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Hi Sloan, Looking at Judge Davila's calendar I see this entry
https://apps.cand.uscourts.gov/CEO/cfd.aspx?7143
"He incidentally shares his name with a different Jason Nielsen, who works as a UC Santa Cruz physics professor."
https://www.santacruzsentinel.com/2022/06/10/scotts-valley-man-pleads-guilty-to-securities-fraud/
Stock Trader Pleads Guilty to Defrauding Investors in Medical Technology Company
https://www.justice.gov/opa/pr/stock-trader-pleads-guilty-defrauding-investors-medical-technology-company
Re Taub case: June 8, 2022 settlement conference is scheduled.
ORDER: A settlement conference is scheduled in this case on June 8, 2022. The Court will hold a telephonic status conference on June 7, 2022 at 2:30pm EST regarding the status of negotiations. All parties shall appear and should contact the Court at 1-888-363-4749 (access code: 3768660). SO ORDERED. ( Telephone Conference set for 6/7/2022 at 02:30 PM before Judge Andrew L. Carter Jr.) (Signed by Judge Andrew L. Carter, Jr on 6/6/2022) (ate)
Mexican "President López Obrador renewed his attack on the National Autonomous University (UNAM) on Thursday, accusing the prestigious institution of becoming a bastion of right-wing views and asserting that some of its professors supported previous corrupt governments.
Asked at his morning press conference about UNAM’s dealings with United States medical technology company Arrayit Corporation, which is accused of fraud, López Obrador launched into a broadside against his alma mater."
https://mexiconewsdaily.com/news/amlo-renews-attacks-unam/
Jason Nielsen charged with security fraud.
https://www.latimes.com/politics/story/2022-04-20/nearly-two-dozen-people-charged-in-150-million-covid-aid-fraud-scheme
Thanks for the update.
Where is Arrayit going to get that kind of money if the judge rules against Arrayit?
Maybe the plaintiffs could instead take over the company and commercialize the food safety test and the ovarian cancer test.
Have you been able to read the joint documents filed yesterday by Taub et al.
$6.49 Price target. One of the first ARYC pumps in April 2009
https://m.facebook.com/note.php?note_id=106238691368
I doubt it will be Nov 30. Judge Davila is still busy with the Theranos's Elizabeth Holmes case.
Thanks. There are actually 2 Dollinger cases.
One has a hearing on the 26th.
The other in March of next year
https://portal.scscourt.org/search
Re the Taub trial
The ex-landlord Dollinger is suing Arrayit for around half a million dollars. Case management Hearing regarding a trial coming up on Oct 26 in Santa Clara Superior Court.
Among other things:
The same judge, Davila, has Holmes' and Mark's cases.
I read in the newspaper that it's expected that the Holmes (Theranos) trial will last 3 to 4 months.
I think Mark's trial is scheduled to start on Nov 30
Funny thing that on Aug 18 2021 someone bought 9,930,592 shares @ 0.0001
then at the close some one made a 1 cent trade and bought 12,000 shares at 0.000001
that was the last trade since.
Can't figure out what you mean.
Appearance in what way?
The prices before 3/19/2009 are for Integrated Media Holdings a shell company that Arrayit reverse merged into to become public. Then after 3/19/2009 the prices are for the new public Arrayit.
Yahoo shows the historical prices.
https://finance.yahoo.com/quote/ARYC/history?period1=1237334400&period2=1626652800&interval=1d&filter=history&frequency=1d&includeAdjustedClose=true
Since the ARYC stock was greatly diluted after 2015, a better question may be what was the highest market value since 3/19/2009 and the answer to that is $222M on 3/26/2019 when the price closed at 0.1969 with 1,126,502,244 shares outstanding. As many remember that was the time that they were promising fins by 1st quarter of 2019. The market value dropped precipitously when they failed to produce the fins.
Mark was proud enough of that high market value to include it in his Linkedin page
ARYC became public in 2009 via a reverse merger with Integrated Media Holdings. Up until then Arrayit was a private company. There has been only one reverse split, the one in 2009.
In the article they had a "contact" button to contact the authors. I did so and asked them if the sentence below meant Arrayit or other companies
You mean 135% not 235% increase.
