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IMO option C is applicable to companies that de-register the shares with form 15.
Arrayit used form 15 to suspend reporting only, so they wouldn't have to file form 10 to register shares again.
IMO The ovarian cancer test.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=151736756
Have you or anyone else verified with DXSolutions that the CRC test they are selling is from Arrayit? The tweet says "Low volume blood test for colorectal cancer with 94% accuracy" not fingerstick or 4 drops of blood like the allergy test is described.
There is another lab, Beacon Biomedical, in Phoenix Arizona that makes and sells a CRC test with 94% accuracy. BeScreened™-CRC Test that is not fingerstick.
(I believe DXSolutions is based in Phoenix also)
From what I read, so far Sight Diagnostic only has a CBC test (complete blood count) and a malaria tests.
Sonora Quest Laboratories sells an LDT Colorectal Cancer Screening Blood Test BeScreened™-CRC for $170 but it's not a finger stick test, it requires conventional blood sample.
https://www.sonoraquest.com/my-lab-request/colorectal-cancer-screening-blood-test-bescreened-crc/
Non-Clinical Verification and Clinical Validation of BeScreened™-CRC, a Blood-Based In Vitro Diagnostic Multivariate Index Assay for the Detection of Colorectal Cancer in Screening Non-Compliant Patients
https://static1.squarespace.com/static/5b8832f8f2e6b1941b7c53ac/t/5c4f7e11c2241b20c1a0f6d4/1548713490889/BeScreened-CRC+White+Paper_R1_+2019+01+28.pdf
More people could be screened with a blood test because many people currently avoid colonoscopies which is the gold standard.
But if a person tests positive for colon cancer with a blood test, doctors will order a colonoscopy to confirm. No doctor would start treatment based on a blood test alone.
There are cancer tests out there being sold as LDT tests without FDA approval. One example the IvyGene cancer blood test. Whether the FDA at some point will object is a different story.
https://www.ivygenelabs.com/science-publications/how-test-works-used/
It was an image from the DXSolutions twitter feed, I forget who posted it. It may have been StockDetective.
I don't know. But someone posted that DXSolutions was looking for salesmen to sell a fingerstick colon cancer test, that's different from these.
I don't know how they measured the alleged 94% accuracy of the DXSolutions colon cancer test. Below are statistics for Cologuard sold by EXAS which identifies altered DNA and/or blood in stool.
Cologuard "is about 92 percent sensitive for detecting colon cancer and about 69 percent sensitive for detecting advanced colon polyps. It does have about a 13 percent false positive rate (87% specific). If a patient has a positive Cologuard test, it is recommended that they then undergo a colonoscopy to evaluate further."
Colguard is generating about $750M a year for EXAS and the company is valued at $12B
Actually DXSolutions does sell a colorectal cancer test that is supposed to be 94% effective.
Not sure if it's made/processed by Arrayit, but DXSolutions markets Arrayit's allergy test.
Also, Arrayit added "colon cancer" test to their pipeline for the first time ever in the new website. The other tests had been on the old website for a long time.
Arrayit business development team wishes to thank our good friends at DxSolutions for an amazing site visit yesterday to discuss additional expansion of our physician-prescribed allergy testing services and telemedicine bandwidth nationally. Thanks guys! https://t.co/2xeIUUgtHm pic.twitter.com/jPVxijUFlv
— Arrayit Corporation (@arrayit) June 19, 2019
You say "There has been no recent dilution because ARYC is being sued and the judge has forbidden any further dilution."
Which case are you referring to?
You're right about the impact of the CE label, many brokerage firms like Fidelity will not allow people to buy CE stocks, so the faster ARYC can remove the label the better.
Regarding the number of shareholders, in the form 15 they list
Re: FDA
Correction: EXAS has $600M yearly revenue and $12B market cap from selling Cologuard (colon cancer test).
20X revenue.
If they ever have revenues of $600M a year they could have $12B market cap like EXAS.
