Great Basin Scientific Inc. (fka GBSNQ)

[DaReal]

Not trying to ruin anything here, but have a look at all the open Notes too.

From the DEF 14A:

Our Board has unanimously determined that it is in the best interests of the Company and our stockholders to amend Article IV.A of the Certificate of Incorporation (such amendment as shown in Appendix B) to increase the number of authorized shares of Common Stock by 1,500,000,000 shares from 1,500,000,000, par value $0.0001, to 3,000,000,000 par value $0.0001.
Why did the Board approve the Authorized Share Increase?

Similar to the Reverse Stock Split, we believe that the Authorized Share Increase, if approved, will provide us with the flexibility to settle our obligations under the 2016 Notes and our Series F Preferred Stock through the issuance of shares of our Common Stock. As of January 31, 2017, we had 1,500,000,000 shares of Common Stock authorized for issuance under our Certificate of Incorporation of which 680,338,559 shares of Common Stock were issued and outstanding. At the current conversion price of $0.002 per share, we may be required to issue up to 2.9 billion shares of Common Stock upon conversion of our Series F Preferred Stock. Further, for our 2016 Notes, assuming a conversion price of $0.002 per share, we may be required to issue up to 17.1 billion shares of Common Stock upon conversion of the 2016 Notes.

After the Split they'll need less shares to cover those but still a lot of shares will be converted here. the stock will go back into penny and sub-penny land pretty fast, imo.

Per the 10K:

The multiple stock splits permitted the Company to issue a large number of shares of common stock pursuant to issued and outstanding convertible securities as well as conduct several public offerings to raise additional capital for operations. The conversion of these derivative securities resulted in the substantial dilution of stockholders over the course of the last 12 months. The following table sets forth the number of post-split shares that were issued upon conversion of these derivative securities, the post-split average conversion price, the number of pre-split shares (being the number of share equivalents prior to the three reverse stock splits, calculated by multiplying post-split shares by the cumulative ratio of 840,000 to 1) and the pre-split equivalent conversion prices.

The above is without the 1:2000 R/S, and per the given amount of Notes i don't think it will be the last one either