Does not matter!! They've already publicly stated they intend to reverse split and get it authorized. That usually hangs over a stock negatively for trend (look at AEZS since early 2015 when it declared same thing).
and they clearly want to do it because they have more than half of the warrants to convert yet (in order to stay within compliancy for warrants).
All they care about is dilution big time, not common share holders.
This is not a typical case of a stock being under 1.00 on NASDAQ, where people can simply judge it for only being under 1.00 and go by 6 month per time frame warnings. This is about their intent to seek a quick reverse split so they can satisfy warrant conversions.
This stock is exactly same type of situation as what happened in past couple, years with FREE, NEWL, SAPX, AEZS.
It'll reverse split as soon as it gets a chance every couple months, Just the same as these stocks above did in past when they similarly converted massive warrants during a price plummet, they all reverse splitted many times, averaging every 2-4 months. AEZS has yet to hit that part of the phase, but it is a great example of a stock that has been un-trade-able and on a downtrend ever since early 2015 when it announced intent to seek authorization for rev split approval, exactly same as GBSN just did this week.
Perhaps some quick trades, day trades, intra-day trades to be sought at best for quick flips, but overall this is a clear case of garbage, and anyone who accumulates this and holds more than a day or 2 is taking excessive risk, and if anyone loses money on this, it is their fault only for ignoring the obvious problems with this GBSN.
***There are tons of other stocks besides this dilution junk that are great opportunities, so why waste your time on this?
Pure lottery ticket odds at best.
I was interested in this crap for potential swing trade until it announced intention to seek reverse split approval at next share holder meeting. You don't want to trade a stock with that shroud of bad news hanging over it. Less money will be interested in this for contributing to trade-able pops (again, look at AEZS since early 2015!! I also warned people about AEZS for same reason at board there in Spring of 2015.)
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I warned people about this stock in recent past here at GBSN. It hit my first .05-.06 low target quick, then it hit my next posted (here) target of .04, etc.
I've been right. And I'll likely be right about all else I said above.
Listen to my experience!! Otherwise you will 'send money $$$ to die' in GBSN most likely.
