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thank you for posting, this is exactly how i feel.
discouraged, but not quitting. holding long, staying strong.
why retweet $3500 sale to ME client?
BREAKING DOWN 'SEC Form NT 10-Q'
SEC Form NT 10-Q is required to be filed within 45 days following the end of each of a company's first three fiscal quarters. If the 10-Q cannot be filed in a timely manner, the company must file a Form 10-QT with the commission. A very common reason for an NT 10-Q is a merger or acquisition, which prevents results from being incorporated in time for the filing. The SEC provides for "unreasonable effort and expense," with a suitable explanation, as part of the application for relief. Late filings may also be because of uncertainty surrounding litigation, due to a company’s auditor not having yet completed its review of the company’s operations, a sign of a company in financial distress, or because a company emerging from bankruptcy needs more time to complete the required disclosures.
The Market Impact of Form NT 10-Q Filings
Late financial report filings, whether of 10-Qs or other documents, especially 10-Ks, can be red flags to analysts following a company, as well as its regulators, investors and lenders. While the reasons vary, companies who list accounting issues or unexpected changes in accounting or auditor firms (particularly if these involve disagreements over accounting principles or resignations of auditors) as the reason for the delay typically face much more scrutiny of their late filings.
A study conducted by professors Eli Bartov, of New York University’s Stern Business School, and Yaniv Konchitchki, of the University of California at Berkeley, and published in December 2017, looked at financial market reactions to companies with late filings. The authors found several impacts including that “(a) delayed quarterly filings have distinctly different effects on firm value than do delayed annual filings, (b) investors do not accept at face value management assertions about the expected filing date, (c) accounting problems play a unique role in communicating the seriousness of the delay, and (d) delayed announcements tend to be followed by continued poor operating and stock price performance. (SEC Filings, Regulatory Deadlines, and Capital Market Consequences).”
Another site with some interesting info...https://www.auditanalytics.com/blog/non-timely-filings-an-overview/
No selling OR buying...this week has been a volume disappointment...which seems weird considering the SEC filings date is here...would've expected some accumulation, but doesn't seem to be happening. no one selling either.
Q to those posters that expected buying volume, what are your thoughts?
disappointing if not out today, but agree, we just want some indication publicly that this period is ending and when we can anticipate financial news, not continuously wondering driving everyone nutz
Companies have been releasing earnings for a week, at least. Morningstar has a calendar with earnings calls scheduled since Nov 6th.
Hoping for BIG fins PR tomorrow!
for what?!? to get the same reply, "quiet period"?
this is a message board, for discussion, isn't it?
well, we're on two sides discussing it.
it's going on 45 days quiet
going to end fall would be another 30+ days, which makes for an extremely long quiet, not typical
they sought counsel from outside on this process, as was tweeted previously
not hitting these targets would make one want to question advice they are getting, no?
Thanks, but I'll sell when I choose to and I'll voice my displeasure at receiving poor estimates as I would anywhere equally, work, local government, as a shareholder.
By your statement, are you saying Mark is communicating to the SEC and will get relief from suspension or trading halt, without the SEC posting a communication publicly or ARYC will be able to do so and continue business and trading as usual, if they do not meet Q3 filing deadline?
sorry it that's not what you meant, but if so or about so, how would you know this?
However, to your point, Autumn/Fall 2018 ends Dec 21st.
ARYC is killing it in the Far East of Twitter today!
Please, financials, today.
that is total BS and I hope all know it. this isn't the wild west of financial markets...they need to conform to protocol and file, on time.
i don't understand the "they will file when they are ready" attitude
there are deadlines, they need to meet them. finally.
i'm on board, but not willing to accept false commits without consequences
i am confident they are pursuing the path toward compliance, that we will see fins by 14th, tomorrow, by either seeing fins or seeing a late file notice posted to EDGAR.
if not, after that, my confidence in ARYC will be further damaged. fail once, blame it on auditors, fail twice blame it on new auditors, fail three times...blame myself and take my healthy profits and run.
this is purely my opinion
GLTA
it just seems that with Mark making all those statements, that somehow along the audit completion trail, a possible explanation could be he was estimating financials release on a schedule, not all at once, but then something got in the way of that plan and the financials became a bundle to get totally current in one pass, rather than multiple fins over multiple release dates...it's been previously offered as a possible explanation and it makes sense to me.
