Replies to post #12332 on Great Basin Scientific Inc. (fka GBSNQ)

[modrica]

while i agree it should be called scam i dont think anything illegal has been done

i have no idea why sec doesnt outlaw reverse splits and limits dilution in these (actually all) companies , that would be the best way to protect regular people from losing insane amounts of money

so these guys booked 20 millions bucks (what a way of life) in february and nobody cant tell me they didnt know what they were doing with all these black scholes formulas and zhyte

and also now basically they are telling people dilution is coming and will be rampant and yet there are folks buying shares at these levels

unreal

in my opinion

gl

mod

[christjamin]

It is a viscious circle. The more the pps drops, the more shares warrants holders will me. @pps of .11 (pre split) 88% of O/S was needed. That translated to roughly 170 millions (presplit)shares. If we keep the same formula, @ $2 post split (.03 pre split), the number if shares needed for warrant conversion is 168 millions time 3.5(presplit)..Real death spiral