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August 11, 2020 at 10:30 a.m.
That decision is not up to you. The Judge will decide after hearing from BOTH sides whether the case should be dismissed or if it should move to a trial.
I vote for case dismissed on the condition that Arrayit get itself current under the Delinquent Filers Program within a reasonable time. Throw it out due to the many false and misleading statements made under oath by the brilliant Postal Inspector, which false statements are REPEATED on this board over and over again as IF they were all true, even when everyone knows otherwise.
Not once in the DOJ complaint is bankruptcy even mentioned.
She said "...in fact, Arrayit was broke and had taken to paying employees
and consultants in stock, and asking shareholders to help it with rent."
Let them prove this. It was confirmed by the TA that no dilution had occurred in several years. And unless the employee is independently wealthy, why would he/she accept shares of stock in lieu of a paycheck? You can't buy milk with shares of stock. That statement sounds more like gossip than fact.
“Expert #1 stated to agents involved in this investigation that claiming that a microarray allergy test could easily be converted to a COVID-19 test is “great hype to get more investor money in . . . To make that claim is for the consumption of investors, not health care.”
What? Great hype to get more investor money in? The company was NOT selling shares and no insiders were either. So there’s another false statement, easy to prove. And how can Expert #1 speak to ARYC’s technology and what it is capable of? Has he studied it or tested it? Pretty sketchy, Ms. Inspector and Mr. Expert.
Good for you, but it was a PR and you are wrong. lol
https://www.globenewswire.com/news-release/2019/03/11/1751012/0/en/Arrayit-Corporation-Increases-Weekly-Guidance-for-Doctor-Prescribed-Allergy-Testing-Clinical-Services.html
On ARYC website: SARS-CoV-2 antibody Testing - Fingerstick Blood Test
Arrayit SARS-CoV-2 antibody tests use a few drops of patient blood from a fingerstick on a blood collection card. Fingerstick testing makes our healthcare services convenient and patient-friendly. Doctors are increasingly prescribing our tests for all Americans especially pediatric and special needs patients.
Proprietary Technology
accurate results
Knowing your quantitative levels of immunoglobulin G (IgG) against 12 SARS-Cov-2 biomarkers, we ensure a high degree of accuracy and is forward looking for any possible mutations. Knowing the total IgG value allows the doctor to determine how well your body is responding to the virus in antibody production.
Arrayit SARS-CoV-2 antibody tests use a few drops of patient blood from a fingerstick on a blood collection card. Fingerstick testing makes our healthcare services convenient and patient-friendly. Doctors are increasingly prescribing our tests for all Americans especially pediatric and special needs patients. doctor to determine how well your body is responding to the virus in antibody production.
http://www.arrayit.com/EReply.html?#reply
Wrong again. It was a PR.
1. No. It was a PR, NOT a tweet. See link.
2. The guidance was for BILLING, not for revenue.
That’s the truth.
https://www.globenewswire.com/news-release/2019/03/11/1751012/0/en/Arrayit-Corporation-Increases-Weekly-Guidance-for-Doctor-Prescribed-Allergy-Testing-Clinical-Services.html
No, it would look severely spectacular in his account and the IRS would be happy too.
Would someone please post a link where the DOJ alleges anywhere that Nielsen and Mark were in cahoots? But wait, that is impossible because IT DOES NOT EXIST. Just more made up poop. lol.
You know how severely bad it would look on Neilson if he sold 40+ million at .20 ?
I know they do not "announce," but an SEC investigation most often involves speaking with company officials or other employees in order to gain access to relevant documents or other records, and they speak to potential witnesses as well, IN ADDITION to sneaking around other corners like brokers or banks. Word of an ongoing SEC investigation could leak out from many sources.
Say what??? I don't think you understand. If he were in cahoots, Mark would have told him to sell when it hit $.20, rather than wait for the predictable sell-off that came as a result of financials not being filed, which caused Jason to sell those many millions of shares at $.04 or $.05.
That's some weird "cahoots" action. No fun at all. lol.
Of course it would be easy to prove IF IT WERE TRUE. That is yet to be determined. It seems to me Jason was as royally ticked off as all the other shareholders when they realized the audited financials were not to be filed by the end of March. If he were in cahoots with Mark, then he would have dumped those shares at $.20 prior to that non-event, not $.04 or $.05 after it.
