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Atlanta,
Have you noticed today that on Level II there are larger trades going off at the offer price. Just as good as a sign is that a seller was able to get more today than the last few days. Today it feels like someone is "quietly accumulating". I will be surprised if this comes back down to the $1.24-$1.26 range. I'm getting a little excited about this next run up. Wonder how far it will go if there is not a note conversion taking place.
Good luck to all! I second the notion that we should all make money on this! After all, that is why we are here.
Really? Was there another shareholder vote that I'm aware of? Or are you trying to scare some stupid retail holders to sell because it has been trading with such low volume so you can get the price down so that you can buy in?
I started to become bullish when selling waned and all the flippers started posting how this was going to drop to below $1.00. Yes, they wanted it below $1.00 but I doubt they are going to get it. I think if they are going to get in on the next run-up they better start shopping now.
Good luck all!
I'd take that bet. I don't think you are going to see 0.75 in the next week or so. Good luck if you have some skin in the game.
I agree, actually on level 2 it looks like they are trying to scare the price down by putting large blocks on the offer. When I start seeing this, I look for a rebound shortly thereafter. A few shares went off at 1.20 and 1.21 but still not of any significant size. Still feel pretty good about my entry point at $1.25. Maybe I was premature but I don't think by much.
Good luck all!
Today should be interesting. This is all my opinion:
My feeling is that the stock isn't going to go back to $1.00 today because I think that there are fundamental improvements in the story since last week. Sellers have had all week to unload their position and most traders have taken profits and are waiting for an entry point today. All of these reasons make me think that maybe some lucky traders will be able to pick up a few shares near the week low but I wouldn't count on it. If the buyers come back to hold for the weekend, the price will move up very quickly and I wouldn't count on building a significant long position at the current levels. Yes, I do think that the general negativity on the stock is as much as any that I have followed. (DRYS is up there). However, the current situation is that the company as well as the shareholders are aligned in the desire for the stock price to move up. And move up a lot. I'm long again and I am comfortable with my position going into the day. I am even comfortable getting in at $1.25.
Let the game begin!
Good luck everyone!
I agree, there does not appear to be any active or systematic selling on level 2. I'd say this is going to be a holding pattern until something moves it. I think this is a pretty good entry point at these prices. Of course, I bought yesterday at these levels so my opinion should be clear!
Good luck everyone!
It is an interesting series of events that is making this stock play out differently than other RS / cash grab events. Notice that the stock has not even maintained a fair market value for the company because shareholders don't want to risk holding this stock. Maybe Ashton has done this once too many times. I think the reason that they raised the price of the conversion is simply because by keeping the conversion at the original $1.00 they were essentially giving away the company for 1 million dollars (or less). This wouldn't make the note holders very happy either. For better or worse, I think Ashton is beginning to see light at the end of the tunnel and unfortunately for him, it is a train.
I am long for an equivalent of 5.2 million pre-split shares. I state my holding this way because it reflects when I bought into this mess. I'm a mile away from getting my original "investment" money back. It was my first time into the stock and I bought just a day or two before the split was announced. I bought because I know the technology and the intellectual property and figured that the company was worth more than 10M market cap. The current market price of GBSN(D) factors in the decisions made by Ashton and his history of decimating shareholder value. The price/share alone tells a lot about how the market feels about the company.
For now, I am planning to hold for awhile because I think Great Basin can be picked up by a larger company for a fraction of real value. I think another RS is out of the question because I am pretty sure that Ashton and the board members are scratching their head wondering what the heck they are going to do now. They didn't get what they wanted or needed from this last RS dilution scheme.
Let me give them a hint: Throw Ashton out on his @ss and put a new management team into place. That action alone will make this stock soar. If a large company is out there...you can buy this for pennies on the dollar. Do it and your investment will be returned the day the announcement is made that this company is owned by another entity. Any money put in will likely see greater than 10X return in less than 30 days as the market reassesses share price. If you are not exactly following what I am saying let me make this clear; if you have the money to buy a controlling majority of outstanding shares, you can push Asston out the front door, make an announcement of the new owner and watch your initial share investment increase 10X in a few days. The company is essentially free to such an entity. Roche, if you are out there listening....take Great Basin for free and unlock some shareholder value for us, the poor suffering longs!
Well, if my timing was perfect, I wouldn't not have bought 30K worth of stock at 0.0075 before the RS! I am trying to make some of my money back by trading my position. The thing is, I know the technology/products and also know that if the management was thrown out on their @ss, this stock would run!
