Replies to post #80952 on North Bay Resources Inc (NBRI)

[Sabreur]

Very sorry to hear that. Email him and ask him. Bring up anvil's theory:

"If Perry really believed we are on the gold, milk the V/C for whatever capital and file BK, cram done the note holders, and emerge private and reverse merge into new shell. Start fresh, new shareholders, producing mine. BK courts much prefer a management led reorganization plan than a creditor plan."

At least it will force him to say yes or no.

[es1]

Goodfree without gold in profitable or nearly profitable amounts nothing could have stopped this. but it was needed at the end of last year at the latest. IMO

They are going to dilute the crap out of this because they can.
Every conversion adds to the OS (as I am sure you know) that allows the following conversion to be larger and still remain under the limit for owning 10%.
The financiers know this is dying and are converting as fast as they can. They need to get the OS up so that they can convert out and get their money.

The conversions are now under .002 that is 10M shares a week.
Imagine what will happen to this stock when today and yesterday are repeated every week. Tats what 10M in dilution will do here.
That is what NBRI is facing.
Even I am a bit shocked that it didn't at least slow down at .003 it walked right past it.
If it happens tomorrow the PPS will be in the .001s
And I will be shocked a bit less if that happens.

The Financing here is going to push it to the .000s in a matter of days if they are not stopped.
The ONLY way to stop them is to buy the conversions back and they do not have the profits to do that.

It really does suck.
You never know what they could have or would have found if they had used the money more wisely but it is what it is and there is nothing anyone without at least $1M can stop.

NBRI is very close to being out of money.
The conversions will finally stop when the financiers tell PL they are no longer willing to buy his shares and the funding dries up.

At the rate they are going it will be in a few months