No, they were not "in trouble with the SEC for years." It doesn't make any sense that the SEC allowed the Form 15 filing to become effective while they were investigating ARYC. They would have said UH OH. What are they up to now??? They would have made some sort of demand or questioned the company or rejected it or done something, but they did nothing UNTIL the false and misleading statements were fed to them regarding ARYC's Covid-19 test.
If he were in cahoots with Jason, then why didn’t Mark tell him to sell those millions of shares at $.20, rather than waiting and selling them at $.04 or $.05 last April after the shockwave of not filing financials hit? If Mark knew there would be no financials, he would have forewarned Jason according to your conspiracy theory that there would be a sell off. He could have made many more MILLIONS of dollars. I don’t know if Mark asked him to help with rent, but even if he did, is that illegal if there was no conspiracy?
Also, your timelines are out of order. It was expected that increased revenues would start coming in in 2019 and 2020, and as mentioned many times, some of us thought their plan was to become current via the SEC’s Delinquent Filers Program with 2 years of audits. ARYC is exactly the kind of company that program was created for. The SEC accepted the Form 15 and ARYC wasn’t in any trouble with them until the Covid-19 debacle.
Most criminals have a record a mile long.
Mark may have his issues, but being a lunatic isn't one of them, and most people can't and won't just throw their morals into the sewer to become a crook.
As a brand new Medicare provider, it would be beyond stupid for him to do anything to jeopardize that relationship. I don't think he did.
No it’s not clear. He is presumed innocent until the DOJ can prove beyond any reasonable doubt that Mark morphed from an all around good citizen into a psycho-criminal who decided to throw his life away. I just don’t see it.
Not true, he said they expect to BILL $2 million per week, and I don't think it was a tweet. He never said how much revenue they expected to generate and he said that in 2019, NOT in 2015, 2016, 2017 (the "prior years").
In late 2018 and all of 2019, the company got the CLIA lab going, Medicare, Medicaid, health insurance companies' approval, and the patient portal up and running, and many other tasks completed, so 2019 would have been a much better year and 2020 even better as these BRAND NEW SOURCES of revenue continued to grow.
EXACTLY. These statements are made to sound like despicable crimes when they are not crimes at all.
It's just weird.
What was the intent?
So there was a problem with Mark providing the auditor with certain information, which is exactly what Mark said last April when the financials were not filed. It was a huge disappointment for investors, but was it a crime? What was it that Mark was unable to provide to the auditors?
Mark said that it was Arrayit's fault and not the auditor's fault that the financials were not completed. That was nice of Mark to take responsibility, but where is the crime?
His statement that they were in a "quiet period" is not a crime, is it? With so much going on in 2019, maybe he needed time to figure out his next steps.
What if Mark has perfectly logical explanations as to why the audited financials were not completed? Those who have been here a while KNOW that the prior years' financials weren't going to be pretty. Could it be that the company decided to go with the SEC's Delinquent Filers Program by first filing the Form 15 and then presenting 2 years of audited financials instead of multiple years?
Was Mark really trying to deliberately mislead shareholders, or was he trying to find a better path for the company and shareholders going forward? I mean, what benefit did he get from any of it? None, just a worsening reputation in shareholders' eyes. Why on earth would anyone want that?
Thank you for sharing, Mr. BT. :)
Not true. Obviously the judge ruled in Mark’s favor by allowing him to return to work at the lab, as requested by Attorney Pickles in his brief.
Thank you for posting an excerpt from an SEC rule, but there are many (many) subpenny and penny stocks that use forward-looking language on every PR and filing, and that contradicts what you are saying.
There has to be more to it than what you have posted, and I don't have time to find whatever exception these companies may fall under. Whether or not any of it is enforceable, I don't know. I would imagine that would be subject to interpretation by a judge or lawyer or securities expert.
Well you SHOULD care about the FACTS. I am just correcting the latest FALSE statement.
You must be kidding. I am looking at a PR right now on a stock trading in the triple 7's with all sorts of forward looking statements.
Not true. Nope. Wrong.
They simply referenced the last 10-K filed. That doesn't nullify anything.
You are the one who claims to "know," not me. lol.