If you talk percentages with small numbers, for example when it goes from 0.0001 to 0.0005 it's a 500% increase but the dollar amount is not so dramatic. $10 to $50 ($40 diff)
Or from 0.017 to 0.04 a 135% increase it goes from 1,700 to 4,000. ($2,300 diff)
But in the first quarter of 2019 when it went up 313% from $0.0477 to $0.1969 the jump in dollars was 4,777 to 19,690 ($14,823 diff)
That's why I think that 2019 lies cost the shareholders more dramatic losses than the covid19 lies if they didn't jump out before the crash in 2019
I don't think the price increase or volume in March 2020 due to the alleged covid19 test was as dramatic as the SEC implies
The SEC claims this resulted in dramatic increases in both Arrayit's stock price and trading volume.
34. Mark Schena’s false and misleading statements affected the price and trading volume
of Arrayit’s stock. From January 1, 2019 to March 26, 2019, the closing share price of Arrayit
securities increased 313% from $0.0477 to $ 0.1969, and the daily trading volume increased 674%
from 708,719 to 5,485,236 shares. As the end of the first quarter of 2019 approached and periodic
reports, including audited financial statements, were not filed, the closing share price of Arrayit
securities declined. From March 26, 2019 to April 2, 2019, the closing share price declined 73%
from $0.1969 to $0.0541, and the daily trading volume increased 558% from 5,485,236 to 36,107,809
shares. The surge in Arrayit’s share price and trading volume was stark in comparison to the
security’s price and trading volume prior to the false and misleading statements regarding the
company’s purported preparations to file updated periodic reports and audited financial statements
with the Commission. Overall, the market response to this news of purported preparations of
periodic reports and financial statements was significant.
35. Mark Schena knew, or was reckless in not knowing, that his statements about the
status of Arrayit’s financial statements were false and misleading. He also knew, or was reckless in
not knowing, that he omitted material facts when making statements about the status of Arrayit’s
financial statements, including the fact that Arrayit had failed to provide necessary documents to its
independent auditor:
But didn't the SEC already charge Arrayit and they settled?
I saw that sentence, but it's not clear to me if they are referring to Arrayit or other companies that are involved in similar behavior.
Because then they say "We expect additional cases, alleging misrepresentations relating to COVID-19 testing, as well as those relating to COVID-19 vaccine development, methods of COVID-19 prevention, and so-called cures for COVID-19 symptoms. We further expect the SEC to look at companies that announced losses or impairments due to COVID-19, but in fact such were occurring completely unrelated to COVID-19."
According to JDSupra publication yesterday, "The three (Schena) cases ...provide some insight into how the SEC may handle other instances involving COVID-19-related securities fraud and can be considered "message" cases."
SEC Cases Offer Insight into Its Approach to Alleged COVID-19 Securities Fraud
A remote status conference was held June 28 for United States v. Mark Schena, currently pending in the U.S. District Court for the Northern District of California. In the recently unsealed superseding indictment, the SEC alleges that Mr. Schena, who serves as the president and chief science officer of biotechnology company Arrayit Corporation (Arrayit), made false and misleading statements regarding a COVID-19 antibody test being developed by the company in early 2020. Mr. Schena is charged with health care fraud, securities fraud, offering illegal kickbacks, as well as conspiracy to commit health care fraud and pay illegal kickbacks.
Public statements relating to Arrayit's COVID-19 test also are the subject of at least three civil actions brought by the U.S. Securities and Exchange Commission (SEC). The three actions — one of which is stayed, one is ongoing, and one has settled — offer some insight into how the SEC is approaching alleged misrepresentations concerning the COVID-19 pandemic.
The first of these cases is brought against Mr. Schena. Specifically, the SEC alleges that Mr. Schena represented to investors, among other things: (1) that Arrayit had all of the materials and components necessary to manufacture a COVID-19 test when it had not yet ordered some of the necessary materials; and (2) that Arrayit's COVID-19 test was pending emergency approval by the U.S. Food and Drug Administration (FDA) when it had not yet been submitted for authorization. The SEC claims this resulted in dramatic increases in both Arrayit's stock price and trading volume. On April 23, the SEC's civil action against Mr. Schena was stayed, pending the resolution of the criminal case against Mr. Schena, noted above, which is proceeding before the same judge.
The second case was brought against Jason Nielsen, an individual who bought and sold Arrayit stock in March and April 2020. Throughout this time period, the SEC alleges that Mr. Nielsen made public statements promoting Arrayit stock on Investors Hub, including representations that Arrayit had a viable COVID-19 test and that the test was pending FDA approval. The SEC further alleges that Mr. Nielsen placed, and cancelled, large orders of stock but attributed the purchases to someone else in a practice frequently referred to as "spoofing." When the Arrayit stock price rose, Mr. Nielsen sold his shares for a considerable profit. The SEC's case against Mr. Nielsen is currently pending.
