14 Mar 2014capital raising announcement▼ Bad
Issued a $30,000 convertible note to Union Capital, a further new toxic-debt lender, on the now-standard discount-to-market terms.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
14 Mar 2014capital raising announcement▼ Bad
Another partial JMJ note conversion into shares.
6 Feb 2014capital raising announcement▼ Bad
Issued two $50,000 convertible notes to a new lender, GEL Properties, at a 10% discount -- yet another name added to the growing toxic-debt lender roster.
4 Feb 2014material agreement● Neutral
Paid $165,000 cash to extinguish the private-investor gold-advance obligation early -- one of the rare 2013-14 financings actually retired rather than converted or rolled forward.
22 Jan 2014capital raising announcement▼ Bad
Another partial JMJ note conversion into shares.
10 Jan 2014material agreement● Neutral
Formalized a joint-venture arrangement with its own Ruby Gold subsidiary, under which North Bay funds Ruby's operations via loans in exchange for a 50% share of eventual net income once debt is repaid -- effectively an internal financing structure ahead of a planned separate SEC registration for Ruby Gold.
9 Jan 2014capital raising announcement▼ Bad
Amended the LG Capital note's terms and made another partial JMJ note conversion -- routine continuation of the by-now-standard financing mix.
13 Dec 2013capital raising announcement▼ Bad
Another partial JMJ note conversion into shares, closing out 2013's financing activity on the same pattern that had run through the whole year.
20 Nov 2013material agreement▼ BadMajor
Restructured the Ruby Mine mortgage again with RDC, replacing the looming $1 million year-end payment with smaller monthly installments stretched to December 2015, and paid RDC in warrants for the accommodation -- another sign the mortgage's terms kept being pushed out rather than paid down.
15 Nov 2013capital raising announcement▼ Bad
Another partial JMJ note conversion into shares.
12 Nov 2013quarterly activities report▼ Bad
NORTH BAY RESOURCES INC reported quarterly revenue of $0 and a net loss of $1 thousand for the period ended 2013-09-30.
30 Oct 2013capital raising announcement▼ Bad
Another partial JMJ note conversion into shares.
11 Oct 2013capital raising announcement▼ Bad
Issued a $56,500 convertible note to LG Capital Funding at a 10% discount, another new lender joining the growing roster of toxic-debt financiers.
4 Oct 2013capital raising announcement▼ BadMajor
Brought in a new toxic-debt lender, Typenex Co-Investment, with a $280,000 secured convertible note carrying a 10% original issue discount -- North Bay's stable of convertible-note lenders kept expanding as 2013 wore on.
4 Oct 2013capital raising announcement▼ Bad
Another partial JMJ note conversion into shares.
12 Sept 2013securities registration● Neutral
NORTH BAY RESOURCES INC filed the final prospectus for a registered offering.
19 Aug 2013capital raising announcement▼ Bad
Another partial JMJ note conversion into shares -- the recurring dilution cycle against the 2012 JMJ note continued into its second year.
12 Aug 2013securities registration● Neutral
NORTH BAY RESOURCES INC registered a securities offering with the SEC.
9 Aug 2013material agreement● Neutral
Drew a second $50,000 advance under the prepaid-gold facility for 40 more ounces of specimen gold, continuing to monetize future Ruby Mine output for near-term cash.
8 Aug 2013quarterly activities report▼ Bad
NORTH BAY RESOURCES INC reported quarterly revenue of $0 and a net loss of $1 thousand for the period ended 2013-09-30.
2 Aug 2013quarterly activities report▼ Bad
NORTH BAY RESOURCES INC reported quarterly revenue of $0 and a net loss of $1 thousand for the period ended 2013-09-30.
24 July 2013material agreement● Neutral
Amended the Tangiers equity line a third time to make draws irrevocable and strip out warrant provisions -- likely a response to the prospectus lapse just disclosed, tightening up the offering's mechanics.
19 July 2013listing compliance notice▼ Bad
NORTH BAY RESOURCES INC withdrew a registration statement, abandoning the offering it covered.
17 July 2013financial restatement▼ BadMajor
Disclosed it had inadvertently sold unregistered securities from October 2011 through April 2013 because its resale prospectus had gone stale under SEC rules, forcing a second 2013 restatement to reclassify affected shares as temporary equity -- a genuine compliance failure layered on top of the year's earlier restatement.
3 July 2013asset acquisition disposition▲ Good
Closed the sale of its Fawn and Buck mineral claims -- regained from Silver Quest's 2011 default -- to New Gold Inc. for $166,675 cash, its largest single Canadian claim sale.
25 June 2013material agreement● Neutral
Formed a joint venture with Solid Holdings to operate its 100%-owned Fraser River project, with Solid funding all equipment and personnel in exchange for the operating profits and North Bay retaining a 20% net smelter royalty -- a way to get a non-core asset worked without spending its own scarce cash.
5 June 2013material agreement● NeutralMajor
Signed a prepaid-gold forward-sale agreement, receiving a $150,000 cash advance against future delivery of up to 2,120 ounces of specimen gold from the Ruby Mine at a 10% discount to spot -- an unusual, non-dilutive financing tool alongside the convertible notes, but one that pledged future mine output.
31 May 2013capital raising announcement▼ Bad
Another partial JMJ note conversion -- the pattern of small, frequent dilutive conversions against outstanding toxic debt was now well established.
17 May 2013securities registration● Neutral
NORTH BAY RESOURCES INC amended an already-effective registration statement.
17 May 2013securities registration● Neutral
NORTH BAY RESOURCES INC amended a filing by which it registered a securities offering with the SEC.