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Great post UV, of course that is a scam. Mark just wrote all that up to scam people into investing in Arrayit. It doesn't matter what you post we still have people posting that claim that it is a scam. I challenge all those who claim Arrayit is a scam to dispute Dr. Mark Schena's work is a scam. Just cite one item within that publication that is false. Let's stop this scam BS right now.
Thanks UV! As usual you have put in a lot of effort and analysis to keep all of us up to date. A lot of the people don't realize the stature that Rene/Mark/Rene's Father and Todd?? have in the industry. Their hard work is paying off. I am still stunned by the testing they did for Dept of Agric where they had a 99.9 percent accuracy with their equipment. That is sensational and will provide tremendous confidence by the user, Congrats to their team.
So many things to be evaluated--backlog, inventory, receivables will affect future earnings as much as how much profit last year. Yes audits will give you all that information but the inventory could be a mark for future earnings. That is why an on site audit is important.A lot of companies overstate their inventory and that really changes the bottom line net worth. The tricky part is evaluating intellectual property worth That is huge with Arrayit
You are totally incorrect. The client must make all information available in a timely manner which ARYC has done. They have posted faithfully when this was requested and mentioned how they responded. How can a client control accounts assigned to an auditing company thousands of miles away. They don't tell the accounting company how to do their job. There is an agreement issued by the auditing company stating what they are obligated to do, as well as the obligation of the company. Both attest that the information they supply is accurate and in accordance with acceptable accounting practices.The full responsibility to complete and issue the final statement and file with the SEC is RRBB's function. They manage the staff to get the job done. Those employees are on RRBB's payroll and Arrayit does not file it-RRBB does it on Arrayit's behalf.
END OF STORY Facts not B.S. as you so politely stated when you seem to have never been in business and involved in having to file yearly statements for 30 years. Not an accountant but I was heavily involved in making our company statements accurate so I wasn't being fined for false statements.
Sorry for the double post-so anxious to make my point. Not only is ARYC suffering from this delay but all of us are taking a hit financially by this delay. Had these been released in timely manner we would have realized tremendous financial gains.The stock by conservative calculations could have been at 50 cents to $1.00 for several months. Those with portfolios of 1M to 5M shares have lost interest in the amount of thousands of dollars due to this delinquent performance by RRBB. Any attorneys willing to take a class action suit?
Again I feel compelled to defend ARYC in regards to the release of the financials.My previous post clearly spelled out the legal responsibility is totally in the hands of the Auditors. Any pressure by ARYC to expedite the release could result in punitive fines by the SEC. As I recall one of our posters played golf with Dan, the partner in the firm, and he said they would be released shortly. That was weeks ago. ARYC has been very reliable in reporting when they have submitted data in response to the Auditor's request for additional information needed for the audit. To me that was an open message from ARYC management that- Yes, we can not pressure RRBB to get the financials completed, but we have done everything required by us to provide the data they requested. THIS DELAY IS TOTALLY THE RESPONSIBILITY OF RRBB. My guess is they have not assigned proper personal to get the job done and ARYC is not getting the attention to get the job. Low on the priority list.
Again I feel compelled to defend ARYC in regards to the release of the financials.My previous post clearly spelled out the legal responsibility is totally in the hands of the Auditors. Any pressure by ARYC to expedite the release could result in punitive fines by the SEC. As I recall one of our posters played golf with Dan, the partner in the firm, and he said they would be released shortly. That was weeks ago. ARYC has been very reliable in reporting when they have submitted data in response to the Auditor's request for additional information needed for the audit. To me that was an open message from ARYC management that- Yes, we can not pressure RRBB to get the financials completed, but we have done everything required by us to provide the data they requested. THIS DELAY IS TOTALLY THE RESPONSIBILITY OF RRBB. My guess is they have not assigned proper personal to get the job done and ARYC is not getting the attention to get the job completed. Low on the priority list.
Let's clear up all this speculation in regards to the financial's and Arrayit's technical and sales performance.
1. Arrayit has complied with every request by the auditing firm in a professional and timely manner. They want the financials to be published as soon as possible. Why not? It will show they had a two tremendous years (2016 and 2017) from a sales and profit viewpoint. A little math using the legally binding tweets will certify this is a fact.
2. All the technical publications and real life test results are reporting all kinds of tremendously accurate numbers. Compare this to their billion $ competitor Theranos who was fudging their numbers on a simple one drop blood test. Users all over the world are using Arrayit blood cards and equipment to perform the similiar tests being fudged by Theranos. Theranos founder is being charged with fraud, fined $700M and headed to jail--could be out of business.
