, Zinc)
http://www.northbayresources.com/coronation.html
Pinnacle Gold: Pilldolla Creek, BC (Gold, Silver, Copper)
http://www.northbayresources.com/pinnacle.html
Loughborough Gold: Loughborough Inlet, BC (Gold, Silver)
http://www.northbayresources.com/loughborough.html
Granite Creek Platinum: Tulameen, BC (Platinum, Palladium, Iridium, Rhodium
http://www.northbayresources.com/granite.html
Lynx Gold: Vernon, BC (Gold, Silver)
http://www.northbayresources.com/lynx.html
Bouleau Creek Gold: Vernon, BC (Gold, Silver)
http://www.northbayresources.com/boul.html
North Bay Resources Inc. (NBRI) Retains Auditor to Continue Uplisting Process
SKIPPACK, PA -- (Marketwire) -- 06/30/09 -- North Bay Resources Inc. (PINKSHEETS: NBRI) ("North Bay" or the "Company") is pleased to announce that it has retained the accounting firm of M&K CPAS, PLLC ("M&K") as the Company's independent auditor.
M&K specializes in audits of small to mid-sized public companies, and is registered with the Public Company Accounting Oversight Board ("PCAOB").
Audited financial statements prepared by a PCAOB-registered accounting firm are required by the SEC as part of the registration process, which began in November 2008 when the Company's 15c2-11 filing was cleared by FINRA. Upon completion of the audit, the Company then anticipates further regulatory filings with the SEC to become a fully reporting company and to be listed on the OTC Bulletin Board exchange ("OTCBB").
NBRI Uplisting Auditor M&K CPAS, PLLC,
http://www.mkacpas.com/
QSGI - Nice : )
NBRI .018 low floater / mining stock
As of July 22, 2009, North Bay Resources Inc. owns over 140 mineral and placer claims encompassing approximately 50,000 acres throughout British Columbia, Canada.
The following properties are our primary target areas of focus:
http://www.northbayresources.com/propndx.html
The following properties are our primary target areas of focus:
Willa: Silverton, BC (Gold, Silver, Copper)
http://www.northbayresources.com/willa.html
Monte Cristo: Lillooet River Valley, BC (Platinum, Palladium, Gold, Silver)
http://www.northbayresources.com/montecristo.html
Fraser River Platinum: Lytton, BC (Platinum, Iridium) [JV]
http://www.northbayresources.com/fraser.html
Silver Cup Ridge: Trout Lake, BC (Gold, Silver, Copper)
http://www.northbayresources.com/silvercup.html
Tulameen Platinum Project: Tulameen, BC (Platinum, Palladium, Rhodium, Gold, Silver)
http://www.northbayresources.com/lodestone.html
Tor: Tulameen, BC (Platinum, Palladium, Rhodium, Gold, Silver)
http://www.northbayresources.com/tor.html
Rainbow Creek: Mackenzie, BC (Platinum, Iridium, Gold)
http://www.northbayresources.com/rainbow.html
Lardeau Creek: Trout Lake, BC (Gold, Silver, Platinum, Nickel, Copper)
http://www.northbayresources.com/lardeaucreek.html
Silver Leaf: Slocan, BC (Silver, Gold, Zinc) [JV]
http://www.northbayresources.com/silverleaf.html
Gold Hill Project: Salmo, BC (Gold, Silver, Molybdenum, Tungsten) [JV]
http://www.northbayresources.com/salmo.html
Rachel: Salmo, BC (Gold, Silver)
http://www.northbayresources.com/rachel.html
Connie Hill: Vancouver Island, BC (Gold, Silver, Copper)
http://www.northbayresources.com/conniehill.html
Argo Gold: Tatlayako Lake, BC (Gold, Silver)
http://www.northbayresources.com/argo.html
North Star Silver: Slocan, BC (Silver, Gold, Lead, Zinc)
http://www.northbayresources.com/northstar.html
Coronation Gold: Slocan, BC (Gold, Silver, Lead, Zinc)
http://www.northbayresources.com/coronation.html
Pinnacle Gold: Pilldolla Creek, BC (Gold, Silver, Copper)
http://www.northbayresources.com/pinnacle.html
Loughborough Gold: Loughborough Inlet, BC (Gold, Silver)
http://www.northbayresources.com/loughborough.html
Granite Creek Platinum: Tulameen, BC (Platinum, Palladium, Iridium, Rhodium
http://www.northbayresources.com/granite.html
Lynx Gold: Vernon, BC (Gold, Silver)
http://www.northbayresources.com/lynx.html
Bouleau Creek Gold: Vernon, BC (Gold, Silver)
http://www.northbayresources.com/boul.html
North Bay Resources Inc. (NBRI) Retains Auditor to Continue Uplisting Process
SKIPPACK, PA -- (Marketwire) -- 06/30/09 -- North Bay Resources Inc. (PINKSHEETS: NBRI) ("North Bay" or the "Company") is pleased to announce that it has retained the accounting firm of M&K CPAS, PLLC ("M&K") as the Company's independent auditor.
M&K specializes in audits of small to mid-sized public companies, and is registered with the Public Company Accounting Oversight Board ("PCAOB").
Audited financial statements prepared by a PCAOB-registered accounting firm are required by the SEC as part of the registration process, which began in November 2008 when the Company's 15c2-11 filing was cleared by FINRA. Upon completion of the audit, the Company then anticipates further regulatory filings with the SEC to become a fully reporting company and to be listed on the OTC Bulletin Board exchange ("OTCBB").
NBRI Uplisting Auditor M&K CPAS, PLLC,
http://www.mkacpas.com/
NBRI .018 - low float mining stock
May be worth looking at
http://www.northbayresources.com/
GLA
PP
brucegorman - Date ? of that talk / email reply from the company ?
Was that recent ? In July ?
Thanks
PP
NBRI " purchase of a producing mine"
Press Release
Source: North Bay Resources Inc.
On Tuesday May 12, 2009, 7:30 am EDT
"-- The Company has continued negotiations for the acquisition of an
operating gold mine, and has expanded its potential targets to include a
fully permitted mine in the southwestern US"
That will be great news
GLA
PP
Great to hear M&K confirmed audit
Thanks for the updated
PP
NBRI planned Audit and 15c2-11 filing
Will spell out what NBRI owns / has / etc
North Bay Resources Inc. (NBRI) Retains Auditor to Continue Uplisting Process
SKIPPACK, PA -- (Marketwire) -- 06/30/09 -- North Bay Resources Inc. (PINKSHEETS: NBRI) ("North Bay" or the "Company") is pleased to announce that it has retained the accounting firm of M&K CPAS, PLLC ("M&K") as the Company's independent auditor.
M&K specializes in audits of small to mid-sized public companies, and is registered with the Public Company Accounting Oversight Board ("PCAOB").
Audited financial statements prepared by a PCAOB-registered accounting firm are required by the SEC as part of the registration process, which began in November 2008 when the Company's 15c2-11 filing was cleared by FINRA. Upon completion of the audit, the Company then anticipates further regulatory filings with the SEC to become a fully reporting company and to be listed on the OTC Bulletin Board exchange ("OTCBB").
According to CEO Perry Leopold, "We are very pleased that M&K has agreed to be our independent auditor. Besides specializing in audits of small to mid-sized public companies, M&K is also very familiar with mining sector accounting, which was one of our most important pre-requisites. We look forward to working closely with their team in the weeks ahead to complete our audit and moving on to the next step in our uplisting process to become a fully reporting company."
DD Minfile website
I am sure most claims are purchased -
You can start your DD here
Just go to this website and read the info
You can also search for the properties
(MINFILE 082FNW161), the V&M (MINFILE 082FNW191), the Senator (MINFILE 082FNW164), and the Homestake (MINFILE 082FNW213), in addition to the Coronation (MINFILE 082FNW162
http://www.empr.gov.bc.ca/MINING/GEOSCIENCE/MINFILE/Pages/default.aspx
North Bay Resources Inc. (NBRI) Adds to Coronation Gold Property
SKIPPACK, PA, Jul 20, 2009 (MARKETWIRE via COMTEX) -- North Bay Resources Inc. (PINKSHEETS: NBRI) ("North Bay" or the "Company") is pleased to announce that it has staked additional claims adjacent to the Company's Coronation Gold Property, effectively tripling its size.
Coronation Gold is located near Memphis Creek, 6 kilometres northeast of Slocan in southeastern British Columbia. The property now covers 309 acres over several reverted crown grants and includes four other past-producing mines; the Colorado (MINFILE 082FNW161), the V&M (MINFILE 082FNW191), the Senator (MINFILE 082FNW164), and the Homestake (MINFILE 082FNW213), in addition to the Coronation (MINFILE 082FNW162). Primary mineralization is gold, silver, zinc, and lead. The highest combined historical (post-production) assays are 16.8 grams (0.54 ounces) per tonne gold, 6000 grams (192 ounces) per tonne silver, 10.9% zinc, and 1.2% lead.
According to BC Assessment Report 18603, the Coronation was reported to have past-production of as much as 13,000 grams (418 ounces) per tonne silver and 20% lead. A more recent sample of tetrahedrite-bearing ore from the portal assayed 2.1 grams per tonne gold and 6000 grams (192 ounces) per tonne silver, and a sample from the Coronation dump assayed 0.4 gram per tonne gold, 2414 grams (77.6 ounces) per tonne silver, 1.2% lead and 10.9% zinc. The same report documents samples from the Senator adit that assayed 6.1 grams per tonne gold and 1080 grams (34.7 ounces) per tonne silver over 0.3 metres on a quartz-pyrite vein, and 16.8 grams (0.54 ounces) per tonne gold and 549 grams (17.65 ounces) per tonne silver over 0.5 metres on a quartz-pyrite vein from the V&M mine adit.
