GBS Announces 1-for-12 Reverse Stock Split Impact

GBS (GBSG) has released an update.

The Company announced a 1-for-12 reverse stock split of its common stock effective at 5:00 pm on January 26, 2024. The split’s impact on financial metrics is detailed, showing no change in net loss but a significant increase in loss per share both on a yearly and quarterly basis when comparing pre-split and post-split figures for the years ending June 30, 2023, and 2022, and the three months ending September 30, 2023, and 2022. The number of shares outstanding is also drastically reduced after the split.

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