Yes assets matter. They have to be under $10M to qualify for form 15.
Arrayit changed the strategy for the ovarian cancer test. Initially in 2010-3 they were hoping for it to be approved as a screening test, but the bar to get it approved as such by the FDA is too high and the funds required very large. Considering that Arrayit Diagnostics/Avant could not raise any funds even more daunting.
So the strategy changed to try and get it approved as a monitoring test to compete with the currently used CA-125 test. Alledgely, OvaDx is much more accurate than the CA-125.
From a shareholders conference call in 2014
They were averaging $2M in billings a week when they filed form 15. And that is the company's guidance for 2019.
John Howell brings back bad memories.
Howell was the CEO of Arrayit Diagnostics (the precursor to Avant Diagnostics) until 2012 when he resigned. Howell lived in Oeegon at the time and that is where Arrayit Dx was based. ArrayitDx consisted of just one person, Howell.
Howell's job was to raise the funds needed to get OvaDx FDA approved. Needless to say he did not raise a single cent. But he did dilute the AD stock.
Howell was part of the Texas group of crooks which managed to hijack the IP of OvaDx from Arrayit. MArk/Rene trusted these people to raise the funds for OvaDx. I don't know what they were thinking.
Howell and the Texas group did their best to run a P&D of ARYC stock by falsely exaggerating the commercialization timeline of OvaDx.
One positive fact: There is one test (product line) that Arrayit is working with the FDA on to get approved. .
Mark met with the FDA in July 2018.
IMO it could be the Ovarian cancer test because that is the test that is fully developed and has undergone pre clinical studies.
The new Avant management does not seem interested in this test anymore.
Maybe Arrayit and Avant worked some kind of deal for Arrayit to get it back?
EXAS has 60X revenue market cap.
EXAS sells Cologuard colon cancer test.
If ARYC has 40M in revenue in 2019, using 60 multiple the market cap would be $2.4 billion. Around 2.40 a share
Sloan, Thanks for the update.
I doubt it. The FDA would not allow a cancer test to be sold without FDA approval.
Sloan, Thanks for the update about your visit. Sounds like their business plan is being successfully executed. Let's hope that they can get rid of the CE label soon either by filing with the SEC or otcmarkets.
0.20 is a fair value from what we know already just for the allergy test.
$2 million a week billings ($100 million in 2019).
If they get reimbursed 40% from Medicare, Medicaid and private insurance that would translate to:
$40 million in revenue for 2019.
$40M X 5 industry average multiple = $200M market cap
Approximately 0.20 a share.
WHAT'S THE CATALYST FOR THIS RALLY?
They filed form 15 to suspend reporting
That buys them more time with the SEC.
Form 15 is for smaller companies only, so that by not having to file the reports they can save time and money and concentrate in growing the business instead.
Companies can only file form 15 if:
I have no idea of what their plans are. All the new info we have since they filed form 15 is a 10% completed website.
Don't expect anything in November.
1) they filed to suspend reporting so form 10 is not needed to resume reporting.
2) if they had filed for termination of registration under rule 12(g) it takes 90 days from the filing of form 15 for it to take effect
November 12th Staleness Date is meaningless for this company. They filed form 15 to suspend reporting.
Agree. The 10% completed website is the only ray of light (sign of life) coming from the "dark" company since they filed the Form 15 on 8/15. So it has been welcomed.
Wow. Good find Delsurfer. Is the company not embarrassed if their customers land on theses pages? Hope the "Arrayit IT team" is working overtime on the website now that they son't have to tweet every 2 minutes.
For example in the section
heckuva job Arrayit "IT team" - NASDAQ onwards
Links are not working period - not on Windows, not on mac, not on iphone, not on android.... And Jeffpacmean said he got word links will be activated tomorrow.
ihub says only PK, but otcmarkets has the CE, skull and crossbones, dark defunct, PK no information, labels.
https://www.otcmarkets.com/stock/ARYC/overview