Yes. That is why it was a fundamental train wreck from the beginning of engaging toxic finance.
But at that juncture all other means of financing for the exploration had not panned out, as predicted by some.
For example, EB-5 financing by the end of year 2012, Perry Leopold was "very confident" would be secured. Did not pan out.
Here in 2015 Perry Leopold is still "working" on lines of non-toxic financing moving forward, without specific details involved of what that financing might be.
Bottom line is the public has to cough up about 2M more in share buying pronto or NBRI is another brick in the wall of penny stock scam miners that ran their course.