In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Great Basin Scientific Inc. (NASDAQ:GBSN) reported that Intracoastal Capital, Llc. has picked up 561,674 of common stock as of 2017-06-29.
The acquisition brings the aggregate amount owned by Intracoastal Capital, Llc. to a total of 561,674 representing a 9.99% stake in the company.
For those not familiar with the company, Great Basin Scientific, Inc. is a molecular diagnostic testing company. The Company is focused on the development and commercialization of its molecular diagnostic platform designed to test for infectious diseases, especially hospital-acquired infections. Its commercially available tests are clostridium difficile (C. diff) and Group B Strep. Its system includes an analyzer and a diagnostic cartridge. Each analyzer contains a module into, which individual test cartridges are placed. Its other diagnostic assays in the late stages of product development include a pre-surgical nasal screen for Staphylococcus aureus (SA), food borne pathogen panel, panel for candida blood infections, test for pertussis and a test for Chlamydia tracomatis (CT)/Neisseria gonorrhea (NG). The Company also has a pipeline of assays in an early stage of development, including respiratory testing and sepsis (blood infection) panels. It markets a platform of molecular testing in small to medium sized hospitals.
A glance at Great Basin Scientific Inc. (NASDAQ:GBSN) key stats reveals a current market capitalization of $48,370.00 based on $17.01 Million shares outstanding and a price at last close of $0.0602 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-10-06, Citadel picked up 19,515 at a purchase price of $0.30. This brings their total holding to 755,701 as of the date of the filing.
On the sell side, the most recent transaction saw Spafford unload 686 shares at a sale price of $0.02. This brings their total holding to 22.