Replies to post #93244 on North Bay Resources Inc (NBRI)

[Anvil]

Spanky, not sure why this is difficult to grasp. NBRI owes Tangier approx. $950k alone. Then add the all the other converts.

From 2014 10k

On December 5, 2014, the Company and Tangiers Investors, LP ("Tangiers", or “the Lender”) executed a Master Loan and Security Agreement (the "Agreement") pertaining to an aggregate of nine (9) convertible notes (the “Notes”) previously issued to Tangiers since December 29, 2011, and currently outstanding in the aggregate principal amount of $794,323 plus accrued interest. The Agreement extends the maturity date on all of the Notes collectively to November 30, 2015, and resets the conversion price as applied to the first principal amount of $100,000 of any of the Notes that Tangiers elects to convert into shares to 70% of the of the lowest VWAP of the Registrant’s common stock during the twenty (20) consecutive trading days prior to the date of conversion. The Agreement also provides that a forbearance fee in the amount of $150,000 shall be added to the aggregate principal balance due. All other terms of the individual Notes as originally agreed remain in effect. As of December 31, 2014, a discount on forbearance of $103,228 was recorded, net principal of forbearance of $46,772.

[es1]

If that is what you got from my post you shouldn't be thanking me. I must have left it too complicated since you misunderstood what you were seeing.

What I showed you was that the debt IS $1.8M

Maybe you should bring a print of that quote to an accountant. They may be able to explain it to you in simpler terms than I can.

I thought it was totally clear that the 700K was the discount. I guess it is like trying to explain the world revolving around the sun in the dark ages. It doesn't matter how you explain it a flat worlder just cant see how obvious it is that you cant fall off the edge of the world. People believe what they want to believe.

NBRI has HUGE toxic debt.

It IS $1.8M but it really doesn't need to be proven in the exact dollar amount.
$1.8M or $1.1M doesn't matter in the slightest since either way it says death.
It is 5B shares or 3B shares. No matter how many billions of shares it is the stock will be at no bid before it ever gets there