guys - there is another 8K out at 8:31 this morning.
my take is that it is very good news. 2 main items:
1)our 2016 Notes were amended such that with respect to any conversion notices to convert any 2016 Note delivered to the Company during the period from January 24, 2017 to February 17, 2017, the conversion price of such 2016 Note may not be lower than 90% of the weighted average price of our common stock on the delivery date of the applicable conversion notice. This looks like a relatively favorable conversion floor to me
2) The Amendment Agreements amend the terms of the 2016 Notes to change the restriction percentage from 55% to the Holder’s pro rata percentage of 45% of the trading volume of our common stock, unless our common stock is then trading above $0.50 (as adjusted for stock splits, stock dividends, recapitalizations and similar events). This further restricts daily conversion sales - it was 135% earlier - until the stock gets above .50
$GBSN