Additionally, in February 2021, while the cases against Mr. Schena and Mr. Nielsen had already been pending for several months, the SEC brought and settled a third case against Arrayit itself, as well as Rene Schena. Mark Schena's wife and one of Arrayit's original founders, who served as its CEO, CFO, and chairman for over a decade. Filed on February 11 of this year, the claims against Arrayit included the COVID-19 testing allegations at the heart of the other SEC litigations, while those involving Ms. Schena primarily concerned Arrayit's financial statements in 2017 and 2018; claims relating to these older financial statements have been brought against Mr. Schena as well. Under the settlements entered the following day, Ms. Schena agreed to a three-year officer and director bar, to pay a $50,000 penalty, and to an injunction against further violations.
The three cases here provide some insight into how the SEC may handle other instances involving COVID-19-related securities fraud and can be considered "message" cases. As seen previously, the SEC has pursued corporations that allegedly made false statements related to the COVID-19 pandemic. Here, where the statements were made to investors, the SEC has indicated a willingness to pursue individuals who make such statements to investors, as well as those who profit from them.
In the meantime, however, the SEC may also proceed with an enforcement action against the company itself, as well as other officers, directors, or employees. We expect additional cases, alleging misrepresentations relating to COVID-19 testing, as well as those relating to COVID-19 vaccine development, methods of COVID-19 prevention, and so-called cures for COVID-19 symptoms. We further expect the SEC to look at companies that announced losses or impairments due to COVID-19, but in fact such were occurring completely unrelated to COVID-19. We will continue to monitor further COVID-19-related SEC enforcement actions to see whether other companies and their officers become the targets of similar actions as well.
Hearing today....
A status hearing is scheduled before Judge Edward Davila for June 28, 2021, 01:30 PM at Videoconference Only for San Jose for defendant(s) Mark Schena. The purpose of this hearing is to determine if there are issues that the Court needs to address and to schedule any necessary future court dates
Thanks for posting this change which I wasn't aware of.
I've owned a few thousand shares of MBCI since 2009 when they were in the cancer testing and cure business. I assumed it was a total loss when the original business disappeared. But now it's been resurrected as a different business by other people, and they seem to have diluted the shares big time. They plan a 1000:1 reverse split.
Mabcure, Inc, dba Big Chief Green Energy
NOTE 1 – NATURE OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES
The Company
Big Chief Green Energy, formerly known as Shika Dam, a Nevada corporation incorporated on May 28, 2015, owned a 12-metre sailing vessel, but in December 2015 it discontinued operations and was engaged in corporate formation services. In connection with the change of control in April 2021, the Company began to operate in the solar panel and battery business.
ARYC has been in the grey/expert market for quite a while already
So based on your research, what's in store for ARYC? TIA
That's strange because Akan Bioscince is into stem cell therapies and has nothing to do with micorarrays.
Akan Bio is a biotechnology and cellular therapy company developing next generation injectable products for the treatment of degenerative diseases and injury. Akan BIo is developing cellular therapies and proprietary manufacturing methods to produce stem cell based therapeutics using state-of-the art tissue engineering and cell-based approaches.
https://akanbio.com/
Pinnertest is a Food Intolerance Test that tests blood samples taken via finger prick. Pinnertest is performed in a CLIA certified lab, via Microarray Scanning Technology, which is considered one of the most advanced and reliable scientific methods to determine food intolerances. Pinnertest, Food Intolerance Test, is an FDA-compliant LDT blood test.
https://pinnertest.com/
The WJS article about the different cases doesn't even mention Mark's case
https://www.google.com/amp/s/www.wsj.com/amp/articles/covid-19-fraud-charges-leveled-across-the-country-11622134896
IMO the press release summarizes various covid-19 fraud charges on May 26th for different fraud schemes. The cases are not related.
https://www.justice.gov/opa/pr/doj-announces-coordinated-law-enforcement-action-combat-health-care-fraud-related-covid-19
Thanks for sharing.
You say same for Paul Haje, but Haje was charged and plead guilty.
What do you mean by Todd is not connected?
Is the lab really defunct?
