On Thursday, Shares of Great Basin Scientific, Inc. (NASDAQ:GBSN), lost -20.10% to $0.17, hitting its lowest level.
Great Basin Scientific declared that it has authorized administration at its discretion to settle certain cashless exercises of its Series C Warrants using cash rather than shares, as allowed under the terms of the Series C Warrants. The Series C Warrants were issued as part of the Units of the Company that recently separated and de-listed from NASDAQ.
“Great Basin remains on plan with all 2015 and early 2016 product and customer objectives, and given that progress and our growing confidence in timing of the revenue growth it will bring, we are confident our balance sheet has adequate strength for us to use cash for certain settlements of cashless exercises of the Series C Warrants,” said Ryan Ashton, co-founder and Chief Executive Officer. “We believe our recent stock performance represents a technical inefficiency related to unit separation, not the underlying fundamentals of the Company’s performance. As a result, the Company will seek to find an appropriate balance of cash and stock in settling these cashless exercises of the Series C Warrants in a way that is in the best long-term interests of our stockholders and the Company.”
Great Basin Scientific, Inc., a molecular diagnostic testing company, doing business as Great Basin Corporation, develops and commercializes molecular diagnostic systems that are designed to test hospital-attained infections.
Shares of ON Semiconductor Corp. (NASDAQ:ON), inclined 5.23% to $9.86, during its last trading session.
Bio-on and University of Hawaii signed an exclusive global research contract to further develop the technology for the production of the revolutionary bioplastic PHAs: the objective is to use lignocellulosic materials (wood processing waste) and domestic or agricultural waste as the raw material. Bio-on will invest 1.4 million dollars in the Manoa (HI) laboratories for this project.
Bio-on and University of Hawaii will create an industrial process that will enable Bio-on over the coming years to further improvement its technological offer, which has a unique selling point in the sector: the wide variety of waste products from which its high performing PHAs can be made. Wood and domestic or agricultural waste are therefore added to the sugar beet and sugar cane, glycerol (biodiesel waste) and potato processing waste co-products already used. The industrial plants, part of the licenses granted by Bio-on, will have the capability of using all of these materials, with limited adjustments, making them highly flexible.
PHAs, or polyhydroxyalkanoates, are bioplastics that can replace a number of traditional polymers presently made with petrochemical processes using hydrocarbons. The PHAs developed by Bio-on guarantee the same thermo-mechanical properties as oil-based polymers with the advantage of being completely naturally biodegradable.
ON Semiconductor Corporation manufactures and sells semiconductor components for various electronic devices worldwide. It operates in four segments: Application Products Group, Image Sensor Group, Standard Products Group, and System Solutions Group.
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