$Great Basin Scientific, Inc.(GBSN)$ SALT LAKE CITY, Oct. 10, 2016 (GLOBE NEWSWIRE) -- Great Basin Scientific, Inc. (GBSN), a molecular diagnostics company, announced today that its common stock will begin trading on the OTC Market Group’s OTCQB marketplace effective at the open of the market on October 11, 2016. The trading symbol will remain GBSN.
As previously announced, a Nasdaq Hearings Panel had granted the Company an extension of time to demonstrate compliance with the $35 million market value of listed securities requirement for continued listing on The Nasdaq Capital Market, as set forth in Nasdaq Listing Rule 5550(b), through October 10, 2016. The Company was not able to demonstrate compliance by that date. As a result, Nasdaq advised the Company that trading in its common stock would be suspended. In view of this potentiality, the Company had previously filed an application with OTC Markets Group to have the Company’s common stock quoted for trading on the OTCQB marketplace, which was subsequently approved.