Great Basin Scientific Inc. (fka GBSNQ)

[GoodWill]

The Company also announced today that it signed an agreement with holders of the 2016 Notes that amends the conversion terms and eliminates the potential for deferrals. Under the terms of the amendment, any pre-issued conversion shares at the time of the amendment will reduce the principal amount of the Note held by Noteholders at the fixed conversion price of $0.044 per share without deferral provisions. The amendment eliminates the provisions of the 2016 Notes dealing with the Company’s ability to elect to convert installment payments, delivery of pre-installment conversion shares in relation to converted installment payments and the ability of Noteholders to accelerate or defer installment amounts. Future conversions may only be made at the election of the Noteholder at a variable price of the lower of (i) $2.00 per share, (ii) 85% of the lowest trading price of the stock during five consecutive trading days ending and including the trading day on which the Noteholder delivers a conversion notice to the Company or (iii) 85% of the weighted average price of the common stock during a single trading day on the date with which the Noteholder delivers a conversion notice to the Company.