North Bay Resources Inc (NBRI)

[Anvil]

Technically, under GAAP, a company has to have sufficient room under the a/s to account for conversion of all equity linked instruments.

That is what I believe they are doing. Fully diluted is probably cloe to or over a billion so raise it to 1.5.

To think Perry would use shares at this price for an acquisition does not make sense.

Unfortunately, with the declining price, this is where dilution really accelerates as shares are worth substantially less and less.