North Bay Resources Inc (NBRI)

[tondoorijoe]

bob did not like it. company is more than 3 million in debt to perry and note holders and doesnt hold any properties that will host mining in the futre. thats why rich people are rich dont get scamed

In August 2009, the Board of Directors approved and the Company executed a management agreement with The PAN Network
(“PAN”), a private business management and consulting company wholly-owned by the Company’s former Chief Executive
Officer. The agreement is in consideration of $18,000 per month, and calls for PAN to provide (a) office and board room space,
including reception, utilities, landline phone/fax, computers, copiers, projectors, and miscellaneous services; (b) financial services,
including accounting, corporate filing and bookkeeping; (c) project and administrative services; (d) resource targeting, acquisition,
development and management services; (e) marketing services, communications, marketing materials management, and writing
services; (f) strategic planning, milestone management and critical path analysis; and (g) online services, including web site hosting,
web site design, web site maintenance, and email services. The agreement includes Mr. Leopold’s salary of $15,000 per month,
which will accrue entirely to deferred compensation during any period in which the commitment remains unpaid. The term of the
agreement is one year, and automatically renews annually on January 1 each year unless otherwise terminated by either party. This
agreement was suspended on May 16, 2022 pending the completion of a private transaction by Mr. Leopold. As of September 30,
2022 and December 31, 2021, the outstanding balance of the NQDC plan is $2,289,920 and $2,222,920, respectively.