The new claims include the past-producing Homestake mine (MINFILE 082FNW213), which was also previously known as the Hamilton. Significant gold and silver values are reportedly associated with mainly pyrite mineralization, accompanied by minor tetrahedrite, arsenopyrite, and native silver. The principal structure hosting the vein is a shear zone about 3 metres wide that cuts a coarse porphyritic phase of the Nelson granitic batholith. Past-production at the Homestake averaged 23.3 grams (0.75 ounces) per tonne gold, 2611 grams (83.95 ounces) per tonne silver, 1.33% lead and 1.52% zinc.
The Coronation Gold property is approximately 7 kilometres southwest of the Company's partial interest in the Willa mine, where a 2005 NI 43-101 report measured the resource as 3,989,494 tonnes grading 3.23 grams gold, 7.16 grams silver, and 0.53% copper based on a 1.5-gram gold per tonne cutoff. It is also 5 kilometres west of the Company's Silver Leaf property, and 13 kilometres southwest of the Company's North Star Silver property. Combined with other claims in the area, North Bay is now second to only Klondike Silver Corp. as one of the largest claim owners in the Slocan Mining Camp.
About North Bay Resources Inc.
NBRI News
Also working on uplisting
15c2-11 filing
http://pinksheets.com/pink/quote/quote.jsp?symbol=NBRI
North Bay Resources Inc. (NBRI) Adds to Coronation Gold Property
Press Release
Source: North Bay Resources Inc.
On Monday July 20, 2009, 8:50 am EDT
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Companies:North bay resources, inc.
North Bay Resources Inc. (Pinksheets:NBRI - News) ("North Bay" or the "Company") is pleased to announce that it has staked additional claims adjacent to the Company's Coronation Gold Property, effectively tripling its size.
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NBRI.PK 0.02 0.00
{"s" : "nbri.pk","k" : "c10,l10,p20,t10","o" : "","j" : ""} Coronation Gold is located near Memphis Creek, 6 kilometres northeast of Slocan in southeastern British Columbia. The property now covers 309 acres over several reverted crown grants and includes four other past-producing mines; the Colorado (MINFILE 082FNW161), the V&M (MINFILE 082FNW191), the Senator (MINFILE 082FNW164), and the Homestake (MINFILE 082FNW213), in addition to the Coronation (MINFILE 082FNW162). Primary mineralization is gold, silver, zinc, and lead. The highest combined historical (post-production) assays are 16.8 grams (0.54 ounces) per tonne gold, 6000 grams (192 ounces) per tonne silver, 10.9% zinc, and 1.2% lead.
According to BC Assessment Report 18603, the Coronation was reported to have past-production of as much as 13,000 grams (418 ounces) per tonne silver and 20% lead. A more recent sample of tetrahedrite-bearing ore from the portal assayed 2.1 grams per tonne gold and 6000 grams (192 ounces) per tonne silver, and a sample from the Coronation dump assayed 0.4 gram per tonne gold, 2414 grams (77.6 ounces) per tonne silver, 1.2% lead and 10.9% zinc. The same report documents samples from the Senator adit that assayed 6.1 grams per tonne gold and 1080 grams (34.7 ounces) per tonne silver over 0.3 metres on a quartz-pyrite vein, and 16.8 grams (0.54 ounces) per tonne gold and 549 grams (17.65 ounces) per tonne silver over 0.5 metres on a quartz-pyrite vein from the V&M mine adit.
The new claims include the past-producing Homestake mine (MINFILE 082FNW213), which was also previously known as the Hamilton. Significant gold and silver values are reportedly associated with mainly pyrite mineralization, accompanied by minor tetrahedrite, arsenopyrite, and native silver. The principal structure hosting the vein is a shear zone about 3 metres wide that cuts a coarse porphyritic phase of the Nelson granitic batholith. Past-production at the Homestake averaged 23.3 grams (0.75 ounces) per tonne gold, 2611 grams (83.95 ounces) per tonne silver, 1.33% lead and 1.52% zinc.
The Coronation Gold property is approximately 7 kilometres southwest of the Company's partial interest in the Willa mine, where a 2005 NI 43-101 report measured the resource as 3,989,494 tonnes grading 3.23 grams gold, 7.16 grams silver, and 0.53% copper based on a 1.5-gram gold per tonne cutoff. It is also 5 kilometres west of the Company's Silver Leaf property, and 13 kilometres southwest of the Company's North Star Silver property. Combined with other claims in the area, North Bay is now second to only Klondike Silver Corp. as one of the largest claim owners in the Slocan Mining Camp.
About North Bay Resources Inc.
North Bay Resources Inc. (Pinksheets:NBRI - News) is a junior mining company with over 140 mineral and placer claims encompassing approximately 50,000 acres throughout British Columbia, Canada. The Company's mission is to build a portfolio of viable mining prospects throughout the world and developing them through subsidiaries and JV partners to their full economic potential. North Bay's business plan is based on the Generative Business Model, which is designed to leverage its properties into near-term revenue streams even during the earliest stages of exploration and development. This provides shareholders with multiple opportunities to profit from discoveries while preserving capital and minimizing the risk involved in exploration and development.
http://www.northbayresources.com/
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NBRI .02 x .022 news out today
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15c2-11 filing
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North Bay Resources Inc. (NBRI) Adds to Coronation Gold Property
Press Release
Source: North Bay Resources Inc.
On Monday July 20, 2009, 8:50 am EDT
Buzz up! 0 Print
Companies:North bay resources, inc.
North Bay Resources Inc. (Pinksheets:NBRI - News) ("North Bay" or the "Company") is pleased to announce that it has staked additional claims adjacent to the Company's Coronation Gold Property, effectively tripling its size.
Related Quotes
Symbol Price Change
NBRI.PK 0.02 0.00
{"s" : "nbri.pk","k" : "c10,l10,p20,t10","o" : "","j" : ""} Coronation Gold is located near Memphis Creek, 6 kilometres northeast of Slocan in southeastern British Columbia. The property now covers 309 acres over several reverted crown grants and includes four other past-producing mines; the Colorado (MINFILE 082FNW161), the V&M (MINFILE 082FNW191), the Senator (MINFILE 082FNW164), and the Homestake (MINFILE 082FNW213), in addition to the Coronation (MINFILE 082FNW162). Primary mineralization is gold, silver, zinc, and lead. The highest combined historical (post-production) assays are 16.8 grams (0.54 ounces) per tonne gold, 6000 grams (192 ounces) per tonne silver, 10.9% zinc, and 1.2% lead.
According to BC Assessment Report 18603, the Coronation was reported to have past-production of as much as 13,000 grams (418 ounces) per tonne silver and 20% lead. A more recent sample of tetrahedrite-bearing ore from the portal assayed 2.1 grams per tonne gold and 6000 grams (192 ounces) per tonne silver, and a sample from the Coronation dump assayed 0.4 gram per tonne gold, 2414 grams (77.6 ounces) per tonne silver, 1.2% lead and 10.9% zinc. The same report documents samples from the Senator adit that assayed 6.1 grams per tonne gold and 1080 grams (34.7 ounces) per tonne silver over 0.3 metres on a quartz-pyrite vein, and 16.8 grams (0.54 ounces) per tonne gold and 549 grams (17.65 ounces) per tonne silver over 0.5 metres on a quartz-pyrite vein from the V&M mine adit.
The new claims include the past-producing Homestake mine (MINFILE 082FNW213), which was also previously known as the Hamilton. Significant gold and silver values are reportedly associated with mainly pyrite mineralization, accompanied by minor tetrahedrite, arsenopyrite, and native silver. The principal structure hosting the vein is a shear zone about 3 metres wide that cuts a coarse porphyritic phase of the Nelson granitic batholith. Past-production at the Homestake averaged 23.3 grams (0.75 ounces) per tonne gold, 2611 grams (83.95 ounces) per tonne silver, 1.33% lead and 1.52% zinc.
The Coronation Gold property is approximately 7 kilometres southwest of the Company's partial interest in the Willa mine, where a 2005 NI 43-101 report measured the resource as 3,989,494 tonnes grading 3.23 grams gold, 7.16 grams silver, and 0.53% copper based on a 1.5-gram gold per tonne cutoff. It is also 5 kilometres west of the Company's Silver Leaf property, and 13 kilometres southwest of the Company's North Star Silver property. Combined with other claims in the area, North Bay is now second to only Klondike Silver Corp. as one of the largest claim owners in the Slocan Mining Camp.
About North Bay Resources Inc.
North Bay Resources Inc. (Pinksheets:NBRI - News) is a junior mining company with over 140 mineral and placer claims encompassing approximately 50,000 acres throughout British Columbia, Canada. The Company's mission is to build a portfolio of viable mining prospects throughout the world and developing them through subsidiaries and JV partners to their full economic potential. North Bay's business plan is based on the Generative Business Model, which is designed to leverage its properties into near-term revenue streams even during the earliest stages of exploration and development. This provides shareholders with multiple opportunities to profit from discoveries while preserving capital and minimizing the risk involved in exploration and development.
http://www.northbayresources.com/
NEW - "over 140 mineral and placer claims encompassing approximately 50,000 acres throughout British Columbia, Canada. The Company's mission is to build a portfolio of viable mining prospects throughout the world and developing them through subsidiaries and JV partners to their full economic potential."
They needed the above in the news release
GLA
PP
NBRI news out
North Bay Resources Inc. (NBRI) Adds to Coronation Gold Property
Press Release
Source: North Bay Resources Inc.
