North Bay Resources Inc (NBRI)

[ryanonthevedder]

Thanks Malc, I don't see a point in anything other that spirited and productive conversation.

Im not sure where you are getting your O/S numbers from

Pages 64 through 70 on the 10K that I linked, states the share history since 2004.

To date they have had no problem securing continuing convertible debt. I think that is the absolute worst possible way to fund any business ventures. I think that this is common sense to most.

It seems to me that it may have been a good way to secure better terms for their debt in anticipation of the EB5 funding. I would surmise that NBRI was planning on the funding coming through a little quicker than it is. It is proving to be more of a role of the dice than guaranteed funding, but the fact remains that we still have 6 months before things start hitting the fan (except for the LOC of course).

So personally I think that although convertible debts are not ideal they are better than straight up dilution through share issuance . The hope that EB5 will show up and cancel all those conversions is worth the headache of wondering whether the debts will be converted or not.

The money has to come from somewhere.