Good luck everyone!
Well, for better or worse, I bought back in at $1.25. It will be interesting to see how this all plays out.
Good Luck Everyone.
Volume has evaporated.....not much Level 2 action so far. Let's see what the day brings!
Well, I'm out now. Sold on this pop. I'll consider going back in if the price is right.
Be careful peeps. I think the company is finding themselves in a bad place. After having destroyed investors through the R/S dilution cycles, I think they are having trouble finding new bag holders. The fact that the market-cap has been driven so low is evidence of that fact. They will use every trick in the book to bring the stock up but these efforts will be temporary.
We will need to see how this all plays out. It seems like anything over $1.00 can be sold for the 800K conversion. I think for the next week the upside is limited until this sale is complete. Now would be a good time for the company to pump the stock up with something. Show it if you have it!
Good luck all!
I'm long in the stock so I'm not trying to spread misinformation. I think today is the first day that the 800K note can be converted. Can someone else corroborate this?
I'd take you on that bet. If it goes to $1.00 there are 800K shares waiting to be sold. That's a pretty strong headwind for the next week.
I think the problem is that with the 800k note conversion, the upside of the stock is limited for the next week to only $1.00. Above $1.0 they can sell. So I think this is giving the shorts some protection. I think that's why we can't rally at all today.
This is my first time around with GBSN(D). I am down 95% of my initial trade. Right now it feels like it is more likely that if I hold I will lose essentially the whole thing. It isn't that the shorts can't get burned on this. They certainly can. However, so far I have to admit that they have been right. At some point, maybe some company will step in and stop this madness, burn the shorts and throw Ashton into a mob of bilked GBSN shareholders.
Given the direction of the stock the longs are at greater risk. What is so sad is that the stock would be worth much more if the CEO left and costs were cut down to the bone. Then they need a new sales and marketing effort. News like this would burn the shorts so bad they wouldn't be eager to come back.
This is going to get ugly in the late afternoon if traders are going to try get out of their short term trades. With no volume this is going to get bad very fast. I may have lost big in my trade but somehow I find it comforting that Aston is going to have a hard time getting financing this way in the future because I think he has gone one bridge too far. The IR idiot that didn't see this coming should be fired.
Does that line ever work? Its about as good as "Do you want me to call you for breakfast, or nudge you?"
That reminds me of the old Doritos commercial..."Don't worry, we will just make more"....
If you think the price is good now you might want to wait until the end of the day. This isn't the kind of stock that traders want to hold over a long weekend. Still, I am staying long because I have hope that something miraculous can happen. My break even point is at $15/share. Not looking very good at the current price.
For the flippers that bought yesterday near the close, I don't think they really got a price for them to get out. Couldn't even get a small blip up this morning to exit. Tough to watch this happen like a slow train wreck.
Looking very ugly. I don't even want to average down at the moment.
I think you need to explain this statement a bit. The market cap increases if the stock is diluted and the price remains the same. Of course, this almost never happens. When a stock is diluted the share price drops which generally stays 'in sync' with maintaining market cap. Of course the market cap itself can fluctuate due to normal market forces even without a dilution event. Keep in mind that dilution is a stock selling driven event. That tends to drop the share price all on its own.
Good luck all!
I was thinking of the same thing but instead, what I thought just rhymed with "dip"....
Ugh...slow start. Easy stock to hate at times. And I'm one of the more optimistic people on the board!
I am bracing myself for the inevitable drop to $1.00 range given the 800K conversion. This is actually worse than DRYS in terms of screwing the shareholder. If the management was bought out...I think this stock would be worth much Much more.
For myself, I think that the way the conversion goes that we will have a chance to buy tomorrow at $1.00. I am going to be patient and wait for it this time. I don't think this will pop tomorrow the way it did today but I'm just guessing.
Just FYI: I don't know what influence I have at the highest level of the Molecular Dx industry...I may soon find out. But I did let the right person9s) know at Meridian and Roche that they can acquire this company essentially for free. For Roche or Meridian, this would be a great investment even if they decided to bury the technology. If they gained controlling interest in the stock before the float hit 2 million shares, the GBSN would be worth a market cap over 100M. I'd be happy with this outcome!
If I had 5M dollars I would buy everything on the bid and wait until I had a majority of the OS. Then I would take great joy walking into Great Basin and toss Aston out on his corrupt butt!