On Monday July 20, 2009, 8:50 am EDT
North Bay Resources Inc. (Pinksheets:NBRI - News) ("North Bay" or the "Company") is pleased to announce that it has staked additional claims adjacent to the Company's Coronation Gold Property, effectively tripling its size.
Coronation Gold is located near Memphis Creek, 6 kilometres northeast of Slocan in southeastern British Columbia. The property now covers 309 acres over several reverted crown grants and includes four other past-producing mines; the Colorado (MINFILE 082FNW161), the V&M (MINFILE 082FNW191), the Senator (MINFILE 082FNW164), and the Homestake (MINFILE 082FNW213), in addition to the Coronation (MINFILE 082FNW162). Primary mineralization is gold, silver, zinc, and lead. The highest combined historical (post-production) assays are 16.8 grams (0.54 ounces) per tonne gold, 6000 grams (192 ounces) per tonne silver, 10.9% zinc, and 1.2% lead.
According to BC Assessment Report 18603, the Coronation was reported to have past-production of as much as 13,000 grams (418 ounces) per tonne silver and 20% lead. A more recent sample of tetrahedrite-bearing ore from the portal assayed 2.1 grams per tonne gold and 6000 grams (192 ounces) per tonne silver, and a sample from the Coronation dump assayed 0.4 gram per tonne gold, 2414 grams (77.6 ounces) per tonne silver, 1.2% lead and 10.9% zinc. The same report documents samples from the Senator adit that assayed 6.1 grams per tonne gold and 1080 grams (34.7 ounces) per tonne silver over 0.3 metres on a quartz-pyrite vein, and 16.8 grams (0.54 ounces) per tonne gold and 549 grams (17.65 ounces) per tonne silver over 0.5 metres on a quartz-pyrite vein from the V&M mine adit.
The new claims include the past-producing Homestake mine (MINFILE 082FNW213), which was also previously known as the Hamilton. Significant gold and silver values are reportedly associated with mainly pyrite mineralization, accompanied by minor tetrahedrite, arsenopyrite, and native silver. The principal structure hosting the vein is a shear zone about 3 metres wide that cuts a coarse porphyritic phase of the Nelson granitic batholith. Past-production at the Homestake averaged 23.3 grams (0.75 ounces) per tonne gold, 2611 grams (83.95 ounces) per tonne silver, 1.33% lead and 1.52% zinc.
The Coronation Gold property is approximately 7 kilometres southwest of the Company's partial interest in the Willa mine, where a 2005 NI 43-101 report measured the resource as 3,989,494 tonnes grading 3.23 grams gold, 7.16 grams silver, and 0.53% copper based on a 1.5-gram gold per tonne cutoff. It is also 5 kilometres west of the Company's Silver Leaf property, and 13 kilometres southwest of the Company's North Star Silver property. Combined with other claims in the area, North Bay is now second to only Klondike Silver Corp. as one of the largest claim owners in the Slocan Mining
NBRI
- Updated the below also
"over 140 mineral and placer claims encompassing approximately 50,000 acres throughout British Columbia, Canada. The Company's mission is to build a portfolio of viable mining prospects throughout the world and developing them through subsidiaries and JV partners to their full economic potential."
WEBSITE
http://www.northbayresources.com/
NBRI Uplisting Auditor M&K CPAS, PLLC,
http://www.mkacpas.com/
is a full service certified public accounting firm focused on serving the audit and financial reporting needs of growing micro and small-cap publicly traded companies. We serve a wide range of privately held companies as well. Our firm is supported by responsive partners and staff focused on serving your audit and financial reporting needs with the highest levels of integrity and independence while providing the personalized attention you expect. Our partners have extensive experience with the financial reporting requirements of federal securities laws, the Sarbanes-Oxley Act of 2002, the Public Company Accounting Oversight Board and generally accepted auditing standards. Our unique approach to serving our clients ensures efficient service at a reasonable cost.
Our unique approach provides a high level of SEC and accounting experience in a cost effective manner. We take great pride in our ability and willingness to provide an immediate responses to client questions and inquires. Our partner group strives to make client service a high priority in our own personal lives.
At M&K CPAS, PLLC, we focus on the audit and financial reporting needs of growing micro and small-cap publicly traded companies, having worked with numerous companies on a wide variety of complex transactions, including initial public offerings, secondary offerings, mergers and acquisitions, reverse mergers and roll-ups. Our audit approach is specifically designed for growing small-cap publicly traded companies with consideration for their personnel, systems and controls.
Our audit and assurance services include:
Annual audits of financial statements on Form 10K for publicly traded companies under the Securities Exchange Act of 1934
Quarterly reviews of financial statements on Form 10Q for publicly traded companies under the Securities Exchange Act of 1934
Periodic filing requirements for publicly traded companies under the Securities Exchange Act of 1934
Initial public offerings and registration statements under the Securities Exchange Act of 1933
Mergers and acquisitions
Reverse mergers and roll-ups
Private or public placements of debt or equity
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Federal and state tax planning and compliance
In addition to our extensive experience providing service to publicly traded companies our specific industry experiences for both private and public companies includes the following areas:
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M&K CPAS, PLLC. is registered with the Public Company Accounting Oversight Board.
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PVRE .10 - just broke .099
PVRE - interesting 1 Year chart
Must be another low floater
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=PVRE
Almi Update on filings Form 10-Q/A for ATLAS MINING CO
http://finance.yahoo.com/q/sec?s=almi.pk
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15-Jul-2009
Quarterly Report
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
OVERVIEW
We operate a contract mining business, Atlas Fausett Contracting, and own a mineral resource, the Dragon Mine, located in Eureka Utah. Historically our primary source of revenue was generated by contract mining operations. On December 31, 2008 we discontinued our contract mining efforts due to economic conditions and the decision to concentrate our efforts on the commercialization of the halloysite clay deposit at the Dragon Mine.
Property Exploration
We intend to continue focus on commercializing the Dragon Mine. We do not intend to seek out and acquire other properties.
In August 2001, we acquired the Dragon Mine in Juab, Utah and began our clay exploration. Our exploration and development expenses for the three month period ending June 30, 2007 and 2006 were $ 922,270 and $ 1,123,211 , respectively, on the halloysite clay project.
The activities at our Dragon Mine property, located in Juab County, Utah, were suspended in October 2007 when previous management determined that both a resource survey and an appropriate processing facility were needed before the property could be successfully commercialized. In 2008, a geological consulting firm was hired by us to both carry out a detailed geological review of the property and develop an appropriate method by which to process the mineral resource. This work is ongoing as of the date of this report. Beginning in 2009, we began processing material from the mine and distributing samples to potential customers as part of a preliminary marketing program. The geological consulting firm referred to above has sub-contracted with a firm with expertise in the development of mineral processing to identify an appropriate processing system for the Company. Any subsequent reference to a geological consulting firm may be assumed to include the firm currently being contracted to identify the processing system.
Management believes that the clay resource found at the Dragon Mine property possesses, among other things, certain structural and mineralogical characteristics that may possibly add functionality to applications such as, but not limited to, the controlled release of biological and chemical agents, polymer-related strengtheners and fire retardants, oil field drilling minerals, catalyst carriers, filtration technologies, hydrogen storage for fuel cells and cosmetics. For certain of the aforementioned applications, management believes the Dragon Mine resource has the potential to serve as a more effective alternative to the materials upon which these current technologies are established. Other above-mentioned applications are being developed to specifically utilize the structural characteristics of the clay resource.
The Dragon Mine property contains halloysite, kaolinite, alunite and other minerals located underground and in waste piles that are the result of previous mining operations. The geological resource survey being conducted on the Dragon Mine has involved the assessment of approximately 10,000 feet of borehole drill cores and the analysis of samples taken from the five waste piles located at the mine site. The survey has included X-ray diffraction analysis to determine the levels of halloysite, kaolinite and other minerals found in the resource. Initial studies have indicated that conventional processing may be used to separate the halloysite and kaolinite fractions from alunite and other minerals found in the Dragon Mine resource. The geology of the deposit shows alterations of feldspar identified along side the presence of monzanite, halloysite and kaolinite. Purer halloysite found at the mine has been identified along side the presence of iron ore. The morphology of the halloysite identified at the Dragon Mine, as determined by Scanning Electron Microscopy ("SEM") analysis, demonstrates the existence of both lath-like and tubular formations. The kaolinite present at the Dragon Mine has been determined to possess a highly crystalline structure.
NaturalNano, Inc. (OTC: NNAN), in conjunction with Cascade Engineering and it's subsidiary, Noble Polymers, has developed Pleximer ?, a halloysite nanotube concentrate used to create stronger, lighter, environmentally friendlier and lower-cost polymer-based nanocomposites. According to NaturalNano's 2008 annual report, Pleximer ? is being marketed to the global nanocomposites market that, in the estimation of BCC Research, is expected to grow from $273 million in 2005 to $4.0 billion by 2015. According to BCC Research, clay-based nanocomposites are expected to represent 47% of the nanocomposites market by 2010. The U.S. Department of the Navy, represented by the Naval Research Lab (NRL"), has patented a technology that provides for the controlled release of active agents using inorganic tubules such as halloysite clay. The U.S. Navy's technology has been licensed by at least two companies that are developing controlled-release applications for the fields of electromagnetic shielding/strength enhancement, cosmetics, fragrances, agriculture, ink and paper, electronics, fabrics and textiles, local drug delivery and mold-resistant building products. The U.S. Navy has also patented a technology that permits a controlled release of an active agent as an anti-scaling treatment for environments such as oil wells.