3.Release of financials is strictly the responsibility of RRBB Auditors and we as stockholders rightfully deserve an explanation as to why the delay from them. Arrayit engaged them in December 2016 and it appears a year and 3 months is more than ample time to perform an audit for a business of this size.
My observation in regards to the posting of the financials, that it is totally in the hands of the Auditors. They have been slow and deliberate and I am sure the schedule is at the convenience of RRBB.
I am positive management would prefer that the financials had been published long ago. They engaged RRBB around December 2016. I know there were some RRBB personnel problems and priorities for RRBB work load with existing customers.Looking back it is over 15-16 months and it doesn't stand well for RRBB's reputation for future clients. As far as the timing for release it is all RRBB-no one else. only they can sign off on the statements as they did all the work and certifying that it is correct.Even our inept Congress is faster than RRBB. Just venting my feelings and frustration that we are all feeling. When they do release it, it will probably be on a Friday after the Market closes.
A purchase order is a legal document indicating an intent to buy. Different terms and conditions are defined in the each company's PO usually described on the bottom or rear of the order. The receiving company may accept those terms or take issue with them. Since Arrayit makes highly specialized equipment they might require a down payment or full payment prior to shipment. The order is considered back log but once shipped it is a sale. 99% percent of industry operates this way. Exception to this, is when you have a large order say $20 million that might take 2 years to complete.Rather than wait two years to ship they can bill for partial work completed and put this in the sale ledger. On Arrayit's situation they may have a large order for Blood Cards and as they are shipped on a monthly basis they will be booked as sales each month. Who cares as long as they keep getting orders. RRBB will keep them in a legal status in declaring sales.
You have entirely missed the purpose of tweets and company management philosophy. I am impressed if someone in a high level position is either generating the tweets or monitoring them. This is the company's public face and most be accurate in fact and important enough to report. In addition it must be proper in grammar and spelling.Although President of my company with over 100 employees, I had to approve every fax and external letter sent to outside contacts. Why? Because I had a great and bright engineering staff but everyone including myself makes mistakes. Arrayit does not have a large work force and each one is trained in their jobs.Why take someone from their activity when management can do the job in probably 30 minutes a day.I will guarantee Mark,Rene,etc are putting in easily 60 hour weeks and since tweeting is so important today they are needed to do this task. If the President of the USA can do it why can't Arrayit management do it? I trust this management let them do their job which is making us all richer in a few weeks.
Thank you for your recognizing the truth involved in the delay. I should be thanking you for your persist DD from day to day. Your summary posts have been very enlightening and your weekly drive by checking the parking lot is as valuable as any written document. The employees are a tremendous asset and as I recall also stockholders looking forward to being well rewarded for their efforts.
My own feeling, and has been for some time, that several companies are seriously looking to acquire or heavily investment in ARYC. When their concerns are dismissed by the financial performance over the last two years I think we will see a bidding contest that will send the PP soaring above our expectations. Add in the institutional funds and we could really be in clover. Even if it goes to $1.00 we know they will still grow to $2.00 that is a hell of a return for any fund. Funds do good getting 10-15%. I see ARYC hitting 5-6 dollars with their unique technology. Let's hope I am right.
Most of the posters complaining about the financials including myself are uneducated on the legal aspects of a certified filing of a companies financials. The statement is along these lines of " We certify these documents accurate as determined by our audit and we were not influenced by any outside entity including the company being audited. The company is not permitted to exert any influence on the filing or timing of the filing. Is it up to the audit company to complete the job accurately as signified by their signature. Only the auditing company can sign off on that statement. They dictate when the task is completed--not Arrayit. As far as I can determine it is completely in the hands of RRBB since Arrayit has supplied all the info required in a timely fashion--get off management's back. If Arrayit has performed as well as reported by Twitter why would they want they this delayed? Again why report on Twitter false hoods that could result in massive law suits from groups such as everyone on this board whose investments are being influenced by these Tweets. We could band together and bring a class action law suit and own the company.
IMO Arrayit is behaving in a prudent manner to optimize the situation that will soon see the PPS rise to make us all rich as well as them selves. Go Arrayit!
What a great holiday gift to the Cruise Liner Industry. This last out break was devastating in what the passengers and crew had to experience. Read the article. Imagine all the other outbreaks from food that can be detected.
