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As of today, ARYC is STILL on the FDA's list of "Laboratories that have notified FDA that they have validated and intend to offer serology tests as set forth in Section IV.D" .
AND
Arrayit is NOT on the list that answers the question: What tests should no longer be distributed for COVID 19?
Supposedly the FDA received ARYC's test on 4/15 and then on 4/17 told Arrayit it wasn't good enough? Wow, that's a bit FAST, don't you think in the midst of chaos? It COULD BE that Arrayit is still working on the test with the FDA, as Mark stated last week. ARYC's accuracy is much better than Abbott's and who knows how many others?
https://www.fda.gov/medical-devices/emergency-situations-medical-devices/faqs-testing-sars-cov-2
The points I made in that post are VALID and TRUE. I wasn't talking about anything else.
Innocent until proven guilty. Only time will tell that tale. It's all a bit sketchy to me. And as IF what Jason Nielsen did is anything more than what countless individual investors, or hedge funds, or whomever or whatever do each and every trading day to gain an advantage, whether they want to dump their shares, short shares, or get shares at a cheaper price.
I wonder if the SEC has already seized or placed liens on any of his real estate holdings or bank accounts.
The article so wrong on many levels. They are talking as if microarray technology doesn't even exist or that it's a joke, when it is now and has been USED ALL OVER THE WORLD by big-butt companies, including companies that submitted COVID-19 tests to the FDA! Not only that, who researched and discovered microarrays and invented the equipment in the first place? Dr. Mark Schena.
What a darn shame, and it's sort of maddening that these reporters didn't do any research on the science and neither did the SEC. It's all about getting a "sensational" story out there and who cares if it's accurate or not...just write it and get the dirt out there.
As if things weren't bad enough...
Well, of course you're right, but why hasn't the FDA said so? What makes you think they're not still "working with the FDA," as Mark said just the other day. And riddle me this:
(1) Arrayit is STILL on the list of labs that have submitted and verified their test and are allowed to utilize them. This was updated on 6/12/20. Why?
(2) At the same FDA link you will see this question: "What Tests Should No Longer be Distributed for Covid-19 updated 6/11/2020. There are 41 such companies on that list. Is Arrayit on that list? NO it is not.
(3) Arrayit's Covid-19 test SURPASSES Abbott's test in accuracy by a mile.
These are all FACTS! It's the facts that rule, not speculation.
Innocent until proven guilty.
FDA link:
https://www.fda.gov/medical-devices/emergency-situations-medical-devices/faqs-testing-sars-cov-2#nolonger
lol. Yes it is risky, but even companies that have filed for BK and/or have been quiet for very long periods of time and/or have escaped into the twilight zone, can have amazing runs and reap huge rewards. Only for the brave, of course.
:)
Of course it is, but what are you saying "nope" to?
Yes, I know, that's how I feel too. Could we be in bizarro world?
(cannot send PMs)
:))
lololol. Compared to Abbott’s test, Arrayit’s WINS by a huge margin. Mark said they were “working with the FDA” so maybe they are trying to tweak the test in some way to improve accuracy. Arrayit is STILL on the FDA’s list. Weird, isn’t it?
There are many. For example, Dr. Fauci DID speak about the importance of distinguishing Covid-19 from allergies. Dr. Deborah Birx DID mention in a press conference they were looking into obtaining tests that would have blood specimens taken via finger stick technology and blood cards. It isn’t wrong for Mark to reference those statements that speak in general terms about ARYC’s test and technology.
All the blabbering about what happened in March and April regarding ARYC’s Covid 19 test doesn’t amount to a hill of beans. They never, ever, not once claimed they had FDA approval for their test. Under the FDA’s guidelines, they were allowed to offer their Covid test without EUA.
But wait, there’s more....
Abbott’s test may have missed up to 48% of coronavirus infections according to the FDA. Arrayit’s Covid 19 test FAR surpasses that!
I know, the reporter seemed nasty and confrontational to everyone he interviewed, including Mark, and he just popped into their faces without warning, just like a seagull (or vulture) swooping down to steal your french fries. Happens so fast, catches you off guard.
lol.
But that is only if he is found guilty beyond any reasonable doubt. He has not even been formally charged by a grand jury (or judge) yet. Will that happen? We shall see. Stand by.
Right, so that means they are simply unproven allegations against Mark that will be scrutinized by a grand jury or a judge, so that's good, especially since some of those allegations we KNOW are not even true. From what I have read, there is a possibility that the indictment could be dismissed. That would be cool.
