Maybe these dirtbags will finally go out of business ?
If not they ate gonna need to issue some more insane number of new shares.
8K
Inability to timely file
Great Basin Scientific, Inc. (the “Company”) is currently unable to meet its payment obligations to certain of its suppliers and service providers and is currently unable to satisfy its ordinary course working capital requirements. Due to its lack of funds, the Company could not complete the finalization of its financial statements and related disclosures for the quarter ended June 30, 2017, and consequently did not file its Quarterly Report on Form 10-Q within the prescribed time period and will not be able to file the Form 10-Q within 5 calendar days of its prescribed due date. Because of its lack of funds, there can be no assurance that the Company will continue as a going concern. See Item 1A – Risk Factors –“Our inability to raise capital on acceptable terms in the future may cause us to delay, diminish, or curtail certain operational activities, including research and development activities, clinical trials, sales and marketing, and other operations, in order to reduce costs and sustain the business, and such inability would have a material adverse effect on our business and financial condition.”, and “We may not be able to continue to operate as a going concern.” of the Company’s Annual Report on Form 10-K for the year ended December 31, 2016.
Temporary furlough
On August 10, 2017, the Company implemented a furlough of 57 employees. The furlough. encompasses employees throughout the Company including all manufacturing employees as well as Robert Jenison, Chief Technology Officer and Senior Vice President of Research. The furlough was designed as a cost cutting measure due to lack of funds. Because of the Company’s lack of funds, there is no guarantee that it will be able to offer the furloughed employees re-employment.