Arrayit-USDA food safety test readily detects the contaminated food and water pathogen norovirus implicated in a recent cruise ship incident that impacted 200 passengers. Arrayit recommends simple and affordable testing prior to all departures https://www.local10.com/news/local/fort-lauderdale/royal-caribbean-cruise-ship-returns-to-florida-after-more-than-200-fall-ill …
Yes but this is not an exact science but look at this statement
The Scientist also credited Schena with creating the first array.[15] Schena was proclaimed the "Father of Microarrays" in an article written by Lloyd Dunlap, contributing editor of Drug Discovery News, in an account of Schena's pioneering work to decipher Parkinson's disease.[16]
Mark has designed and developed so many devices and some that did not perform as well as possible were withdrawn from the market and redesigned. Look at the automobile industry after building millions of autos they still have recall.
The equipment provided to Dept Of Agriculture had 99.9% accuracy during their acceptance test. That is incredible and a very rare achievement for test equipment. This performance I am sure was a major factor in their consideration for the large contract from DOA,
Highyield just referenced an article published in Wikipedia a trusted web site for information in regards to all categories of subject matter.This article discusses developments in the field of microarray technology. What a shocking notation in the footnotes.Item 3. Listed is the so called "scam" artist Schena,M as a contributor to one of the most complicated technologies in the medical field.
This is just one of many technical articles that have been published by Mark that acknowledge his contributions to this highly sophisticated technology.
We can never completely silence those who claim ARYC is a scam but it should serve to allay the concerns of those investors who are questioning the predictions of future success of the company.
ALY you are right on target when you say it is in the hands of RRBB. ARYC is very anxious to show stockholders the tremendous advancement their company has made from both a technical aspect as well as financial viewpoint. The technical effort is showcased by their numerous tweets that keep us up to date and are certified by regulations in regard to tweet legal requirements.
When it comes to financials it is in the hands of RRBB. The financials to be issued must be accurate and free of any manipulation by either party. RRBB provides legal certification that they are accurate and that they arrived at their numbers based on date supplied by the customer and verified by RRBB. There are severe penalties for any violations. It is illegal for Arrayit to exert any pressure to either manipulate the numbers or to put pressure on RRBB to publish the financials without due process. NO PRESSURE TO SPEED UP THE PROCESS. No reputable accounting firm will publish financials that are subject to such allegations. In conclusion this entire time frame is dictated by RRBB unless ARYC delayed in responding with requests from RRBB to supply data. From releases of ARYC tweeta it appears they have quickly responded to such requests.
I agree BZ777 and I had previously posted Illumina as a candidate more from a technical fit with Arrayit's protein fit, than the financial benefits. Yes they have the cash but a lot of acquisitions are configured on stock exchange which conserves their cash flow. If you look at Illumina's profile this would be a very good move for both companies. J&J is a tough negotiator and they could be lost in that load of products they feature. I an sure Arrayit is being courted by several companies and Mark and Rene have their choice of several opportunities. I am confident they will choose the one that has the best growth for their products and not the near term financial reward. No matter what it is a great position for them and us as stockholders.
Good post UV and as usual you have facts to back up it up. It is a big plus for all of us ARYC supporters to have you driving by the plant and reporting incidents such as " parking lot filled on a Sunday and employee's working overtime. THANK YOU!
I would also like to mention new accounting regulations that require additional tasks to be done by auditors that I believe may be the reason for the additional time to complete the financials. A close friend who has both a CPA background and a law degree pointed this out to me. Only speculation on my part. No matter what ARYC management wants the financials published more than anyone who has posted on this hub so they can move up to the next step to grow their company.
I do believe that Arrayit management is considering several options in regard to their future and their stockholders. First of all we acknowledge their intelligence level is very high based on the results in developing this tremendous technology that makes them one of the most advanced in their field.Business is increasing every day and no doubt they can continue to grow the company.To do this requires resources in a different manner than the development of additional technology in their field.
Question-Do we continue to expand our technology base or expand our sales with the existing line that has tremendous demand from users?
My humble opinion is they do both. Lets combine with a partner that has an on going sales organization and management capabilities and we concentrate on developing new technology that provides an even bigger market. We continue with our first love, while we join with a trusted partner to increase our growth at greater pace than we could accomplish.
