There is NO DILUTION .... scratch that.
Is that a NEW GBSN S-1/A filing as of JUNE 15th 2017?
We are offering up to 8,200,000 units that can be comprised of either Class A Units (“Class A Units”) or Class B Units (“Class B Units”), together with 8,200,000 shares of common stock included in the Class A Units, 41,000,000 shares of common stock underlying the Series J Warrants and 8,200,000 shares of common stock underlying the Pre-funded Series K warrants discussed below.
Pay very close attention to PAGE 38 Titled - DILUTION
This is MINOR?
Dilution is the amount by which the purchase price paid by the purchasers for the securities offered in this offering will exceed the as-adjusted net tangible book value (deficit) per share of our common stock after the offering.
The net tangible book deficit of our common stock as of March 31, 2017 was approximately $29.9 million, or approximately $(39.14) per share (based on 763,612 shares outstanding on March 31, 2017)
THIS TIME IT IS DIFFERENT!!!!!!!
And to be very clear: From Investopedia
What is the 'SEC Form S-1'
The Securities and Exchange Commission (SEC) Form S-1 is the initial registration form for new securities required by the SEC for public companies. Any security that meets the criteria must have an S-1 filing before shares can be listed on a national exchange. Form S-1 requires companies to provide information on the planned use of capital proceeds, detail the current business model and competition, and provide a brief prospectus of the planned security itself, offering price methodology and any dilution that will occur to other listed securities.