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As of the date of this report, a study is being conducted to identify the applications for which the Dragon Mine resource may provide functionality. Processed clay samples have been distributed to potential customers who have requested halloysite and/or halloysite-kaolinite mixtures. A number of advanced applications to which the Company plans to market its resource are currently using plate-like structured clays that must undergo expensive exfoliation process to achieve proper functionality. The tubular morphology of the Dragon Mine resource does not require such an exfoliation process to achieve similar or, in many instances, greater functionality. Management, therefore, believes that it may be able to deliver its processed mineral to market at price points lower than those of competing clays, without sacrificing performance.
In addition to certain advanced applications previously mentioned, we believe the Dragon Mine resource may also be marketed to certain established, low-tech applications such as, but not limited to, fine porcelain, bone china, high-performance advanced technical ceramics, paint fillers, suspension agents, animal feed, cement hardeners, and food and pharmaceutical additives. Markets, such as fine porcelain and bone china, would likely require the Dragon Mine clay resource be processed for increased brightness and reduced presence of titanium whereas applications, such as a cement hardener, would require a relatively unprocessed version of the Dragon Mine resource. Management, as part of its overall business strategy, will continually assess the economic feasibility of pursuing potential markets.
Management believes that both existing and potential applications that utilize the Dragon Mine resource will require varying grades of clay to satisfy the unique technical requirements of each application. Some applications may require pure halloysite, composed of tubular and/or lath-shaped particles while other applications may require a grade of clay consisting of a specific halloysite-kaolinite ratio. The determination of the appropriate grade of clay will likely require significant technical cooperation between the Company and the developer of the related application. As previously mentioned, the Company has hired a consulting firm to identify a processing system capable of producing the grades of clay required by potential applications. The identification of such a system is ongoing.
In 2009, the Company entered into a development agreement with Yuri M. Lvov, Ph.D., a professor of chemistry at Louisiana Tech University and the T.C. Pipes Eminent Endowed Chair on Micro and Nanosystems at the Institute for Micromanufacturing (LaTech). The scope of the agreement includes, among other things, the development of halloysite in an anti-corrosion paint application in addition to the development of other emerging applications.
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RESULTS OF OPERATIONS
Revenues for the three month period ended June 30, 2007 were $2,158,250 and $767, 119 for the same period ending June 30, 2006, or an increase of 177%
. Revenues for the six month period ended June 30, 2007 were $4,160,520 and $1,101,829 for the same period ended June 30, 2006, or an increase of 277% . The main difference was caused by the increase in contracting revenues for both periods in 2007 as compared to the previous year. The increase in contracting revenues was driven by an increase in the number of contracts worked on during the quarter versus the same period in 2006. During the three and six months ended June 30, 2007, the contract mining segment worked on three contracts versus one contract during the same periods in 2006.
Gross profit for the three month period ended June 30, 2007 was $ 913,601 compared to $ 213,033 for the same period ended June 30, 2006, a n increase of 329% . Gross profit for the six month period ended June 30, 2007 was $1, 845 , 157 compared to $ 336 , 525 for the same period ended June 30, 2006, or an increase of 449 %. This was due to the increased revenues for the periods ended June 30, 2007 over the same periods ended June 30, 2006. The increase in contracting revenues and gross profit was driven by an increase in the number of contracts worked on during the quarter versus the same period in 2006. During the three and six months ended June 30, 2007, the contract mining segment worked on three contracts versus one contract during the same periods in 2006.
Total operating expenses for the three month period ended June 30, 2007 were $
785 , 148 compared to $ 823 , 954 for the same period ending June 30, 2006, or a de crease of 5 %. Total operating expenses for the six month period ended June 30, 2007 were $ 2 , 017 , 327 compared to $1, 948 , 750 for the same period ended June 30, 2006. The increase is primarily attributed to the increase in mining production costs.
Our net profit (loss) for the three month period ended June 30, 2007 was $ 116 , 328 compared to ($ 617 , 510 ) for the same period ended June 30, 2006, or an increase of $ 733 , 838 ( 119 %). For the six month period ended June 30, 2007, net loss was $ 179 , 955 compared to $1, 607 , 871 for the same period ending June 30, 2006, or a decrease of 89 %. The increase realized during the three and six months ended June 30, 2007 is due to a significant increase in contract mining revenues, coupled with a reduction in the cost of performing contract mining services.
LIQUIDITY AND CAPITAL RESOURCES
Through December 31, 2006, our activities had been financed primarily through the sale of equity securities and borrowings, coupled with revenues from contract mining . During the six month period ended June 30, 2007, our activities have been primarily financed through contract mining activities, and sales of equity securities. For the three month periods and the six month periods ended June 30, 2007 and June 30, 2006, contract mining accounted for 100% of the revenue. Our current asset and debt structure is explained below.
Our total assets as of June 30, 2007 were $6, 626 , 635 compared to $4, 109 , 451 as of December 31, 2006, or an increase of $2, 517 , 184 . For the six month period ended June 30, 2007, the Company has increased its current assets by $1,
632 , 488 , and increased its fixed assets by $898,708 through acquisitions of additional mining equipment and vehicles.
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Total liabilities were $1, 042 , 565 as of June 30, 2007, compared to $ 881 , 858 as of December 31, 2006. The Company acquired mining equipment during the period ended June 30, 2007 to facilitate increased contract mining activities. The following debts are still outstanding:
? A note payable for equipment due in monthly installments of $2, 875 , including interest of 5 .75%, with a balance of $ 24,767 .
? A note payable for equipment due in monthly installments of $1,605, including interest of 17.00 %, with a balance of $36,434.
? A lease payable for equipment due in monthly installments of $676, including interest of 0.99 %, with a balance of $8,068.
? A lease payable for equipment due in annual installments of $15,573, including interest of 8.59 %, with a balance of $61,225.
? A lease payable for equipment due in monthly installments of $479, including interest of 0 .19 %, with a balance of $12,945.
? A lease payable for a vehicle due in monthly installments of $688, including interest of 7. 49 %, with a balance of $ 20,481 .
? A lease payable for equipment due in monthly installments of $3,518, including interest of 18.05 %, with a balance of $120, 999 .
? A lease payable for equipment due in monthly installments of $1,075, including interest of 0%, with a balance of $ 34,412 .
? A lease payable for equipment due in monthly installments of $1,632, including interest of 3%, with a balance of $88,019.
? A note payable to an insurance company for insurance premiums with a balance of $2,801 , including interest at 8.60% and maturing in July 2007 .
? A capital lease payable for equipment due in monthly installments of $2,144, including interest of 19.00%, with a balance of $20,422
? A capital lease payable for equipment due in monthly installments of $1,715, including interest of 11.48% with a balance of $13,906
? Current liabilities including accounts payable and accrued expenses due as of June 30, 2007 were $ 598,128 and are the result of daily operations and accrued taxes. We also carry a liability of $50, 414 to the minority interest in a subsidiary.
Our principal sources of cash flow during the first six months of 2007 was from contracting activities which provided an average of $693,420 per month for the six month period ended June 30, 2007, and averaged $183,638 per month for the same period in 2006. In addition, we rely on our credit facilities and public or private sales of equity for additional cash flow.
Cash flow from financing activities for the six month period ended June 30, 2007 was $ 1 , 897 , 501 compared to $ 772,813 for the same period in 2006, a difference of $1, 124 , 688 . The major factor for the difference was receipt of proceeds from issuance of common stock in January 2007.
The Company used $ 794 , 409 from investing activities for the six month period ended June 30, 2007, compared to using $ 452 , 384 in the same period in 2006, a difference of $ 342 , 025 . This was attributed to purchases of more equipment in the period ended June 30, 2007 compared to the same period in 2006.
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Cash flows provided by (used by) operating activities for the six month period ended June 30, 2007 was $ 190 , 816 compared to ($1, 492 , 548 ) for the same period in 2006, a difference of $1, 683 , 364 . In the six month period in 2007, we had net income after income taxes, as compared to a net loss after income taxes for the same period ended in 2006.
OFF-BALANCE SHEET ARRANGEMENTS
There are no off-balance sheet arrangements between the Company and any other entity that have, or are reasonable likely to have, a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures, or capital resources that is material to investors.
RESTATEMENT OF PRIOR FINANCIAL INFORMATION AND RESULTS OF THE INVESTIGATION
Background
On October 9, 2007 the Company filed a report on Form 8-K with the Securities and Exchange Commission for the purpose of making certain disclosures and attaching a press release. The 8-K and the press release indicated that the Company's chief executive officer and chief financial officer determined that it would be necessary to restate the Company's audited consolidated financial statements and other financial information. The 8-K stated "the determination to restate resulted from recent discussions with a customer and the subsequent discovery that the Company had not properly accounted for cash received in 2004 as a deposit for the sale of halloysite clay from the Company's Dragon Mine. The deposit was improperly recorded as revenue for the year ended December 31, 2004."
The 8-K also that other areas of accounting uncertainty had been identified.
On November 9, 2007 Mark Kockler was hired as Vice President and Chief Operating Officer. Later in November 2007 Robert Dumont resigned as CEO, President and a Director, John Gaensbauer resigned as Executive Vice President and Barbara Suveg resigned as Chief Financial Officer. In December 2007 Mr. Kockler resigned and William T. Jacobson, Chairman of the Board of Directors who had resigned as CEO and President in July 2007, was appointed interim CEO and President. On January 7, 2008 Jack Harvey resigned as a director. On January 11, 2008 John Levy and Morris D. Weiss were appointed directors. At that time the Board of Directors consisted of Messrs. Jacobson, Levy, Weiss and Ronald Price who was president of the Company's subsidiary, Nano Clay and Technologies, Inc.
