Replies to post #98061 on North Bay Resources Inc (NBRI)

[foxwoodsfan]

Not sure how you can misread this, RDC took possession from the registrant (NBRI). Ruby Gold, Inc. (the subsidiary) is gone:

Item 1.02 Termination of a Material Definitive Agreement

In a letter dated January 13, 2017, the Registrant was formally noticed by Ruby Development Company (“RDC”) that effective December 31, 2016, RDC has exercised its security interest and taken possession of its collateral, Ruby Gold, Inc. ("RGI"), including without limitation all of RGI’s assets and liabilities, pursuant to the default provisions of a Secured Promissory Note between the Registrant and RDC dated July 1, 2011.

Item 9.01 Financial Statements and Exhibits

(c) Exhibits

10.1
Secured Promissory Note and Security Agreement with Ruby Development Company dated July 1, 2011, previously filed with the Company’s filing of Form 8-K, SEC file number 000-54213, filed on July 1, 2011, and incorporated by this reference as an exhibit to this Form 8-K.

[foxwoodsfan]

Ruby Development Co. (RDC) is a privately held CA company founded in 2001. RDC entered into material agreement via a secured promissory note with NBRIs subsidiary Ruby Gold, Inc. (RGI). RGI (NBRI) defaulted on the promissory note and RDC took possession. It's black and white.