Mix dry ingredients together (sugar, salt, cinnamon and nutmeg) and put aside. Place the almonds in a blender or food processor and process until finely ground. Add 1/3 cup of the soy milk and process until smooth. Add the dry ingredients mixture, remaining soy milk, almond extract, vanilla extract, and process the mixture until very smooth and creamy. Transfer the mixture to a large casserole dish. Place 2-4 slices of the bread in the almond mixture, flip them over to coat the other side, and then let the slices of bread soak in the liquid mixture for a couple minutes. Lightly oil a large non-stick skillet (or griddle), and place it over medium heat. Using either a fork or a spatula, carefully remove the slices of bread from the almond mixture, and place them in the hot skillet. Cook the bread slices for 1-2 minutes or until lightly browned. Carefully flip the slices over, and cook until browned. While cooking the first batch, repeat the soaking procedure for the remaining bread. Transfer the French toast to a large plate. Lightly oil the skillet again with oil and repeat the cooking procedure for the remaining slices of bread. Serve with your choice of jams, preserves, syrups, or fresh fruit.