Replies to post #55429 on North Bay Resources Inc (NBRI)

[fung_derf]

While no preferred shares have as yet been designated for issuance, we may at some future date designate and issue up to 10,000,000 shares of preferred stock having rights, preferences, and privileges senior to the rights of our common stock with respect to dividends, rights to share in distributions of our assets if we liquidate our company, or voting rights. Any preferred stock may also be convertible into shares of common stock on terms that would be dilutive to holders of common stock.

[Huggy Bear]

NBRI. Looks to me like the plan is to hopefully have two companies, NBRI and RGI, should the plan work out there, fund the Ruby via share issuance and share backed loans.

Nothing else has really changed here. Nothing concerning the white channel sampling, and the Form 10 itself says they plan to be unprofitable for at least 12 months as they will be in sampling and exploratory mining phases.

I guess tapping the share structure of two companies instead of one for funds is better than driving NBRI into the dirt eh?