To calculate the current outstanding shares, assuming that we are being diluted every day, you can roughly calculate that 25% of the shares traded are increasing the float. So, roughly we probably have a real float about 1M shares now. That would put the current market cap at about 1.5 M.
Wow, some serious misinformation about CE mark process for medical devices going on here. Getting a CE mark is not "trivial" in the context of a medical device. Yes, this device is used to make clinical decisions and is indeed a medical device. I can tell you that the CE mark mean that the company can now sell the product in Europe. That is the same thing with a 510(k) product "approval to sell" in the US. I work in this field and I can tell you that the studies to file the 510(k) is the same as performing the studied to be held in a technical file for the CE mark. The difference is that the CE mark is considered to be a self-certification and it means that as a company that you stand behind the product for the labeled "intended use". Yes, this file is subject to audits as well. In my company (we also make a diagnostic medical device), the studies are the same for a 501(k) and CE mark. Specificity, sensitivity, user guardbands, robustness, interfering substances...the list goes on. All of this information must be generated for the 510(k) as well as the CE mark technical file! For us it means that in all likelihood the 510(k) for this product is very likely to be approved by the FDA in the US very soon.
This is material news and to say otherwise is ignorant at best and misleading at worst.
I wonder if Ashton realizes that this strategy of doing the RS/dilution cycle can end up costing him the company? Let me explain.
Essentially, a large company can own Great Basin Scientific for free. Here is how it could work. In a nutshell, as GBSN sells shares after a RS to gain capital, the share price plummets (as it is now) because investors know that the company does not care about the share price, only the money they need for operations. After the price has been driven down, the company is selling ownership for a fraction of the company value. If a large institution bought shares on the ask for the last half of the dilution, they would quickly gain over 50% ownership of the company for something on the neighborhood of 5-8 million dollars (or even much less). My reasoning is that by the time the first round of dilution takes place we will probably have a float less than 10 million shares, depending on hour aggressive GBSN is diluting. Really, it isn't about the number of shares, only the outlay of cash. The thing is, after the this large company accumulates greater than 50% of the outstanding shares they can walk in and halt the dilution and ask for update on share count. If it is confirmed that they have greater than 50% of the OS, they can throw the current management on their @ss and tell them to go f themselves. If this happens, suddenly the share price will skyrocket and the company's "investment" will have an immediate payout of 10X (or much much more) of the money that they put in. Also, they would "own" the money gained from the dilution.
Bottom line is that this company can be picked up by anyone that is willing to put up some cash for awhile. In the end, they will end up with a 10 bagger or more. As yourself this; If Roche owned this company, what would the value assigned to the assets? I guarantee that the market cap would be greater than 100 million. We can't even imagine that now because anyone buying shares is almost sure to lose most of their money. That picture changes when you have pockets deep enough to purchase a majority stake in GBSN.
Really? You give the value of the company a whole 0.10. So you are saying that somebody should be able to trade one mid-priced new luxury vehicle for the entire company...patents, 510K approved products and all? You see, it's bad enough that it is trading for a mid-priced house in the Boston area but you are being silly. Go ahead and wait for that 0.10. Maybe after another RS...but I have my doubts.
No, 300M is laughable only because of the mismanagement issue. At core there is value in GBSN...but investors have come to realize that the investors pay for the poor fundraising technique of RS/dilute and RS again. Who would buy this stock knowing if the company burns away the cash, screw the shareholder by devaluation of currently held shares. And I thought...how bad can it be?
This bad!!!
"Is that like a 1-10 chance?"
"No, more like 1 in a million"
Love the Jim Carey reference!
In fact, as it turns out, I have some pretty high contacts in the DX world. I sent out a note to Roche and Meridian about the market cap for Great Basin Scientific. They would buy the company just to retire the potential competition. Obviously, the the real competition is opportunity cost loss...Roche might consider buying them just so Meridian does not.
Honestly, this is the only way I see that I might come out on top of my trade. Should this happen...I certainly would not want to be short. Every dog can have it's day!
Ever wonder why we have support at this level? It because the market cap gets to be so insanely low that someone thinks it is worth buying. I'm still not happy with what had happened but I think this is the bottom. This was such an egregious RS (2000:1) that I don't think this is going much lower.
When the market cap is this low that tells you something about how hated the stock is. No wonder why? I do think some large player should take a stake in this company and throw out the management. It would have an immediate value that would make sense.