North Bay Resources Inc (NBRI)

[Spanky227]

JMJ is dumping some major shares great job picking up cheapies. ESP that 385,000 share buy.
JMJ probably has less than 500,000 shares left if that much.

Today's 8K only discussed the $1M lump sum payment that was scheduled for next month. None of the other note payments were changed. Before today NBRI was making a $20,000.00 payment each month till December 2015 and after today that $20,000.00 payment is still there each month till December 2015.

Before today's 8K NBRI would have had to pay $1,000,000.00 in Dec 2013 plus 25 more $20,000.00 payments Dec 2013 through Dec 2015.

For a grand total of $1,500,000.00.


After today's 8K they will have to pay 1 payment of $20,000.00 (December 2013) then 24 payments of $60,000.00 (Jan 2014 - December 2015). The $60,000.00 is the adjustment of 24 $40,000.00 monthly payments (instead of a $1M lumps sum) plus the original $20,000.00 monthly payment that was already going on and didn't change today.

For a grand total of $1,460.000.00.

Plus they will get an additional 4M warrants.


Yes its a fact they will pay $40,000.00 LESS now than before today's 8K NOT more. However the note holders will be getting more warrants than they had before.