The Special Committee
On January 11, 2008 the Board of Directors formed a Special Committee (initially consisting of Mr. Levy but later Mr. Weiss was added to the Committee) and directed it to (i) review and investigate the conduct of the Company's prior management and any issues arising therefrom and (ii) review and evaluate the Company's business, financial condition, assets, strategy, prospects and management and recommend to the Board of Directors various alternatives to improve the Company's performance and prospects.
On August 20, 2008 the Special Committee presented its findings and recommendations to the Board of Directors concerning the investigation of the conduct of the prior management of the Company and related issues. After consideration the Board has adopted such findings and recommendations as its own.
The Investigative Team
The Special Committee was assisted in the investigation by outside independent legal counsel, Blank Rome LLP ("Blank Rome") and independent accountants, Heiskell, MacGillivray & Associates, retained by Blank Rome (the Special Committee and its advisors are referred to collectively as the "Investigative Team").
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Scope of the Investigation
The Investigative Team reviewed and investigated, among other things, (i) certain of the Company's prior issuances of equity securities and issues related thereto, (ii) the treatment for financial reporting purposes of $250,000 received by the Company in connection with a 2004 transaction involving NaturalNano, Inc., as more fully described in Note 7, (iii) the Company's accounting for fixed assets and long-term liabilities and (iv) certain public statements made by the Company regarding the Dragon Mine.
The Investigative Team's review included a broad and extensive document review including the Company's stock compensation plans, stock transfer records, minutes of the board meetings, press releases and public filings, accounting and banking books and records and e-mails and related attachments of the Company's current and certain former employees, officers and directors. The Investigative Team also conducted interviews of the Company's current and certain former officers, directors, employees and advisors who appeared to have knowledge of the issues being investigated. Three of the Company's former officers and two of the Company's former consultants declined to be interviewed. The Company placed no limitations on the investigation and cooperated with the investigation, providing requested documents and data and, where possible, making management and the Company's employees available for interviews.
Findings of the Special Committee
The findings of the Special Committee include the following:
? During the period beginning in 2002 and ending in early 2006, approximately 30 million shares of Common Stock were issued in violation of the federal securities laws, including the registration provisions of Section 5 of the Securities Act of 1933. The violations involved (a) misuse of SEC Registration Form S-8, a short form registration form for compensatory issuances to certain officers, directors, employees and consultants (approximately 16 million shares were issued under Form S-8), (b) transfer of 9.9 million shares to related parties and affiliates that were purportedly sold under our Registration Statement on SEC Registration Form SB-2 and subsequent resales without compliance with the plan of distribution contained in the Company's SB-2, and (c) grants of at least 2.8 million shares purportedly made pursuant to the exemption from registration set forth in
Section 4(2) of the Securities Act. These issuances are discussed in more detail in the following three paragraphs.
? Between 2002 and 2006 we issued approximately 16 million shares of our common stock that were purportedly issued under our registration statements on Form S-8. A review of these issuances revealed that approximately 14.6 million of these shares, with an aggregate market value of approximately $3.6 million (based upon the closing sale price per share on the apparent dates of issuance) were issued to individuals and entities that were ineligible to receive shares registered on Form S-8 because, among other reasons, these individuals or entities provided us with capital raising or stock promotion services and/or did not provide any bona fide consulting services to us. In addition, some such issuances and other issuances also may have been in excess of the number of shares we had registered on Form S-8 at the time of issuance. Many of the shares were issued in violation of the Atlas' 2002 Consultant Stock Plan. Certain shares were issued to family members of our then CEO, Mr. Jacobson, and such transactions appear to have been, among other things, director conflict of interest transactions which did not receive proper approval from the Board of Directors. Moreover, the values given to the S-8 stock for financial reporting purposes in many cases appear to have been less than market value of the stock on the apparent dates of issuance.
? In 2003 we registered for sale on SEC Registration Form SB-2 ten million shares of Common Stock at a fixed price of $.10 per share on a self-underwritten basis. Purportedly to avoid filing a post-effective amendment to update the disclosure in the registration statement, we issued 9.9 million shares to related parties and affiliates. In 2003 and 2004, these shares were provided to third parties for resale and resales were apparently made at times when the market price was greater than $.10. Only after such resales did we ultimately receive cash payments in the aggregate of approximately $805,000 for these shares, which is less than the $990,000 that would be expected.
--------------------------------------------------------------------------------
? In 2003 we issued 2.8 million restricted shares for supposed services purportedly in reliance on the private placement exemption from registration set forth in Section 4(2) of the Securities Act. However, we did not determine whether the recipients satisfied a condition of the exemption (that is, whether the recipients took the shares with the intent to resell only pursuant to an effective registration statement or an exemption from registration). In some cases we instructed our transfer agent to transfer these shares prior to the applicable holding period under Rule 144 that is an exemption from registration. 1.4 million of these shares were issued to a family member of Mr. Jacobson and this transaction appears to have been, among other things, a director conflict of interest transaction, which did not receive proper authorization from the Board of Directors.
? The Special Committee also determined that we did not properly record compensation expenses associated with the vesting of certain stock options granted to our former officers.
? The Special Committee has determined that Mr. Jacobson was primarily responsible for the securities law violations set forth above.
? The Special Committee also discovered transactions between us and our wholly- or partly-owned subsidiaries or related entities, including stock issuances to those entities that violated Section 5 of the Securities Act and inter-company loans with those entities that appear to have been conflict-of-interest transactions entered into without proper corporate authorization or business purpose.
? The Special Committee has determined that the accounting treatment of the $250,000 received from NaturalNano as revenue in 2004 was incorrect. However, the Special Committee has also determined that the treatment of such funds as proposed in the October 9, 2007 Press Release was also incorrect. The Special Committee believes that, during the two-year term of the contract, the $250,000 should have been treated as a deposit and, after the expiration of the contract in 2006, the entire $250,000 should have been recognized as revenue.
? The Special Committee determined that in 2004 Mr. Jacobson received options to purchase 3.5 million shares of Atlas common stock in violation of our existing stock option plans and that had an exercise price below market price at the date of the grant. We did not properly account for the compensation expenses related to the grant.
? The Special Committee found no evidence of accounting irregularities with respect to fixed asset ownership and long-term liabilities.
? Our internal controls over financial reporting and disclosure controls contained material weaknesses which led to inadequate and inaccurate disclosures.
? There were inaccurate statements in press releases released by us including a press release dated November 28, 2006 that contained inaccurate statements regarding the production capabilities and activities at the Dragon Mine.
Restatements
In the Company's report on Form 8-K filed on October 9, 2007, the Company stated that the Company had concluded that its audited consolidated financial statements and other financial information at and for the fiscal years ended December 31, 2004, 2005, and 2006 could no longer be relied upon based on the accounting for the 2004 sale of halloysite clay to NaturalNano. The Special Committee determined on August 20, 2008 that the financial statements for all periods beginning in 2002 through the second quarter of 2007 may not be reliable.
In addition to the NaturalNano matter, the Board has determined that expenses recorded in 2002 through 2006 relating to the value of certain issuances of equity stock and the compensation expenses associated with the vesting of certain stock options granted to officers of the Company were not properly recorded on the financial statements. The Special Committee determined that during the two-year term of the NaturalNano contract, the $250,000 should have been treated as a deposit but after the expiration of the contract in 2006 the entire $250,000 should have been recognized. The financial statements for the year ended December 31, 2006 and the quarters ended March 31 and June 30, 2006 and 2007 and September 30, 2006 will be restated.
Report to the SEC
The Special Committee has reported its findings to the staff of the SEC and has advised the staff that the Company intends to cooperate with any investigation that the SEC may commence.
--------------------------------------------------------------------------------
Changes Already Made
In reporting to the Board and the SEC, the Special Committee noted that many changes have already occurred at the Company including:
? In June 2008 Mr. Jacobson resigned as an officer and director.
Yes - stronger hands = higher stock prices
GLA
PP
Hope they get the Cheaper Shares -
And this stocks takes off after they / and us buy more cheaper shares.
All is good if we all make money here
GLA
PP
First .04 then break .09
Need volume here
GLA
PP
Painted the tape - Down -
Last trade day 100 share paint down at .02
Why - someone wants this stock to go lower ?
.023 .025 holding up well
GLA
PP
SRSR .11 - yes green close
Yes - nice day today
GLA
PP
NBRI DD - 15C2-11 filing
- Everyone new here - welcome to the board
GL
PP
North Bay Resources Inc. (NBRI) Retains Auditor to Continue Uplisting Process
SKIPPACK, PA, Jun 30, 2009 (MARKETWIRE via COMTEX) -- North Bay Resources Inc. (PINKSHEETS: NBRI) ("North Bay" or the "Company") is pleased to announce that it has retained the accounting firm of M&K CPAS, PLLC ("M&K") as the Company's independent auditor.
M&K specializes in audits of small to mid-sized public companies, and is registered with the Public Company Accounting Oversight Board ("PCAOB"). Audited financial statements prepared by a PCAOB-registered accounting firm are required by the SEC as part of the registration process, which began in November 2008 when the Company's 15c2-11 filing was cleared by FINRA. Upon completion of the audit, the Company then anticipates further regulatory filings with the SEC to become a fully reporting company and to be listed on the OTC Bulletin Board exchange ("OTCBB").
According to CEO Perry Leopold, "We are very pleased that M&K has agreed to be our independent auditor. Besides specializing in audits of small to mid-sized public companies, M&K is also very familiar with mining sector accounting, which was one of our most important pre-requisites. We look forward to working closely with their team in the weeks ahead to complete our audit and moving on to the next step in our uplisting process to become a fully reporting company."
