Case Number: 37-2016-00026937-CU-BC-CTL Date Filed: 08/08/2016 Case Title: Iconic Holdings LLC vs. Arrayit Corporation [IMAGED] Case Status: Pending Case Category: Civil - Unlimited Location: Central Case Type: Breach of Contract/Warranty Judicial Officer: John S. Meyer Case Age: 401 days Department: C-61 Future Events Event Date Event Time Location Event Type 10/27/2017 09:00 AM C-61 Civil Court Trial
Participants Name Role Representation Arrayit Corporation Defendant Austin, Gina M Iconic Holdings LLC Plaintiff ATLAS, ALAN L
I don't think the legal question is whether they have been making payments or not. According to the agreement, Iconic supposedly had the right to convert to equity whenever they wanted, not just if the company defaulted on payments (which let's assume isn't the case).
The company didn't allow the conversion. This decision is huge because if it doesn't go in Arrayit's favor, then we are likely all screwed.
Think I have this right - but I'll let me fact checkers correct me :)