Yes, in this case instead of a grand jury determining probable cause, it will be up to a Judge, and if he decides there is enough evidence for the case to go to trial, Mark would be formally indicted, and that would mean a trial before a judge or jury. If he says it's a bunch of poop, then he could dismiss the whole thing.
There are only 2 counts against Mark.
We shall see.
How will Safe Harbor, forward-looking statements, and/or legal "puffery" be seen in the Judge's eyes?
Here are portions of the 12/31/18 letter. Everyone would love an explanation as to why the financials never showed up at the end of March, 2019. Mark said they were "awaiting further documentation" at the time, so what was that all about? (please, there is no need to chime in with opinions about never intending to file, fraud, hiding, or lying). I am trying to deal with FACTS. Here's a portion of the Shareholders' Letter regarding financials:
"We continue to pursue completion of a multi-year audit to bring ARYC’s public company financial reporting current."
"We expect to bill $1 million per week for our health and wellness tests. The actual contribution of medical reimbursement to our revenues and earnings will be detailed in financial reports, which we anticipate filing in the coming quarter."
Don't jump down my throat, but these were NOT promises. They were forward-looking statements. Just like everyone else, I am STILL waiting for a reasonable explanation from the company that makes sense as to their not filing at the end of March, 2019.
SAFE HARBOR:
"This letter contains forward-looking statements including statements about Arrayit’s customer contracts and relationships, future operations, financial results and opportunities for future growth. Each of the forward-looking statements is subject to change based on various important factors, including without limitation, competitive actions in the marketplace and other unforeseen changes and general uncertainties
in the marketplace, and adverse actions of governmental and other third-party payers. Actual results could differ materially from those suggested by these forwardlooking statements. Arrayit has no obligation to provide any updates to these forward-looking statements even if its expectations change. Further information on potential factors that could affect operating and financial results are included in Arrayit’s Form 10-K for the year ended December 31, 2014, and subsequent Forms
10-Q, included in each case under the heading risk factors, and in Arrayit’s other filings with the SEC."
You simply cannot KNOW that. Wait for the Judge's decision as to whether or not there is "probable cause." If the Judge thinks there is after both sides have had a chance to speak, then let the DOJ prove its case and let Mark render his defense. Until then, he is presumed innocent, like it or not.
First, the judge must decide probable cause. If he decides the DOJ’s case is full of false and questionable allegations, he can throw the case out. Mr. Pickles will have an opportunity to show the judge the many claims that can right now be proven to be wrong, ESPECIALLY their (and the SEC’s) false claims about their Covid 19 test being FDA authorized when it was not. That was one big fat lie gobbled up by the SEC and passed on to the DOJ.
August 11, 2020 10:30 a.m. Preliminary Hearing
The judge is supposed to decide if the case should be dismissed or if there is enough probable cause to bring the case to trial. Mark will be represented by his attorney at the hearing.
The post I was referring to is UNTRUE. As you can see, no backup was provided to show where he got that information. We all know the updated test is “close to100%,” according to Attorney Pickles in his brief filed with the court.
The updated Covid-19 antibody test could be our saving grace, and what was posted was mean-spirited and untrue and unnecessary.
This is made-up poop. If not, please provide a link to where you found these scientific conclusions.
What you said in your post was some serious stuff and I would like to know where it came from. It has nothing to do with Kool Aid. It has to do with FACTS and the truth. Repeat question:
"Please provide a link where the FDA told Arrayit to "recall" or "withdraw" the Covid-19 tests that were already out. I mean, please show us where that came from because I do NOT believe that happened."
Yes, the murder discussion is beyond ridiculous. Will Arson be next?
lol.
At 85.7% sensitivity and 88.1% specificity, Arrayit's first Covid-19 test submitted to the FDA was much more accurate than Abbott's turned out to be, and probably many others. Arrayit's test had been converted to a “Pre-Emergency Use Authorization." The FDA maintains a list of companies that have been told to stop selling their Covid-19 products, some of which had been designated as EUA companies, and Arrayit has never been on that list.
According to Mr. Pickles in his brief, ARYC's updated test is close to 100% in both categories.
The FDA did NOT tell Arrayit to stop testing. Please provide a link where the FDA told Arrayit to "recall" or "withdraw" the Covid-19 tests that were already out. I mean, please show us where that came from because I do NOT believe that happened.