Bottom line. When we join with this partner we have to make sure our house is in order--not perfect but minor items that can be corrected and not hinder future grow. Make sure the financial situation is accurate and in detail. This is most important aspect of a marriage of two companies and I think that is one of the reasons for the delay. They have taken the prudent path and we will enjoy the fruits of managements decision. LOL to all the faithful shareholders,
Agreed If he had lived up to his original contract, the PPS might already be at $1-2,
I can't believe the discussions going on involving the postings on Twitter by us stockholders who are outside observers determining what is a sale or not a sale. Then from this data do accounting to announce the daily sales amount. The intent of twitter is to give everyone an update on the trend of the company. Yes it has to be accurate but nothing says all information has to be posted. There are contracts, especially US Government, that restrict public disclosure with approval by that agency who issued the contract. Public corporations may have even more stringent NDA's so as not to tip off competitors on what they are developing.
You can add these sales all day long but treat them as estimates and you are better off and stop nit picking the amount.
The other variable is -what is a sale? Until shipped it is general listed as backlog, once shipped and invoiced it can be listed as a sale. On the other hand on large contracts advanced payments or progress payments may under proper accounting be credited as a sale
You can believe, Arrayit accounting is swamped trying to report in
an accurate way so that this information is valid Yet to believe us outsiders who have no access to detailed information is ridiculous. Let the financials show us the way. I like the tweets as they show the general trend and give me a feeling the sales department is doing their job. Have faith- Arrayit is moving in the right direction-anything not being done for the good of the company is hurting the principals more than us.
Yes! They are doing a deep investigation of all previous statements to insure there are no loose entries and all are explainable.. Why? I have no doubt that they have interested suitors that have been mentioned before and you can't have any hidden accounting entries that will compromise the acquisition. These are blue chip companies that see the future value of Arrayit in the billion dollar sales range. These are giants in the field and will not waste time looking at companies whose growth is only 100M to 500M. It doesn't affect their bottom line or satisfy their stockholders. They have staffs that do detailed investigations of potential acquisitions.
Bottom line they will look at every single financial sheet and make sure it is accurate. You can display your losses and write offs that is expected. It shows that you have made mistakes but you have learned by them,corrected them and moved forward. I do believe Arrayit has followed this path and is ready to reap the rewards.
Forget about the past-all their mistakes are visible but they have made corrections and no where to go but up.
It has been mentioned before but it appears the demand for ARYC will rapidly increase which it turn will drive up PPS. Several including myself have suggested you lock up your shares so that they are not available to the MM. Not an expert on this but the general practice is as follows. Although you are owner of the ARYC shares, they have not been delivered to you. Thus when a buy bid is placed it can be satisfied by borrowing from your portfolio and be replaced later. Putting in a sell price limit of say $5.00 for GTC (Good till canceled) will lock in those shares and they can't be used for the fore mentioned practice.If this is done by all of us in it for the long run then it makes it difficult for the MM to do their thing of buying and selling to themselves to have the price fluctuate as it has been doing. Check it out.
No matter what,it is hard to downgrade this amazing technology as there are to many high level prestigious organizations that are using the equipment in their research and medical procedures with great success. Go ARYC
UVS Good post -it is factual and to the point. My take it is even a better situation than many have envisioned. Why run two acceptable techniques(Monte Carlo & Black Sholes)to justify past actions in regards to disposition of stock. This costs money and for internal personal justification not required-one technique is satisfactory. On the other hand if there are outside suitors involved it is worth the cost to remove any doubt on past actions that be might be of concern.
Also consider acquisition by strictly exchange of stock. This requires no cash from the acquiring entity that suddenly becomes a player in this highly technical field that will shed light on diseases that have plagued mankind for years. Example--detecting changes in cell structure that will open the door for a cure to Parkinson's disease. And some have labeled this a scam? Let me see anyone out there that can run a scam on cell detection when every medical research entity will be examining your work to find a flaw in it. Especially when you are dealing with someone's life.
Once and for all scratch off the scam label and focus on the financial condition of the company. Back to the investor's cry "Let's see the financials" All of the above is just my humble opinion.
