GREAT BASIN SCIENTIFIC, INC. (NASDAQ:GBSN) Files An 8-K Entry into a Material Definitive Agreement

Item1.01

As previously disclosed on the Current Report on Form 8-K filed
with the SEC on June 29, 2016, on June 29, 2016, Great Basin
Scientific, Inc. (the Company) entered into a Securities Purchase
Agreement (the 2016 SPA) in relation to the issuance and sale by
the Company to certain buyers as set forth in the Schedule of
Buyers attached to the 2016 SPA (the 2016 Note Buyers) of $75
million aggregate principal amount of senior secured convertible
notes (the 2016 Notes) and related Series H common stock purchase
warrants (the Series H Warrants).

On January 19, 2017, the Company and certain 2016 Note Buyers
holding enough of the 2016 Notes and Series H Warrants to
constitute the required holders under Section 19 of the 2016
Notes entered into separate amendment agreements to amend the
terms of the 2016 Notes (the Amendment Agreement)..

to the terms of the Amendment Agreement, Section 8 of the Notes,
which contained the provisions of the 2016 Notes dealing with
installment payments, the Companys ability to elect to convert
installment payments, delivery of pre-installment conversion
shares in relation to converted installment payments and the
ability of Noteholders to accelerate or defer installment amounts
was eliminated and any reference to any defined terms appearing
elsewhere in the 2016 Notes that related solely to Section 8 and
that were not otherwise used in the 2016 Notes were deleted. Any
pre-installment conversion shares received by any holder of 2016
Notes with respect to which the related installment date has not
yet occurred as of the date of Amendment Agreement and which
shall not occur as a result of the Amendment Agreement,
immediately reduce the principal amount of the 2016 Notes
outstanding by $0.044 per a pre-installment conversion share so
received.

Additionally, to the Amendment Agreement Section 3(b)(ii) of the
2016 Notes which set forth the conversion price at which optional
conversions at the election of the holder of the 2016 Notes could
be made was amended to define Conversion Price, as of any
conversion date or other date of determination, as the lowest of
(x) $2.00 per share, subject to adjustment as provided herein,
(y) 85% of the lowest trading price of the Companys common stock
during the five (5) consecutive trading day period ending and
including the trading day on which the holder delivers a
conversion notice to the Company (such trading prices to be
appropriately adjusted for any share dividend, share split, share
combination, reclassification or similar transaction during such
five (5) consecutive trading day period) and (z) 85% of the
Weighted Average Price (as defined in the 2016 Notes) of the
Companys common stock during the period beginning at 9:30:01
a.m., New York time (or such other time as the principal market
publicly announces is the official open of trading), and ending
at 1:00:00 p.m., New York time on the delivery date of a
conversion notice.

The foregoing is a summary description of the material terms of
the Amendment Agreements and is qualified in its entirety by the
form of Amendment Agreement, attached as Exhibit 10.1 to this
Current Report on Form 8-K and incorporated by reference to this
Item1.01.

The information disclosed in Item1.01 of this Current Report on
Form 8-K is incorporated by reference into this Item3.03.

About GREAT BASIN SCIENTIFIC, INC. (NASDAQ:GBSN)

Great Basin Scientific, Inc. is a molecular diagnostic testing company. The Company is focused on the development and commercialization of its molecular diagnostic platform designed to test for infectious diseases, especially hospital-acquired infections. Its commercially available tests are clostridium difficile (C. diff) and Group B Strep. Its system includes an analyzer and a diagnostic cartridge. Each analyzer contains a module into, which individual test cartridges are placed. Its other diagnostic assays in the late stages of product development include a pre-surgical nasal screen for Staphylococcus aureus (SA), food borne pathogen panel, panel for candida blood infections, test for pertussis and a test for Chlamydia tracomatis (CT)/Neisseria gonorrhea (NG). The Company also has a pipeline of assays in an early stage of development, including respiratory testing and sepsis (blood infection) panels. It markets a platform of molecular testing in small to medium sized hospitals.

GREAT BASIN SCIENTIFIC, INC. (NASDAQ:GBSN) Recent Trading Information

GREAT BASIN SCIENTIFIC, INC. (NASDAQ:GBSN) closed its last trading session 00.0000 at 0.0602 with 6,203 shares trading hands.