via Investopedia - What Is The Difference Between Issued Share Capital And Subscribed Share Capital?

Investopedia covers the question on how subscribed share capital differs from paid-up capital.  The subscribed portion of the float would be shares purchased through employee options.

http://www.investopedia.com/ask/answers/072815/what-difference-between-issued-share-capital-and-subscribed-share-capital.asp

via Stockwatch.com, however, you notice that the shares are in a 'not-subscribed' condition.  That means that whatever trades might occur are obviously options trades.  If you will remember, the company listed on an exchange in the U.S., only to voluntarily delist from the exchange later.

The company is not trading shares per se, but OPTIONS, from the simple fact that GBRIF trade are in a 'not-subscribed' condition.  And you have to presume that these options are worth many lots of shares or portions of lots of shares. Could be as many as 1000 share lots per option, or perhaps 500 share lots per option, as little as 50 share lots per option, each time there's a trade.  

That would mean the restructuring of the remaining portion of paid-up capital that remains.

http://www.stockwatch.com/Quote/Detail.aspx?symbol=GBRIF&region=U

via VentureLawCorporation - Rule 144.

With the removal of the legend from the share certificates and the voluntary delist from the American exchange, the company is open to reorganize the paid up capital after the trading halt and the delist from a Canadian exchange.

How that might work exactly will reqiure some explanation if I don't have that right.

http://www.venturelawcorp.ca/rule144_remove_legend.html

via Capshare Blog - Why Private Companies Don't Need To Issue Stock Certificates

What caught my eye in this article was the following quote:

"3) Empowers Companies to Act As Their Own Transfer Agent

Shareholders can no longer just sell or transfer their certificates without the company’s knowledge. Because there are no physical certificates, the company’s ledger is the official representation of all shares outstanding, so in order to execute a legal transaction, shareholders are forced to engage the company in a formal process that can be executed and recorded properly.

This makes it easy for companies to act as their own transfer agents. There’s no need to pay fees for someone else to handle this."

So Golden Band has essentially gone private in a number of steps and can act as its own transfer agent, which would explain the trades of options in GBRIF.

https://www.capshare.com/blog/why-private-companies-dont-need-to-issue-stock-certificates/

-F6