ISSUER INFORMATION AND DISCLOSURE STATEMENT
PURSUANT TO
RULE 15C2-11
June 5, 2008
PO Box 162
Skippack, PA 19474
TEL: 215-661-1100
Federal I.D. No. Cusip No.
83-0402389 657488 102
INFORMATION AND DISCLOSURE STATEMENT
June 5, 2008
North Bay Resources Inc. (“North Bay” or the “Company”) is responsible for the content
of this information statement. To the knowledge of the Company the information is correct
and no material circumstances have been omitted. The information contained in this
report is in draft format and has not been filed with the Securities and Exchange Commission,
the National Association of Securities Dealers, or any other regulatory body.
The Issuer has duly caused this report to be signed on its behalf by the undersigned, duly
authorized on this 5th day of June 2008.
/s/ Perry Leopold
Perry Leopold
President and CEO
North Bay Resources Inc.
NORTH BAY RESOURCES INC.
INFORMATION AND DISCLOSURE STATEMENT
June 5, 2008
All information contained in this Information and Disclosure Statement has been
compiled to fulfill the disclosure requirements of Rule 15(c)-211(a)(5)
promulgated under the Securities Exchange Act of 1934, as amended. The
enumerated captions contained in this Information and Disclosure Statement
correspond to the sequential format as set forth in the rule.
ITEM I: The exact name of the issuer and its predecessor, if any:
The exact name of the issuer is North Bay Resources Inc. The issuer’s
predecessor is Ultimate Jukebox, Inc., a Delaware Corporation,
incorporated on June 18, 2004.
ITEM II: The address of its principal executive offices:
PO Box 162
Skippack, PA 19474
Telephone: (215) 661-1100
Fax: (215) 661-8959
http://www.northbayresources.com
ITEM III: The state of incorporation, if it is a corporation:
The issuer is a Delaware corporation, incorporated on June 18, 2004.
ITEM IV: The name and address of the transfer agent:
Colonial Stock Transfer
455 East 400 South, Suite 100
Salt Lake City, Utah 84111
(801) 355-5740
The transfer agent is registered under the Exchange Act. The regulatory
authority of the transfer agent is the SEC.
ITEM V: The nature of the issuers business:
A. Business Development
The Issuer was incorporated in the State of Delaware on June 18, 2004,
under the name Ultimate Jukebox Inc, which merged with NetMusic
Entertainment Corporation on October 22, 2004 to become NetMusic
Entertainment Corporation. On March 10, 2006, the issuer changed its
corporate name to Enterayon, Inc.
On January 15, 2008, the issuer merged with and assumed the name of its
wholly-owned subsidiary, North Bay Resources Inc.
The company’s fiscal year end is Dec.31.
Neither North Bay Resources Inc. nor its predecessor has ever been in
bankruptcy, receivership or any similar proceedings.
Neither North Bay Resources Inc. nor its predecessor has ever been in any
default of the terms of any note, loan, lease, or other indebtedness or
financing arrangement requiring the issuer to make payments;
Control of the company changed on February 16, 2006, when Glen
Starchman, the Company’s Chairman and CEO, resigned. Perry Leopold
was appointed the Company’s new Chairman and Chief Executive Officer,
and assumed the additional role of President of the Corporation.
The issuer’s securities have never been delisted by any securities exchange
or NASDAQ. There are no current, past, pending or threatened legal
procedures or administrative actions that could have a material effect on
the issuer’s business.
B. Business of Issuer
1. The issuers primary and secondary SIC codes:
The issuer’s primary SIC code is 1000.
2. If the issuer has never conducted operations, is it in the
developmental stage or currently conducting operations:
The issuer is currently conducting operations.
3. If the issuer is considered a “shell company” pursuant to SEC Rule
405 of the Securities Act of 1933;
The issuer is not a shell company pursuant to SEC Rule 405 of the
Securities Act of 1933
4. State the names of any parent, subsidiary, or affiliate of the issuer,
and describe its business purpose, its method of operations, its
ownership and whether it is included in the financial statements
attached to its disclosure statement:
North Bay’s wholly-owned subsidiary, Lakeridge Mining Corp., is a
mining development company focused on developing properties in the
Trout Lake region of British Columbia, Canada.
5. The effect of existing or probable governmental regulations on the
business:
The issuer is not subject to any current or probable US governmental
regulations. The issuer is subject to compliance with the Mineral
Tenure Act of British Columbia, Canada, related to the acquisition,
maintenance, and development of its mining properties within the
Province of British Columbia.
6. An estimate of the amount spent during each of the last two fiscal
years on research and development activities, and, if applicable,
the extent to which the cost of such activities are borne directly by
customers:
N/A
7. Costs and effects of compliance with environmental laws (federal,
state and local):
The issuer is not currently subject to compliance with any federal, state
or local environmental laws.
8. Number of total employees and the number of full time employees:
The issuer currently has one full-time employee, one part-time
employee, and 3 work-for-hire contractors.
C. Investment Policies
1. Investments in real estate or interests in real estate:
The issuer does not intend to invest in real estate and currently has no
plans or interests in real estate.
2. Investments in real estate mortgages:
The issuer does not intend to invest in real estate mortgages.
3. Securities of or interests in persons primarily engaged in real
estate activities:
The issuer does not intend to invest in securities or interests in persons
primarily engaged in real estate activities.
ITEM VI: The nature of the products or services offered:
1. Principal products or services and their markets:
North Bay Resources Inc. engages in the acquisition, management, and
development of precious metals and other mineral properties.
.
2. Distribution methods of the products or services:
N/A
3. Status of any publicly announced new product or service:
On March 31 2006, the company executed an option agreement to earn
a 100% interest in the Horseshoe Property in the Stewart mining camp
of British Columbia, Canada. On December 31, 2007, the company
elected to not renew the option, and has released the property.
On June 12, 2006, the Company announced the formation of a new
wholly-owned subsidiary, North Bay Resources Inc. On February 7,
2008, the company announced that it has merged with and assumed the
name of North Bay Resources Inc.
On August 14, 2006, the company announced the acquisition of the
Monte Cristo and Chilco Properties in the New Westminster mining
camp of British Columbia, Canada. The Monte Cristo and Chilco
Properties are located in a wide section of the Lillooet River Valley,
approximately 31 kilometers northwest of the north end of Harrison
Lake, and comprise two contiguous staked claims composed of 13
units that cover approximately 270 hectares (667 acres). The
mineralization of the property consists of precious metal bearing sands
that cover a 400 to 800 meter wide section of the Lillooet River valley.
These post-Pleistocene sands contain gold and platinum in submicron
sized particles. As recorded by the BC Ministry of Mines MINFILE
No 092GNE013 and 092GNE019, the sands are estimated to contain
inferred reserves of 22.7 million tonnes down to a depth of 30 meters,
and that a 1.4 kilogram sample of sand, taken at least a meter below
surface, assayed 2.47 grams per tonne gold, 4.80 grams per tonne
silver, 2.77 grams per tonne platinum, and 2.71 grams per tonne
palladium.
Since September 1, 2006, the company has independently staked
additional mineral and placer claims throughout British Columbia. As
of February 7, 2008, the company owns a 100% undivided interest in
over 100 mineral and placer claims throughout British Columbia,
encompassing over 40,000 acres. A full description of all of the
company’s properties is available at the company website at
http://www.northbayresources.com
4. Competitive business conditions, the issuer’s competitive position
in the industry and methods of competition:
N/A
5. Sources and availability of raw materials and the names of
principal suppliers:
N/A
6. Dependence on one or a few major customers:
N/A
7. Patents, trademarks, licenses, franchises, concessions, royalty
agreements or labor contracts, including their duration:
N/A
8. The need for any government approval of principal products of
services:
The issuer is not currently subject to any governmental approval
for any of its products and services.
ITEM VII: The nature and extent of the issuer’s facilities:
1. Describe the general character and location of all
materially important properties held or intended to
be acquired by or leased to the issuer and describe
the present or proposed use of such properties and
their suitability and adequacy for such use.
Properties not yet acquired should be identified as
such:
The issuer currently owns no real estate.
2. State the nature of the issuer’s title to, or other
interest in, such properties and the nature of the
issuer’s title to, or other interest in, such properties
and the nature and amount of all material
mortgages, liens or encumbrances against such
properties. Disclose the current principal amount of
each material encumbrance, interest and
amortization provisions, prepayment provisions,
maturity date and the balance due at maturity
assuming no prepayments:
The issuer does not hold title to any real estate properties.
Subsequently, the issuer does not have any mortgages, liens or
encumbrances against such properties.
3. Outline briefly the terms of any lease or any of such
properties or any option on contract to purchase or
sell any of such properties:
N/A
4. Outline briefly any proposed program for the
renovation, improvement or development of such
properties, including the estimated cost thereof and
method of financing to be used. If there are no
present plans for the improvement or development
of any unimproved or undeveloped property, so
state and indicate the purposed for which the
property is to held or acquired:
The issuer does not have any plans to renovate, improve or develop
any properties. There is no property held or acquired by the issuer at
this time.
5. Describe the general competitive conditions to which
the properties are or may be subject:
There are no real-estate properties held by the issuer, therefore there
are no general competitive conditions to which the properties are or
may be subject to.
6. Include a statement as to whether, in the opinion of
the management of the issuer, the properties are
adequately covered by insurance:
To the extent of the knowledge of the issuer, the administrative and
management spaces are adequately insured.
