North Bay Resources Inc (NBRI)

[foxwoodsfan]

Of course they're selling shares anyone would have to be naïve to think they weren't. However I don't think they're selling shares down here because even with a VWAP discount they wouldn't be making an acceptable VC margin. My guess is they would not be selling for less than 25% above the strike price after discounts. So for example let's say a tranche is out based on a weighted average of .012 their 10% discount gives them shares at .0108, that means they want to dump at around .0135. This is pretty simple math but again OF COURSE THEY ARE GOING TO DUMP THEIR SHARES, THEY ARE NOT AN INSTITUTIONAL INVESTOR.