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Mike is right. We have been living in chaos created by this PANDEMIC. The FDA has changed guidelines several times during the last several weeks, so the terminology could be that they were "approved" or "authorized" by the FDA to do exactly what they were doing under the FDA guidelines, because that is TRUE.
Semantics.
Call the TA. No DILUTION in close to 5 years, and that was completely necessary with a long story behind it, having to do with Taub the crook who was BANNED from the securities business for FRAUD by the SEC in 1999.
No crimes have been committed by Arrayit and there was NO FRAUD whatsoever regarding the COVID-19 test.
If you can find any crimes or fraud, please post the links.
Thank you.
The company made NO false claims. This can be proven quite easily.
What it does is PROVE TO EVERYONE that the company HAD submitted their COVID-19 testing platform to the FDA. A gazillion times it was stated that they had lied about it, they had no test, no submission, etc. and woof woof.
We knew Dr. Schena wouldn't lie about such a thing.
We shall see if those FAKE proclamations were conveyed to the SEC as FACT.
lol. That is NOT what happened. Those emails were sent out to 100's of people who had inquired about whether ARYC had a COVID-19 test.
"Do you have a test for COVID-19?" "Why yes, we do."
Uh oh INSIDER INFORMATION.
Absurd.
You are wrong again on this one. Your argument is absurd.
Who claimed to have insider information? No one.
The commercial manufacturers and laboratories listed below have notified FDA that they have validated and are offering serology tests as set forth in Section IV.D of the FDA's Policy for Diagnostic Tests for Coronavirus Disease-2019. The FDA has not reviewed the validation of tests offered by these developers, who may not be pursuing EUAs, and is including this list here to provide transparency regarding the notifications submitted to FDA.
Laboratory Notifications:
Arrayit Corporation
Beaumont Health
Boston Heart Diagnostics
DLS Research & Ventures
EDP Biotech Corporation
Emory Medical Laboratories
IMMYLabs
Mayo Clinic
Michigan Health Clinics
Otogenetics
Roseland Community Hospital/American Medical Lab
University of Minnesota Advanced Research and Diagnostic Laboratory
Vibrant America Clinical Labs
https://www.fda.gov/medical-devices/emergency-situations-medical-devices/faqs-diagnostic-testing-sars-cov-2
Love it! Thank you so much.
There certainly is recourse if the suspension was based on hearsay and disinformation fed to them, and if the SEC didn't bother to look into it much because of their overzealousness to stop fraudulent companies from selling fake COVID-19 tests.
There ya go. I love you. We knew it.
Of course they claim to have a COVID-19 test because they DO HAVE ONE, perfectly legal under the FDA Guidelines, while not yet given official FDA emergency authorization.
Do you understand now?
Whatever the intention, it DID NOT COME FROM ARRAYIT. Period.
As you well know, that DID NOT come from Arrayit. It was probably an inadvertent assumption made innocently when we heard that Arrayit had a COVID-19 test. Why would the SEC suspend trading over a misunderstanding of an IHub poster? They wouldn't because that would be dumb.
Thanks. Another good option. :)
"We" have it covered? How interesting. Thanks!
If anyone wishes to communicate with the SEC about the suspension, the complaint of which sounds almost verbatim like the countless false and misleading statements made on this board, this would be a good place to start. Feel free to quote the inaccurate statements specifically.
This link was available earlier, but is currently unavailable due to "maintenance," so it should be up and running soon.
https://www.sec.gov/tcr
I think there is general confusion about the words "FDA approved" and "FDA authorized" and "under FDA guidelines," etc. It's nothing nefarious, it's just misinterpretation and/or misunderstanding.
One thing we do know is that Arrayit never, ever said its COVID-19 test was officially given a FDA Emergency Use Authorization. Under the Federal gudelines, however, it's sort of "approved" since the Feds are allowing them to conduct the tests under those very guidelines.
You can't say it's "too late now." The SEC handles these things on a case-by-case basis, and no one can say what will happen during the 10-day period. ARYC is no NBDR.
No one should take my word for anything. I have done my homework and am entitled to express my opinion. I suggest others do the same after they have done their own homework and truly understand the issues here.
That's OK, no problem. What part of "Arrayit has been operating under FDA COVID-19 guidelines" isn't clear to you?
Gold metal for you! The funny thing is that Arrayit is not one of those fraudulent companies.
What? So that brings me back to my original point about the SEC superseding itself. Never mind.
Of course they didn't put any financial statements on Twitter! No one ever said that they did, nor would they!
Good grief.
So now you are backtracking on what you just said. Whatever, Janice.
The photos were often goofy, yes, but the information the company tweeted was NOT.
