SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person* Life Science Biosensor Diagnostics Pty Ltd (Last) (First) (Middle) C/O GBS, INC., 708 THIRD AVENUE, 6TH FLOOR, (Street) NEW YORK, NY 10017 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 12/22/2020	3. Issuer Name and Ticker or Trading Symbol GBS Inc. [ GBS ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)	5. If Amendment, Date of Original Filed (Month/Day/Year)
			6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock(1)	5,747,647	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Common Stock Purchase Warrant	(2)	(2)	Common Stock	3,000,000	(2)	D
Series A Warrants	(3)	(3)	Common Stock	117,647	(3)	D
Series B Warrants	(4)	(4)	Common Stock	117,647	(4)	D

Explanation of Responses:

1. Includes 5,630,000 held prior to the IPO and 117,647 acquired at the IPO.

2. Includes a 5-year non-transferrable warrant to purchase 3,000,000 shares of the Company's common stock issuable at the exercise price of $17.00.

3. Includes Series A warrant to purchase 117,647 shares of the Company's common stock at an exercise price equal to $8.50 per share exercisable until the fifth anniversary of the issuance date.

4. Includes Series B warrant to purchase 117,647 shares of the Company's common stock and together with the Series A Warrants at an exercise price equal to $17.00 per share, exercisable until the fifth anniversary of the issuance date and subject to certain adjustment and cashless exercise provisions as described herein.

	/s/ Life Science Biosensor Diagnostics Pty Ltd	12/30/2020
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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