I live in SF Bay Area. I've been by and stopped to survey the ARYC offices, but haven't been on official visit. Point being, it's a real, legit company, near Apple and I have friends w Illumina who are familiar with ARYC. Let's see the financials...hoping they are on time for Wed.
exactly! just bought my last batch to get to 500k shares! Huge hopes for next week to be financials week!
GLTA
quiet before the storm
Even though Mark stated Taub is not holding fins release up, it's hard to see there being something else getting in the way, no?
unless ARYC has a master plan we just aren't following?
today's PR doesn't seem that significant, am i wrong?
how will the pps and market react?
waiting for fins
i'm good with that.
wanted to be clear poster was too.
no need to discuss Q's if talking about filing in 2019.
mark said Q's.
it's not correct to link what mark said to 2019 filing of K's only.
unless one is attempting manipulation.
if poster has insider info the others on board don't have, it would be great if they could share. opinions are opinions. if you have material info, please share. we know the history of past statements, so spare us that bit.
sorry, i wasn't clear in what i meant. i meant, that if you are referring to mark disguising his message to say he was talking K and not Q, then he would need to include the quarter 4 financial info. 4Q=K. Not 3Q=K.
Plus, I found this relevant article on a quick search:
SEC guidance on “catching up” delinquent filers
Andrew Ledbetter
By Andrew Ledbetter on August 26, 2015
Posted in IPOs and M&A, News and Recent Events
Every so often a public company finds itself unable to file periodic reports for a protracted time. For example, a company may upgrade auditors and the new firm may advise of the need to re-audit prior years, which can take significant time. Until there is a reliable starting point for financial statements, new filings are in limbo. As time marches on, the older missed filings have less and less signficance to investors but would still entail the same amount of effort and expense to complete as any periodic report.
Over the years the SEC Corp Fin staff has developed ways of simplifying how a delinquent company may “catch up” in its filings. With a few calls to Corp Fin and the Office of the Chief Accountant, the staff would generally permit companies just to file the most recent Form 10-K and any subsequent Forms 10-Q. This approach facilitates getting to investors the most relevant, recent information. There remains some theoretical liability, as discussed below, but sometimes that is bearable for a company.
This week, the SEC staff has amended its Financial Reporting Manual to embody this approach. The manual now states that Corp Fin generally will not issue comments asking a delinquent registrant to file separately all of its delinquent filings if the registrant files a comprehensive annual report on Form 10-K that includes all material information that would have been included in those filings.
i suppose if that's your premise, he would've used Q1-Q4, not 1-3.
1-3 would've been incomplete if speaking to 10K.
like cows jumping over the moon
fins coming, Hugie's about to be rich!
sorry, but they should. if you step back, have a look at the last 2 years, you'll see significant progress for ARYC. Enough investors have visited to tell stories, enough Twitter's about sales/FDA oppty's/retail deals, and now, an announcement on SEC accepted news medium...plus i thought ARYC said they would signal release of fins first with a tweet.
well folks, seems like we just got the tweet.
2 cents vs your's.
nah, rock solid, not going down. signs finally signaling with just a little more patience, then BINGO, fins drop...off to the races! cha ching
Those who participate frequently on this board and are long, are mostly confident, just unsure of WHEN, though it feels close, despite Monday PRs.
The rest of the world needs FINS, so it seems, to help US, kick start this stock over pennies. That seems fact. You, me, others pushing will help lift this very little, not where we all expect it to go if current, wo CE.
I'm here every day...watching, listening, waiting...I'm patient, but waiting for fins for multi years gets a little old and concerning when the finish line keeps moving. Not just moving a short bit, but 1/4 of a year; not good advice and wildly inaccurate for being so far down this road.
I'm on board, just hard to follow why these humans are taking so long to do normal course of work activities (and I do get the MCarlo audit angle).
Thanks TSP...good to be reminded.
Of course, we will all be believers if Fall 2018 is met.
I've got big party plans if/when it does.