If you're saying the tweets were meaningless, then I would strongly disagree. They contained huge amounts of real information, and it's a perfectly acceptable way to communicate with shareholders, according to the beloved SEC, and cheaper than other means like 8Ks and PR's.
Posters here were insisting that "no meaningful disclosure" meant financials and only financials, so that was the reason for my question.
Janice, ARYC is operating under FDA guidelines related to COVID-19, which allows them to do exactly what they've been doing. It should be noted that their current allergy test is highly accurate--something like 95-100%.
Arrayit Corporation Aces Fifth Consecutive Proficiency Testing Round with a Top Laboratory Medicine Proficiency Testing Leader
Arrayit Corporation
May 20, 2019
Sunnyvale, May 20, 2019 (GLOBE NEWSWIRE) -- Arrayit Corporation (OTC: ARYC ), a life sciences and personalized medicine company, announces that its clinical laboratory has aced five consecutive rounds of diagnostic immunology proficiency testing (PT) spanning three fiscal years 2017-2019. Proficiency testing requires the precise and accurate measurement of immunoglobulin E (IgE), the cellular biomarkers associated with allergy and asthma and reported in the company’s allergy test reports. A proficiency testing leader ships blinded specimens to Arrayit for testing, and Arrayit tests the specimens and reports the results for scoring to the independent agency. Because the acceptable test range is narrow, acing five consecutive rounds of PT is extremely demanding and requires a high degree of testing accuracy. Outstanding PT scores are valuable commercially because they expedite reimbursement by Medicare, Medicaid and the top commercial payors.
https://apnews.com/Globe%20Newswire/edc326e9cc1ffa0c8ffa812828f1f945
If that's what you want to believe, then go for it. The SEC allegations are wrong and can be PROVEN to be wrong.
Press Release SEC Charges 18 Traders in $31 Million Stock Manipulation Scheme
FOR IMMEDIATE RELEASE
2019-216
Washington D.C., Oct. 16, 2019 —
The Securities and Exchange Commission has filed an emergency action and obtained an asset freeze against 18 traders in a scheme to manipulate more than 3,000 U.S.-listed securities for over $31 million in illicit profits.
The SEC alleges that the traders, who are primarily based in China, manipulated the prices of thousands of thinly traded securities by creating the false appearance of trading interest and activity in those stocks, thereby enabling them to reap illicit profits by artificially boosting or depressing stock prices. For example, according to the SEC's complaint, the traders used multiple accounts to place several small sell orders to drive down a stock’s price before using a different set of accounts to buy larger amounts of the stock at the artificially low prices. After accumulating their position, the traders then flipped the script and placed several small buy orders to push up prices so they could then sell their stock at artificially high prices.
"We allege that defendants engaged in an extensive manipulation scheme and went to great lengths to evade detection, placing trades in over one hundred separate accounts at several different brokerage firms and submitting falsified documents to open new accounts in the names of others," said Joseph G. Sansone, Chief of the SEC's Market Abuse Unit. "Despite their efforts, the SEC staff was able to uncover the connections between these seemingly unrelated accounts and expose the defendants' coordinated pattern of illicit trading."
https://www.sec.gov/news/press-release/2019-216
The company is legitimate. Period.
Ha ha. Obviously, they did not suspend ARYC based on any FACTS!
No. However you want to say it, the reason for the 10-day suspension is to further the investigation or resolve whatever the problem is. Nothing is set in stone and issues are resolved on a case-by-case basis. Das right.
It is quite obvious that the suspension was more due to a HATE campaign than any sort of SEC investigation. If they HAD conducted a true investigation, they wouldn't have suspended ARYC.
The SEC has 10 days to conduct its investigation, and I believe the suspension will be lifted. Nothing to do but wait, unless some of us decide to contact whomever signed the Order to set them straight.
My brain hurts. But the SEC apparently accepted the Form 15 that suspended reporting requirements (or they would have suspended ARYC at that time, no?), plus what about the fact that under the Delinquent Filers Program the company is allowed to file two years of audited financials and that would make the SEC happy.
Triple like.
:)
But Mike, what about this question?
Also, am I the only one who thinks it is very strange that the SEC seems to be superceding itself with its claims of late filings when it should know that ARYC already has a Form 15 in place?
Exactly right. He never, ever said the COVID-19 test was FDA approved, AND you are correct, it was a distributor talking, NOT Arrayit.
Also, am I the only one who thinks it is very strange that the SEC seems to be superceding itself with its claims of late filings when it should know that ARYC already has a Form 15 in place?
But ARYC has been operating under a SEC Form 15, so why would they even bring that up when their reporting requirements were already on hold for the time being? Makes NO sense.
Class actions are stupid and in 12 years you could get a check for 14 cents if you were to win and happen to be on a winning streak. lol.