On Thursday, in the course of current trade, Shares of Great Basin Scientific Inc (NASDAQ:GBSN), climbed 18.63%, and is now trading at $0.397.
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.
During an Afternoon trade, Shares of CARBO Ceramics Inc. (NYSE:CRR), raised 3.32%, and is now trading at $24.57.
CARBO Ceramics, stated a GAAP net loss of $17.0 million, or a loss of $0.74 per share, on revenues of $73.3 million for the quarter ended June 30, 2015. This net loss comprises $7.6 million, or $0.33 per share, of after-tax costs primarily associated with slowing and idling production.
CEO Gary Kolstad commented, “We are happy to see our ceramic proppant sales volumes raised 7% sequentially, despite an average North American rig count that declined 40% sequentially. The industry environment remains extremely challenging, but we are making progress in several areas. We continue to create opportunities to assist E&P operators make better wells through the application of our existing and new technologies, thereby increasing estimated ultimate recovery (EUR) and lowering their finding and development costs.
“CARBO expanded the boundaries of proppant technology as we successfully employed KRYPTOSPHERE HD and SCALEGUARD technologies in a challenging deep well environment, the Lower Tertiary formation in the Gulf of Mexico. Both of these technologies, KRYPTOSPHERE and SCALEGUARD, continue to garner interest across a number of the oil and gas plays in the industry.
CARBO Ceramics Inc., an oilfield services technology company, manufactures and sells ceramic proppants, resin-coated ceramic, and resin-coated sand proppants for use in the hydraulic fracturing of natural gas and oil wells in the United States and internationally.
Finally, Momo Inc (ADR) (NASDAQ:MOMO), gained 1.97% Thursday.
Momo Inc., declared that the special committee (the “Special Committee”) of the Company’s board of directors has retained J.P. Morgan Securities (Asia Pacific) Limited as its financial advisor, Shearman & Sterling LLP as its United States legal counsel and Conyers Dill & Pearman as its Cayman Islands legal counsel in connection with its review and evaluation of the formerly declared preliminary non-binding “going private” proposal letter that the Company’s board of directors received on June 23, 2015.
Momo Inc. operates as a mobile-based social networking platform in the People’s Republic of China. The company’s platform comprises its Momo mobile application and various related features, functionalities, tools, and services that are offered to users, customers, and platform partners.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should might occur.