Pinnertest is still selling the food intolerance test which Arrayit processes.
https://pinnertest.com/
Pinnertest is a Food Intolerance Test that tests blood samples taken via finger prick. Pinnertest is performed in a CLIA certified lab, via Microarray Scanning Technology, which is considered one of the most advanced and reliable scientific methods to determine food intolerances. Pinnertest, Food Intolerance Test, is an FDA-compliant LDT blood test.
I think you nailed it.
One thing that I find interesting is the parallels between Mark's fraud case and Elizabeth Holmes' fraud case. For one, they are being tried by the same judge, U.S. District Judge Edward Davila. Holmes trial begins Aug 31 and Mark's Nov 20.
Also both Mark and Elizabeth tried to make it big in Silicon Valley, and for them the end justified the means.
One difference is that the blood test technology that Elizabeth was selling did not pass muster, whereas the Arrayit allergy IgE test allegedly aced several rounds of proficiency testing.
Another distinction is that Holmes raised billions of dollars from very distinguished people/investors whereas Mark was always hat in hand getting next to nothing, so he and Rene got in bed with very shady characters.
"Theranos Founder Can Lean on Silicon Valley Swagger in Defense"
The lofty ambitions and hyperbole of Silicon Valley startups and their founders is fair game for Elizabeth Holmes to use at her pending criminal trial, a judge ruled.
Exaggeration -- and bluster -- about what technology can do and how it improves lives is endemic in Silicon Valley. To what degree Holmes did that when she extolled Theranos’s blood-testing capabilities was among the first issues her lawyers and prosecutors took up. Icons Steve Jobs and Larry Ellison were invoked in the debate over what role the “culture of Silicon Valley” should play.
Amy Saharia, a lawyer for Holmes, told Davila that a broad order rejecting arguments about the region’s influence is improper. “It’s hard to draw lines at this time without the evidence before us,” she said. U.S. District Judge Edward Davila agreed.
“It’s common in Silicon Valley for promoters to engage in that type of conduct,” Davila said, noting that the jury will be drawn from the region. “There’s going to be some natural discussion of startup companies and how they operate.”
What won’t be permitted is for Holmes to argue that because exaggeration in Silicon Valley is ubiquitous, she was unfairly singled out and targeted in a “selective prosecution.” Such a defense is inappropriate, Davila said. “I’m relieved to hear the defense is not going to proffer that argument.”
“I can’t today say I’m going to preclude that discussion,” Davila said, referring to the swagger and boastfulness common in the high-tech epicenter of the U.S. “I’m not going to give a blanket preclusion,” he said. “It’s something the court will be mindful of as the evidence comes in. That’s what I’ll say now.”
https://www.bloomberg.com/news/articles/2021-05-04/silicon-valley-swagger-will-factor-in-elizabeth-holmes-s-trial
Arrayit signed a Cooperative Research and Development Agreement (CRADA) with the USDA in 2014 and expanded it in 2015
Arrayit and USDA Expanding Patent Protection for Food Safety Testing Worldwide
May 7, 2015
SUNNYVALE, CA / ACCESSWIRE / May 7, 2015 / The ongoing Cooperative Research and Development Agreement (CRADA) between Arrayit Corporation (ARYC) and the United States Department of Agriculture (USDA), "Rapid and Cost Effective Detection Technologies for Noroviruses and other Foodborne Pathogens," entitles Arrayit to an exclusive license to commercialize the technology.
Much of the food consumed in the United States, including 50% of the produce the US consumes during the winter months, is grown outside of the country. Arrayit and the USDA are expanding their food safety testing patent filings worldwide to include key food producing nations including Brazil, Canada, China, the European Union, Mexico and Peru.
Arrayit and the USDA Agricultural Research Service (ARS) have developed a rapid, portable, cost-effective and high-throughput detection system for the surveillance of multiple bacterial and viral foodborne pathogens including Campylobacter, E. coli, hepatitis, Listeria, norovirus and Salmonella. Expanding the USDA's patent protection will allow commercial licensing opportunities for Arrayit in jurisdictions worldwide.
https://news.yahoo.com/arrayit-usda-expanding-patent-protection-182700243.html
Arrayit was ordered to this on 2/12/21 as part of the settlement with the SEC.
Does it mean that they are ordered to file the reports?
II.
IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant is
permanently restrained and enjoined from violating, directly or indirectly, Section 13(a) of the
Exchange Act [15 U.S.C. § 78m(a)] and Rules 13a-1 and 13a-13 promulgated thereunder [17 C.F.R.
§§ 240.13a-1, 240.13a-13] by failing to file annual or quarterly reports with the Commission.