If that doesn't go well, he has a right to have a jury trial under the Seventh Amendment.
It will be interesting to see where this goes.
Yes, thank you! They don't know the difference between a blood panel and a specific blood test. The results will be shown whether or not it was specifically ordered.
I know, that's what I was trying to say. The company is operating. Business as usual. Yes, let's see please see the financials finally! Thanks for doing the drive-by! lol.
It is NOT absolute and utter nonsense that Arrayit Corporation is still an operating business and is NOT part of the lawsuit against Mark. They have charged HIM and not the corporation. He was working when he was interviewed by the reporter a few days ago. Those are FACTS.
I wasn't talking about other lawsuits so please don't waste your time trying to twist things. We KNOW about them. Nothing new.
Obviously the Feds didn’t think so, or they would have included Arrayit in the lawsuit.
What?? Please re-read the post. It seems you didn’t get the point.
Not talking about a class action suit. There should be no lawyer needed to make a claim for the SEC to return all disgorged money to shareholders. They just might decide to do that on their own. It looks like Jason’s house is on the market and the feds could take those proceeds and distribute it to shareholders...he may have bought that house with the millions he made on ARYC...very nice digs our friend has been living in.
One of the most important reasons companies incorporate is to protect personal assets of those who formed the corporation. The fact that they broke through that protection is very unusual and leaves the corporation intact and viable. Anything beyond that FACT is pure speculation.
They “broke the corporate veil” and sued Mark individually. Normally it’s the corporation that is sued, but that’s not what they did here. There is really nothing “hilarious” about it.
Yes, that’s what disgorgement is...making sure they don’t enjoy any of their ill gotten gains. Shareholders might have to fight with the SEC to receive anything from them. I think Jason made millions, so there’s that. Those funds would not be tied to Arrayit or anything, so should be distributed to and among the shareholders who were duped.
1. Arrayit Corporation has not been sued and is still operating
2. Arrayit is still a CLIA lab
3. Arrayit is STILL on the FDA’s list of COVID-19 labs awaiting EUA status as of 6/11/20.
4. OvaDx is a real product and ARYC has all rights to it, among other tests in the pipeline.
5. Rene as CEO has not been charged and is still running the company
6. Mark Schena is still working and told a reporter that they were working with the FDA on their Covid 19 test. If that is to be believed, then their test could still be on the table, needing further work to improve accuracy. They do have a test and are close.
7, Innocent until proven guilty. Some of the statements in the complaint I already recognize as not true.
8. Arrayit’s CLIA status allows them to test specimens from the outside world, which could work out to be a good revenue producer.
Just sayin’. Don’t yell. I still have a hard time believing Mark is a compulsive liar and would deliberately commit fraud knowing that doing so would ruin his and Rene’s lives forever, let alone ruining his legacy as a scientist who made a major breakthrough in the world of microarrays.
Class action lawsuits are a joke. The attorneys get their fees and there are court costs and shareholders end up with a tiny fraction, if anything at all. Read up on claiming funds that the SEC may be holding as as a result of disgorgement of money made illegally.
Doctor #1 was not named. It may or may not be Dr. Taguchi.
FACTS rule, not ASSumptions.
You do NOT know that.
That is NOT true. ARYC had already developed the technology. You can buy an OvaDx test from Arrayit right now. The "RUO" may be new.
Arrayit Corporation provides the market’s first large panel research test for ovarian cancer samples. OvaDx® RUO is a sophisticated microarray-based test that measures the activation of the immune system in blood samples in response to early stage ovarian tumor cell development. Research studies with OvaDx® RUO indicate high sensitivity and specificity for all types and stages of ovarian cancer including stage IA-IV borderline serous, clear cell, endometrioid, mixed epithelial, mucinous, serous, and ovarian adenocarcinoma. Arrayit offers OvaDx® RUO for research purposes only to advance the forefront of ovarian cancer biology. OvaDx® RUO can be used to analyze samples derived from different tumor types and stages, the effectiveness of experimental chemotherapies, biomarker profiles in breast cancer and other epithelial cancers samples, studies of benign gynecological tumors, the effectiveness of ovarian cancer lead compounds, and for comparative research studies of existing tests including CA-125, OVA1®, and transvaginal ultrasound. Platform pricing requires prior purchase of the OvaDx® RUO Ovarian Cancer Research Kit Complete Platform (Cat. ORUOCP).
Many of us believe that Arrayit now has ALL RIGHTS to OvaDx since it was excluded from the asset sale, a good thing.
