GREAT BASIN SCIENTIFIC, INC. (NASDAQ:GBSN) Files An 8-K Unregistered Sales of Equity Securities
Item 3.02 Unregistered Sales of Equity Securities

On April 17 through April 21, 2017, certain holders of 2017 Series B Senior Secured Convertible Notes dated April 17, 2017 (the “Series B Notes”), were issued shares of Great Basin Scientific, Inc (the “Company”) common stock, par value $0.0001 per share (the “Common Stock”), to Section 3(a)(9) of the U.S. Securities Act of 1933, as amended (the “Securities Act”), in connection with mandatory conversions at the election of the Company to the terms of the Series B Notes. In connection with the conversions, the Company issued 246,600 shares of Common Stock (the “Conversion Shares”).  As per the terms of the Series B Notes, the Conversion Shares immediately reduced the principal amount outstanding of the Series B Notes by $334,860 based upon a conversion price between $1.08 and $1.44 per share.  The issuance of the Conversion Shares to the conversion of the Series B Notes described herein is exempt from registration under the Securities Act to the provisions of Section 3(a)(9) thereof as securities exchanged by the issuer with its existing security holders exclusively where no commission or other remuneration is paid or given directly or indirectly for soliciting such exchange.

As of April 21, 2017, a total principal amount of $0.3 million of the Series B Notes has been converted into shares of Common Stock and released to the Company from its restricted cash accounts.  Approximately $2.9 million in Series B Note principal remains available for conversion at the Company’s sole discretion to the terms of the Series B Notes.

As of April 21, 2017, there are 1,816,268 shares of Common Stock issued and outstanding.

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 3 shares trading hands.