7. With respect to each unimproved property which is
separately described, provide the following in
addition to the above:
a. Occupancy rate:
None.
b. Number of tenants occupying 10% or more of the rentable
square footage and principal provisions of each of their leases:
None.
c. Principal business, occupations and professions carried on in
or from, the building:
None.
d. The average effective annual rental per square foot or unit:
None.
e. Schedule of the lease expirations for each of the next ten
years, stating:
i. The number of tenants whose leases will expire:
N/A.
ii. The total area in square feet covered by such leases:
None.
iii. The annual rental represented by such leases:
N/A
iv. The percentage of gross annual rental represented
by such leases:
N/A
f. Each of the properties and components thereof upon which
depreciation is taken, setting forth the:
i. Federal Tax Basis:
N/A
ii. Rate:
N/A
iii. Method:
N/A
iv. Life claimed with respect to such property or
component thereof for purposes of depreciation:
N/A
g. The realty tax rate, annual realty taxes and estimated taxes
on any proposed improvements:
N/A
ITEM VIII: The exact title and class of security:
Common voting stock, single class
CUSIP: 657488 102
Trading Symbol: NBRI
ITEM IX: The par of stated value of the security:
$.001 – Common voting stock, single class
ITEM X: The number of shares or total amount of the Securities outstanding as
of the issuer’s most recent fiscal year:
As of the period ending March 31, 2008, the issuer had the following:
(i) Authorized Shares:
250,000,000 Common Shares
10,000,000 Preferred Shares
(ii) Shares Outstanding:
16,222,627 Common Shares
100 Series I Preferred Shares [1]
(iii) Freely tradable issued common shares: 3,539,288 [2]
Shareholders: 1,318
[1] Each outstanding share of the Series I Preferred Stock represents its proportionate
share of eighty per cent (80%) of all votes entitled to be voted and which is allocated to
the outstanding shares of Series I Preferred Stock.
[2] In February 2005, the issuer declared a 4 for 1 stock split. On March 22, 2006 the
Issuer declared a reverse stock split at a ratio of 1 for 10. On February 7, 2008, the Issuer
declared a reverse stock split at a ratio of 1 for 10.
ITEM XI: List of securities offerings and shares issued for services in the past
two years
1,100,000 shares of restricted common stock and 1,000,000 warrants
convertible to common stock at an exercise price of $0.15 were issued on
September 28, 2006 to A.S. Austin Company for investor relations
services.
250,000 shares of restricted common stock were issued on August 9,
2007 for consulting services related to a proposed joint-venture with
another mining company in British Columbia.
ITEM XII: The names of the chief executive officer and Members of the Board of
Directors:
A. Executive Officers
Perry Leopold Chief Executive Officer
PO Box 162
Skippack, PA 19474
Mr. Leopold has led a number of successful enterprises
over the past 25 years in a diverse number of fields, ranging from
the arts and technology to finance and natural resources. In February
2006, Mr. Leopold was engaged as CEO to engineer the company's
total corporate restructuring and lead its re-emergence as the
natural resources company formerly known as Enterayon, Inc.
Mr. Leopold subsequently designed the company's business model
and incorporated state-of-the-art technology to assist in cost-efficient
acquisition targeting, which has resulted in over 50 acquisitions
of high-quality mining properties throughout British
Columbia. Educated at the University of Pennsylvania, Mr.
Leopold is also the founder and President of Speebo Inc., a privately-
owned exploration and development company. In addition, he is
currently serving as President of Circular Logic, Inc, a registered
Commodity Trading Advisor (CTA) and Commodity Pool Operator
(CPO) firm specializing in commodity trading system development.
Currently the shares beneficially owned by Mr. Leopold are
11,257,125 restricted common shares and 100 Series I preferred
shares.
B. Directors:
Perry Leopold – Chairman
Fred Michini – Director
Mr. Michini is a tax, financial, management accounting and
litigation support specialist, and has extensive previous experience
serving as the Chief Financial Officer of a variety of public and
private companies, including Speebo, Inc, a private mineral
exploration company currently controlled by North Bay’s Chief
Executive Officer, Perry Leopold. Mr. Michini is also a Certified
Public Accountant, has been Partner and Managing Partner of two
regional accounting firms, has served as an auditor for the U.S.
General Accounting Office, and is a former Board Member of the
Central Montgomery County Chamber of Commerce. Mr. Michini
earned his B.S. from LaSalle University and his MBA from
Temple University.
Currently the shares beneficially owned by Mr. Michini are
51,000 restricted common shares.
C. General Partners:
None at this time.
D. Control Persons:
1. Perry Leopold is the only affiliate with more
than 5% of the common shares outstanding.
2. Perry Leopold and Fred Michini have not
been subject to a conviction in a criminal
proceeding or named as a defendant in a
pending criminal proceeding.
3. Perry Leopold and Fred Michini have not
been in the subject of the entry of an order,
judgment, nor decree, not subsequently
reversed, suspending or vacated, by a court
of competent jurisdiction that permanently
or temporarily enjoined, barred, suspended
or otherwise limited such person’s
involvement in any type of business,
securities, commodities, or banking
activities.
4. Perry Leopold and Fred Michini have not
been the subject of a finding or judgment by
a court of competent jurisdiction (in a civil
action), the SEC, the CFTC, or a state
securities regulator of a violation of a
federal or state securities or commodities
law, which finding or judgment has not been
reverse, suspended or vacated.
5. Perry Leopold and Fred Michini have not
subject to the entry of any order by selfregulatory
organization that permanently or
temporarily barred, suspended or otherwise
limited such persons; involvement in any
type of business or securities activities.
It should also be noted there are no beneficial owners of
securities exceeding ten percent of the issued and outstanding
shares with the exception of Perry Leopold.
There are no known relationships or conflicts of interest existing
among and/or between the issuer’s officers, directors and
shareholders, or among and between the shareholders and the
issuer, its predecessors, its present and prior officers and directors,
and other shareholders.
There are no known related party transactions or conflicts of
interests with regard to any executive officer or director with
competing professional or personal interests. However, as
Mr. Leopold and Mr. Michini are also directors of Speebo,
Inc., it is possible that a conflict might arise in the future
should the two companies enter into a joint-venture or some
other related-party transaction.
ITEM XIII: Beneficial Owners
Perry Leopold: 11,257,125 restricted common shares, 100 restricted
Series I preferred shares
Fred Michini: 51,000 restricted common shares
ITEM XIV: The name of any outside providers that advise the issuer on matters
relating to the operations, business development and disclosure. The
information should include the advisor(s) name, address, telephone,
and email address.
1. Investment Banker:
None at this time
2. Promoters:
None at this time.
3. Counsel:
The issuer’s counsel is:
Virginia K. Sourlis, Esq.
The Sourlis Law Firm
The Galleria
2 Bridge Avenue
Building 5, 1st Floor
Red Bank, New Jersey 07701
4. Accountant or Auditor:
The issuer, at this time, has not identified an accountant or auditor.
5. Public Relations Consultant:
The Company does not currently have an outside public relations
consultant and handles all public relations activities internally.
6. Investor Relations Consultant:
None at this time.
7. Any other advisor(s) that assisted, advised, prepared
or provided information with respect to this
disclosure documentation
N/A
ITEM XV: The issuer’s most recent balance sheet and profit and loss and
Retained Earnings Statements:
See attached financial statement.
ITEM XVI: Similar Financial Information for the prior two (2) fiscal years of
issuer’s existence:
See attached financial statements.
ITEM XVII: Whether the quotation is being submitted or published directly or
indirectly on behalf of the issuer, or any director, officer or any
person, directly or indirectly the beneficial owner of more than 10
percent (%) of the outstanding units or shares of any equity, security
of the issuer, and person:
To the best of the issuer’s knowledge, information and belief, quotations
with respect to the issuer’s stock are not being submitted or published
directly or indirectly on behalf of the issuer or director, officer or
beneficial owner of more than 10% of any class of its issued and
outstanding securities.
ITEM XVIII: Indemnification of Directors and Officers
The Bylaws (Article VII) of the issuer provide for the indemnification of
any director, officer, employee or agent of the issuer, or any person
serving in such capacity for any other entity or enterprise at the request of
the issuer against any and all legal expenses (including attorney’s fees),
claims and liabilities arising out of any action, suit or proceeding, except
an action by or in the right of the issuer, Nevada law also permits
indemnification.
Insofar as indemnification for liabilities arising under the federal securities
laws may be permitted to directors and controlling persons of the issuer,
the issuer has been advised that in the opinion of the Securities and
Exchange Commission such indemnification is against public policy as
express in the law and is, therefore unenforceable. In the event a demand
for indemnification is made the issuer will, unless in the opinion of its
counsel the matter has been settled by controlling precedent, submit to a
court of appropriate jurisdiction the question whether such indemnification
by it is against public policy as expressed in the law and will be governed
by the final adjudication of such issue.
ITEM XIX: Exhibits
The undersigned has read all of the items set forth herein and, as to the
best of the undersigned’s knowledge and belief, the information contained
herein in accurate and complete.
Dated, this 5th day of June, 2008
North Bay Resources Inc.
By:____/signed/_______________________________
Perry Leopold
Chairman and Chief Executive Officer
NBRI DD- 100 mineral and placer claims encompassing approximately 40,000 acres
Welcome to the board - here is the link to NBRI properties
http://www.northbayresources.com/propndx.html
--------------------------------------------------------------------------------
As of July 15, 2009, North Bay Resources Inc. owns over 100 mineral and placer claims encompassing approximately 40,000 acres throughout British Columbia, Canada.
