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Actually Rene signed form 15 on Friday August 16. Then they sent the file to Edgar after hours and it appeared on Edgar on Monday August 19 at 6 am
Nov 14 is when the 10-Q for Q3 2019 is due and it's also 90 days since they filed form 15
Delsurfer, let's hope that at the end of the campaign we get lots of $$$ LOL
Not at all. Delsurfer and I have been "comrades in arms" for the last 10 years on this board.
Here is another thing: When ARYC finally files the fins, they will have to have a section explaining what is going on with the FDA and the diagnostics tests, as well as what happened with their relationship with avant Diagnostics. Arrayit has been very secretive about the tests allegedly to keep the competitors at bay.
The early diagnostic cancer tests "game changer" is why I started investing in ARYC almost 10 years ago. It sure has taken a long time. Not for the faint at heart LOL, Let's hope they can finally get it FDA approved.
In the last couple of years the allergy test took off which I believe is providing the funds needed for the FDA approvals, which they could not raise before from venture capitalists or banks.
IMO the test is the ovarian cancer test, and the product line is the oncology line:
You say: "you can see on their website when a device has been submitted (pre-market notification (510K) & pre-market approval (PMA)), approved, etc:"
You can see when it is approved, but not before. The FDA will not make public any activity on a product submitted to them until it is approved.
The process is confidential and the FDA doesn't talk about it until the product is approved and then after approval the FDA makes it public.
Nothing has been FDA approved yet. The FDA website doesn't show anything approved for Arrayit. FDA updates their database every week showing approvals.
Even private companies have fully functioning websites.
Thanks Delsurfer. I agree that they should have sent a response even if it's automated.
I find it amazing that this time and age any company in business would have only a 10% working website.
Hi Delsurfer, did they respond to the consumer form you submitted?
Speculation is before the end of the year.
One date to watch is Nov 14 when the 10-Q for Q3 2019 is due.
But all this is pure speculation. However, they probably have the SEC breathing down their necks and have to deliver or else.
From Mark's LinkedIn profile:
(The last entry has to do with the market cap when the pps was 0.20 in late March, before the April 1 crash...Mark assisted in the 0.20 high with the promise of fins.... He needs a new entry "assisted in the 4/1 crash with the failure to deliver fins" LOL))
On the positve side, he co-developed the Arrayit tests.
- Promoted to president of Arrayit, 2007
Agreed. Walgreens still will have 200 clinics.
We don't know if Walgreens was the retailer they were working with. CVS, Kroger and others also have over $100B in annual revenues
Mark, Rene and Todd collectively own 1,587,145 Series C preferred shares which are convertible to close to 600 Million common shares. (at the rate of 350 common : 1 preferred)
At some point they will want to convert those shares and sell some.
As of the last SEC filings, they haven't collected a salary from Arrayit for many years, so they would want something back for their effort.
A higher pps is in their benefit.
An example:
Uplift Nutrition, Inc (UPNT)
On April 29, 2019, the Commission’s Division of Corporation
Finance (“Corporation Finance”) sent a
delinquency letter to UPNT requesting compliance with its periodic filing requirements, which was delivered.
On August 28, 2019 the SEC suspended them because they had not complied.
https://www.sec.gov/litigation/suspensions/2019/34-86798-o.pdf
Not all the clinics.
IF they have an agreement with the SEC to get the fins out by XX/XX/XXXX, then Rene has no choice unless she wants the shares suspended/revoked.
The millions in billables are for allergy tests that Arrayit has processed for patients. ARRAYIT then bills Medicare, Medicaid and private insurance companies. Then Medicare, Medicaid and insurance companies pay Arrayit.
The major source of their revenue now comes from the allergy test. They are on track for $100M billing for that test in 2019. 25% to 40% of that will become revenue for 2019.
And there is no FDA approval yet. Still waiting.
Nov 14 is 90 days after they filed form 15 and it's also the day that the 10-Q for Q3 is due. It'd be great if something happened that day.
Hope springs eternal.
Pure speculation.
Thanks kraki. That makes sense.
Let's hope they file 2017-2018 10-Ks and 2019 Q1, Q2 and Q3 10-Qs this year and be finally current.
Q3 10-Q report is due Nov 14.
Still it's no clear to me whether they need to file a form 10 to register shares again like option C requires since they did not de-register the shares to begin with.
I think the route is more in line with your other post. They could have worked out a plan with the SEC to file fins for 2017-19.
kraki, you say:
Good catch kraki. I don't think anyone else had picked up on that time frame on the 8-K.
Only the moderator who made it a sticky can remove it.
Each moderator is allowed one sticky.
The allergy test is getting them to the next level. $100M in billings for 2019 can equate to $30 -$40M in revenue in 2019 from the allergy test alone. Add to that a few millions in pinnertest revenue.
Then the level after that could be the ovarian cancer test another $100M + in revenue in a few years.
You haven't heard of the ovarian cancer test OvaDx that Arrayit developed in partnership with Dr. Michael Tainsky of Wayne State U? It only requires a few drops of blood on a blood card.
Unfortunately in 2009 Arrayit gave the IP to Avant so that Avant would raise funds for the FDA approval process and commercialization. Avant for years was able to raise only a few bucks. and the test was in limbo for years.
In 2015-6 a blind validation of the test was done with the help of DOCRO with the little money that Avant raised.
$2M - $3M are required to get it FDA approved.
Then in 2016 Avant merged with another company and changed course and decided not to spend money and effort on OvaDx.
What happened after that? Rumor has it that Arrayit may have OvaDx back and tried to trademark a new name OvaGuard last year.
Last year also Arrayit submitted something to the FDA and had a meeting with them. My hunch is that it was related to the ovarian cancer test. And Arrayit may be using some of the revenue form the allergy test to do so.
You meant 5/1/20?
They've had that "pipeline" list for close to 10 years on the old website. The only new addition to the list is colon cancer.
IMO the first test out the gate will be the ovarian cancer test. Lack of money to get it FDA approved has been the roadblock for that test.
IMO Arrayit must have worked out a deal with the SEC not to get suspended.
Part of the deal could be to file a form 15 to suspend reporting, tweets, PRs etc and then produce fins for the last couple of years or so within a given time frame.
The SEC has leverage because if Arrayit does not keep its side of the deal the SEC could suspend trading or revoke their registration.
ALL IMO from what we have observed.