I am not defending anything or anybody. Just stating the FACTS and nothing more, nothing less.
FACT: Mark Schena told a reporter that he was "working with the FDA" just the other day regarding COVID-19 testing, and Arrayit is still on the FDA's list as of 6/10.
FACT:Q: What laboratories are offering serology tests under the policy outlined in Section IV.D of the Policy for Coronavirus Disease-2019 Tests? (Updated 6/10)
FACT: A: Arrayit Corporation
Maybe it IS true that they ARE still working with the Feds on their COVID-19 test to improve accuracy. I mean, the technology is not fake.
https://www.fda.gov/medical-devices/emergency-situations-medical-devices/faqs-testing-sars-cov-2
Mark Schena told a reporter that he was "working with the FDA" just the other day regarding COVID-19 testing, and Arrayit is still on the FDA's list as of 6/10.
Q: What laboratories are offering serology tests under the policy outlined in Section IV.D of the Policy for Coronavirus Disease-2019 Tests? (Updated 6/10)
A: Arrayit Corporation
Maybe it IS true that they ARE still working with the Feds on their COVID-19 test to improve accuracy. I mean, the technology is not fake.
https://www.fda.gov/medical-devices/emergency-situations-medical-devices/faqs-testing-sars-cov-2
That is true in the real world too. If someone is arrested, it is assumed that he/she is guilty and even if proven to be innocent, they will live under a shadow of guilt, however fake. It's pretty sad.
Well, first, it is his right as an American to defend himself and secondly, those are "allegations," not yet proven.
Not saying all is peachy keen. It is what it is, sadly.
You don’t know that. Innocent until proven guilty. The law of the land.
No matter how flat you make a pancake, it still has two sides. I don’t think the investigators understand what a blood panel is, as opposed to a single blood test. That is an important point. There are other allegations that don’t make that much sense. If this goes to trial, the SEC will have to prove each and every count and that won’t be easy. Do the exaggerations come under the category of “puffery,” which is not illegal? Are “kickbacks” and “bribery” truly what was going on? Or was it incentive pay and commissions that they’re talking about? Notice how they talk about the share price being very low due to dilution, insinuating the company was dumping shares into the market for personal gain, when everyone who has been following the company knows why that dilution had to happen. I have many questions after re-reading everything.
Just sayin’. I know it’s not pretty so please don’t reply with the usual negative comments that are already OBVIOUS.
Interesting that the complaint is against Mark individually and not Arrayit Corporation. They are still operating the business. Mark was at work when he was suddenly interviewed a few days ago. He said they were still working with the FDA.
I don’t think ARYC was always a scam. They have been in business for 26 years. They probably should not have gone public and/or gotten involved with Taub, which was when most of the trouble started. I believe they were primarily trying to get OvaDx approved and commercialized, as well as the food safety test, and things spiraled out of control due to poor decisions and crooked lenders and the high cost of R&D.
Fair Funds and Disgorgement Funds
In civil court actions or in administrative hearings, the defendant (or respondent) can be ordered to pay disgorgement – a measure of the ill-gotten gains from the fraud. Where disgorgement is ordered, the judge or the Commission may also order that any money collected, including fines paid, be placed in a Fair Fund for distribution to investors who were the victims of the violation. Under this process, a plan for the administration and distribution of the funds will be developed. A claims administrator or disbursement agent often oversees the plan.
Commission rules on Fair Funds and Disgorgement Funds are available here.
https://www.sec.gov/litigation/fairfundlist.htm
A list of administrative proceedings where the Commission has required a distribution is available here.
https://www.sec.gov/litigation/fairfundlist.htm
https://www.sec.gov/fast-answers/answersrecoverfundshtm.ht
Dr. Schena appears in this video - I-TEAM uncovers unsettling background behind COVID-19 antibody testing site.
https://abc7news.com/health/i-team-uncovers-unsettling-background-behind-covid-19-antibody-testing-site/6240011/
Yes sirree, tomorrow is the big day. Worcester Store & Clinton Distribution Center Reopening Update.
Rotmans is excited to announce that we will be reopening for business on Wednesday 6/10/20. We have been cleaning and preparing to meet the guidelines to ensure a safe shopping experience when we welcome our customers back. We've got some exciting changes in-store too and we can't wait for you to come and see!
Good luck Rotmans!
Hi there. Not able to PM anymore. I feel the same way and am just hoping that some extraordinary, unbelievable, exciting, mammoth, and earth-shattering updates, filings, and PR's will be coming our way soon. It's time! Good luck to you and everyone! :))