The following properties are our primary target areas of focus:
Willa: Silverton, BC (Gold, Silver, Copper)
http://www.northbayresources.com/willa.html
Monte Cristo: Lillooet River Valley, BC (Platinum, Palladium, Gold, Silver)
http://www.northbayresources.com/montecristo.html
Fraser River Platinum: Lytton, BC (Platinum, Iridium) [JV]
http://www.northbayresources.com/fraser.html
Silver Cup Ridge: Trout Lake, BC (Gold, Silver, Copper)
http://www.northbayresources.com/silvercup.html
Tulameen Platinum Project: Tulameen, BC (Platinum, Palladium, Rhodium, Gold, Silver)
http://www.northbayresources.com/lodestone.html
Tor: Tulameen, BC (Platinum, Palladium, Rhodium, Gold, Silver)
http://www.northbayresources.com/tor.html
Rainbow Creek: Mackenzie, BC (Platinum, Iridium, Gold)
http://www.northbayresources.com/rainbow.html
Lardeau Creek: Trout Lake, BC (Gold, Silver, Platinum, Nickel, Copper)
http://www.northbayresources.com/lardeaucreek.html
Silver Leaf: Slocan, BC (Silver, Gold, Zinc) [JV]
http://www.northbayresources.com/silverleaf.html
Gold Hill Project: Salmo, BC (Gold, Silver, Molybdenum, Tungsten) [JV]
http://www.northbayresources.com/salmo.html
Rachel: Salmo, BC (Gold, Silver)
http://www.northbayresources.com/rachel.html
Connie Hill: Vancouver Island, BC (Gold, Silver, Copper)
http://www.northbayresources.com/conniehill.html
Argo Gold: Tatlayako Lake, BC (Gold, Silver)
http://www.northbayresources.com/argo.html
North Star Silver: Slocan, BC (Silver, Gold, Lead, Zinc)
http://www.northbayresources.com/northstar.html
Coronation Gold: Slocan, BC (Gold, Silver, Lead, Zinc)
http://www.northbayresources.com/coronation.html
Pinnacle Gold: Pilldolla Creek, BC (Gold, Silver, Copper)
http://www.northbayresources.com/pinnacle.html
Loughborough Gold: Loughborough Inlet, BC (Gold, Silver)
http://www.northbayresources.com/loughborough.html
Granite Creek Platinum: Tulameen, BC (Platinum, Palladium, Iridium, Rhodium
http://www.northbayresources.com/granite.html
Lynx Gold: Vernon, BC (Gold, Silver)
http://www.northbayresources.com/lynx.html
Bouleau Creek Gold: Vernon, BC (Gold, Silver)
http://www.northbayresources.com/boul.html
NBRI Mining Stock .02 .0239
I been reading your SRSR / mining stock posts / etc
Ever look at this upcoming low float mining stock?
NBRI ?
IHUB BOARD -
http://investorshub.advfn.com/boards/board.aspx?board_id=6441
Website-
http://www.northbayresources.com/
News
Wed, Jul 8, 2009
• NBRI.PK North Bay Resources Inc. (NBRI) Acquires Cherry Gold Property
Marketwire (Wed, Jul 8)
Tue, Jun 30, 2009
• NBRI.PK North Bay Resources Inc. (NBRI) Retains Auditor to Continue Uplisting Process
Marketwire (Tue, Jun 30)
Thu, Jun 25, 2009
• NBRI.PK North Bay Resources Inc. (NBRI) Expands Size and Scope of Bouleau Creek Gold Property
Marketwire (Thu, Jun 25)
Fri, Jun 12, 2009
• NBRI.PK North Bay Issues Update on Fraser River Platinum Property
Marketwire (Fri, Jun 12)
• NBRI.PK North Bay Issues Update on Fraser River Platinum Property
Marketwire (Fri, Jun 12)
Thu, Jun 4, 2009
• NBRI.PK North Bay Resources (NBRI) Increases Holdings in Slocan Silver District
Marketwire (Thu, Jun 4)
• NBRI.PK North Bay Resources (NBRI) Increases Holdings in Slocan Silver District
Marketwire (Thu, Jun 4)
Tue, May 19, 2009
• NBRI.PK North Bay Resources (NBRI) Receives Approval for Phase II Work Program at Fraser River Platinum JV Property
Marketwire (Tue, May 19)
Thu, May 14, 2009
• NBRI.PK Hidalgo Mining International (HMIT) Issues Update on Gold Hill Project Joint Venture
Marketwire (Thu, May 14)
• NBRI.PK Hidalgo Mining International (HMIT) Issues Update on Gold Hill Project Joint Venture
Marketwire (Thu, May 14)
Tue, May 12, 2009
• NBRI.PK North Bay Issues Shareholder Update
Marketwire (Tue, May 12)
• NBRI.PK North Bay Issues Shareholder Update
Marketwire (Tue, May 12)
Tue, May 5, 2009
• NBRI.PK North Bay Resources (NBRI) Retains International Monetary
Marketwire (Tue, May 5)
• NBRI.PK North Bay Resources (NBRI) Retains International Monetary
Marketwire (Tue, May 5)
Thu, Apr 2, 2009
• NBRI.PK UPDATE: North Bay Resources (NBRI) Issues Update on Gold Discovery at Fraser River Platinum JV Property
Marketwire (Thu, Apr 2)
• NBRI.PK North Bay Resources (NBRI) Issues Update on Gold Discovery at Fraser River Platinum JV Property
Marketwire (Thu, Apr 2)
Tue, Mar 24, 2009
• NBRI.PK North Bay Resources Inc. (NBRI) Acquires Bouleau Creek Gold Property
Marketwire (Tue, Mar 24)
Tue, Mar 10, 2009
• NBRI.PK North Bay Resources (NBRI) Stakes New Claims; Increases Scope of Monte Cristo Gold-Platinum Property
Marketwire (Tue, Mar 10)
Thu, Mar 5, 2009
• NBRI.PK North Bay Resources Updates Financing Plans
Marketwire (Thu, Mar 5)
• NBRI.PK North Bay Resources Updates Financing Plans
thanks
pp
tajiti NBRI .02 .0249
I been reading your SRSR charts / etc
Ever look at this upcoming low float mining stock?
NBRI ?
IHUB BOARD -
http://investorshub.advfn.com/boards/board.aspx?board_id=6441
Website-
http://www.northbayresources.com/
News
Wed, Jul 8, 2009
• NBRI.PK North Bay Resources Inc. (NBRI) Acquires Cherry Gold Property
Marketwire (Wed, Jul 8)
Tue, Jun 30, 2009
• NBRI.PK North Bay Resources Inc. (NBRI) Retains Auditor to Continue Uplisting Process
Marketwire (Tue, Jun 30)
Thu, Jun 25, 2009
• NBRI.PK North Bay Resources Inc. (NBRI) Expands Size and Scope of Bouleau Creek Gold Property
Marketwire (Thu, Jun 25)
Fri, Jun 12, 2009
• NBRI.PK North Bay Issues Update on Fraser River Platinum Property
Marketwire (Fri, Jun 12)
• NBRI.PK North Bay Issues Update on Fraser River Platinum Property
Marketwire (Fri, Jun 12)
Thu, Jun 4, 2009
• NBRI.PK North Bay Resources (NBRI) Increases Holdings in Slocan Silver District
Marketwire (Thu, Jun 4)
• NBRI.PK North Bay Resources (NBRI) Increases Holdings in Slocan Silver District
Marketwire (Thu, Jun 4)
Tue, May 19, 2009
• NBRI.PK North Bay Resources (NBRI) Receives Approval for Phase II Work Program at Fraser River Platinum JV Property
Marketwire (Tue, May 19)
Thu, May 14, 2009
• NBRI.PK Hidalgo Mining International (HMIT) Issues Update on Gold Hill Project Joint Venture
Marketwire (Thu, May 14)
• NBRI.PK Hidalgo Mining International (HMIT) Issues Update on Gold Hill Project Joint Venture
Marketwire (Thu, May 14)
Tue, May 12, 2009
• NBRI.PK North Bay Issues Shareholder Update
Marketwire (Tue, May 12)
• NBRI.PK North Bay Issues Shareholder Update
Marketwire (Tue, May 12)
Tue, May 5, 2009
• NBRI.PK North Bay Resources (NBRI) Retains International Monetary
Marketwire (Tue, May 5)
• NBRI.PK North Bay Resources (NBRI) Retains International Monetary
Marketwire (Tue, May 5)
Thu, Apr 2, 2009
• NBRI.PK UPDATE: North Bay Resources (NBRI) Issues Update on Gold Discovery at Fraser River Platinum JV Property
Marketwire (Thu, Apr 2)
• NBRI.PK North Bay Resources (NBRI) Issues Update on Gold Discovery at Fraser River Platinum JV Property
Marketwire (Thu, Apr 2)
Tue, Mar 24, 2009
• NBRI.PK North Bay Resources Inc. (NBRI) Acquires Bouleau Creek Gold Property
Marketwire (Tue, Mar 24)
Tue, Mar 10, 2009
• NBRI.PK North Bay Resources (NBRI) Stakes New Claims; Increases Scope of Monte Cristo Gold-Platinum Property
Marketwire (Tue, Mar 10)
Thu, Mar 5, 2009
• NBRI.PK North Bay Resources Updates Financing Plans
Marketwire (Thu, Mar 5)
• NBRI.PK North Bay Resources Updates Financing Plans
thanks
pp
BRYN .06 on low volume
Yes this moves on air
NBRI .025 - mining stock / low floater
With volume could be the next big stock
ihub board for NBRI
http://investorshub.advfn.com/boards/board.aspx?board_id=6441
GLA
PP
Welcome SRSR holding up well
I will membermark you and add your board to my favorites
GLA
PP
PVRE - interesting 1 Year chart
Must be another low floater
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=PVRE
GLA
PP
welcome - nice board
GLA
PP
BRYN - doing DD here also
Thanks
GLA
PP
Thanks - BRYN
See you on the BRYN board -
Doing DD