How? There are just 5-7 employees today. Billions?
Baby steps here, fins?
good to know, thanks for posting the details.
For next step, who will decide if ARYC proposal is acceptable, Taub side or the presiding Judge? Any idea if it goes past 11/19 for additional time?
MarkS had previously stated to others that no legalities were in the way of posting fins.
Which way is up? Jeez, I'm a long confused investor
Do you believe Nov 19 will be end of Taub case w ARYC? What has the court said to make you believe this? Just asking.
Still confused, outside of Taub, why fins not yet ready.
I never questioned who was in control, the acceptable timing is what seems weird. Does it really take that long to complete an audit of inconsequential years, to review these small values in audit report and review 10K, no.
The timing of how it could go on and on, if audits are completed, which is what was posted in Starlight email, right, is confusing. What could extend it thru end of year TravO? I think he mentioned that.
It's the timing that is so baffling. What is holding this up if finish not expected for months?
It surely can't be writing up 10Ks and having them reviewed by SEC. What is ave time for <$10M revenue 10K for SEC review? Just wondering.
Not being negative, just perplexed that it could take that long.
I've felt a couple to a few more weeks would be reasonable estimate; putting quiet at a little more than a month or so.
I see a few who provide valuable DD are saying they don't expect financials soon, within weeks. I dont understand the timing then. From what was emailed, audits are complete and 10Ks are being worked on. As also stated, 2014-2016 should not be substantial, and a lot of content could've/should've been previously considered and ready to slip in, thereby not taking a lot of time to complete these years, to me.
Then 2017 and 10Qs for 2018.
Again, why not release once complete, not a whole basket?
Then, shouldn't 2014-2016 be really close, considering the timing schedule?
I get baffled when we start talking months away...that seems way too long to complete the financial reporting work - so what else is holding things up? We've been told it's not Taub. Just wondering and losing patience, but not selling.
As an investor, I would appreciate some accurate guidance from ARYC management.
i think it could be more of the case, as has been said, of being very very good at one thing (microarray) but not so good at other thing, estimating for example
Great response, they were estimates by someone with little experience auditing. Seems they're trying to comply, increase revenues, move the business forward, settle legal issues, get current.
The PPS have moved greatly since Jan 17 for me, i've added along the way and very happy today. However, I'm prepared to be extremely happy and millionaire at $2; once the fins drop, FDA approvals, retail partnership announced, and all the other revenue potentials mature.
The future seems bright for ARYC SH's
very unusual, can't recall one coming out this late.
maybe they're off celebrating?
Feeling the same as you! GLTA
Let's hope that's true. We've all been waiting on ARYC's last updated expectation, summer 2018. This company is not good at setting expectations I guess
agreed
still would prefer they met expectations they somehow set
long and strong
not sure if technically correct
i just did G search summer 2018
Summer 2018
When is Summer 2018?
Summer 2018 started on Thursday, June 21, 2018 (92 days ago) and ends on Sunday, September 23rd 2018 (in 2 days). 2018 Calendar
http://www.calendarpedia.com/when-is/summer.html
could be all way to Sunday according to this and still be summer 2018
similar to what i've heard
thank you for the advice. we've heard the message from you by now, it's clear.
however, i'm staying put for now
They will make the deadline
Crystal ball says FINS released tomorrow after hours
GLTA
I hope LONG HAUL isn't another 9 years...that's my concern, as DS and others. I'm here long, but hopefully not long in the tooth at the end holding empty bag
Arrayit Corp (OTCMKTS:ARYC) On A Bull Run
article back from July 2017
https://insiderfinancial.com/arrayit-corp-otcmktsaryc-on-a-bull-run
final words from article:
To sum up, ARYC commenced an upward trend in the beginning of 2017 and we wanted to know the reasons behind it. We found out that the revenues of the company are large. Additionally, the new auditor of the firm said that the previous reported financials were correct. Conversely, the OTC Markets Exchange did not appreciate that the company is not releasing its financial statements on time and placed the caveat emptor symbol on the company’s profile. We believe that the company is working on its latest financials and it’s only a matter of time before the company is current on its reporting. It looks like some smart money has been building a position in the market banking on this fact.