I am well aware of the market hours but it is a general category referred to as AHT See the followinghttp://www.investopedia.com/ask/answers/04/061004.asp
Again we have an after close sale of significant size. This is proof that MM know that ARYC will soar and they are building up there portfolio with the stock. If everyone who is in it for the long haul (which may turn out to be short haul) locks up their shares you can prevent this. Just put in a sell order at $5-6 Limit with period until cancelled. This locks up your shares and prevents brokerage firm from borrowing your shares to satisfy some of these MM transactions. Remember there is no negative news on ARYC--we know the financials will be released. They are being examined very closely to insure the data is correct and any write offs, stock compensation etc are reasonable and within prudent accounting practices. This sets the stage for any offer investment or acquisition to be safe from any potential default due to questionable accounting flaws. This practice leads to a better deal for both parties involved. As the Philadelphia Seventy-sixers say " Trust the Process,
The MM have been buying small lots at less than $10 at low prices from them selves then loading up with millions of shares at that low price. Believe me they know an opportunity to make bucks. This delay in financials is a gold mine for them. There hasn't been any negative announcements for Arrayit-yes the delay for the financials but it will happen and soon LOL
You should wire funds They acknowledge receipt in a few hours and you buy immediately. Banks just make money when you transfer by ACH-it's a racket although they charge wire fee. No matter what consumer get's screwed but you save by buying stock at lower price today.
They are probably the full time employees who are on the payroll. They hire temps or use sub-contracts to local firms that specialize in assembly of electronic equipment. Saves a ton of money by not paying health insurance, vacation time, sick leave etc.
Check out MM's at work 190 shares purchased and we have over 5% increase in PPS, Isn't that less than $2.00? I can't believe they even processed the order.
That is an easy topic if you think about it. What is the best deal ARYC can get in an acquisition offer. I think they will have many suitors with Mark and Rene left to do what they enjoy the most-develop more high tech diagnostic equipment.
With this dynamic situation with ARYC I recommend that you purchase shares using wire transfer. DCH could take up to several days and you could miss out on sudden upward spurt by the time the DCH clears. Wire transfers generally take an hour or so.Banks play games by keeping your funds in their control for a day or so to use the float.Often in my business dealings I have withdrawn cash from my account and deposited that cash to another friends business account for immediate use. Optimize your profit by using wire transfer. You will not regret it.
Thank you for your excellent and refreshing post. It is right on and very factually correct. I have recommended this stock to family, friends and to many others including the support people at the two stock companies I deal with when I had technical questions regarding my accounts.
I would guess my contact group has purchased more than 30 Million shares. I keep all of them informed by passing on information posted on this board. You used my exact words in regard to recent PPS dropping that I wrote to my group " Don't worry nothing negative has happened to ARYC to cause it to drop and the MM's are at work."
Along those lines I had already sent a post to my group to lock up their stock to prevent MM.s having access to our portfolios.
It wasn't to long ago I had forwarded your post on how the MM's work. Again a great post on that subject. Thanks for sharing those thoughts with us.
Not everyone knows that and can damage ARYC reputation. They are very honorable persons running the company who both have PHD's (Does not guarantee their honesty) but were associated with Stanford University for years. It does harm to their reputation and not fair.
Take issue with their management skills but personal insults whether in jest or not,is unfair.
If you suspect a scam you should take legal action and your settlement might be more than you make in investing in ARYC. Here is a typical legal statement regarding tweets>
You can be sued for defamation if you tweet a derogatory statement of verifiable fact injurious to someone else. Just because you say it’s your opinion doesn’t end the inquiry. Courts look to whether a reasonable reader would understand the statement as asserting a statement of verifiable fact, i.e. a statement that is capable of being proven true or false. Very generally, publication + derogatory false fact about the plaintiff + harm (actual or per se) = defamation. Avoid derogatory comments. Period. Even as a joke. And don’t retweet someone else’s, either.
Based on the above Management as individuals can be held laible as well as the company. Do you honestly believe ARYC is not aware of this liability.
I would suspect you would be libel for stating this is a scam if you don't have the proof for supporting your statement. My opinion would favor the company that has been in business for 25 years despite their lack of profitable performance but extremely high success with their technology.
That's great you did your own DD. If you feel that it is not worthy of investment then move on to other opportunities that is your choice. It is my opinion this is once in a life time chance and there will be a few more bumps in the road but all things point to success. I had my own company and though not a public corporation went thru similar ups and downs. You just left more stock for me to purchase. I will be putting a buy order in today.
I guess you never heard of Public Relations. You are nit picking because the financials aren't out and you feel it is waste of his time. They might be the persons he is talking to invest in ARYC future to develop more amazing technology.
There could be many reasons the company is silent. Since all tweets are treated as legal statements the company has to be cautious on what they say in these tweets. They also could be engaged in conversations or even agreements with interested parties for acquisition, investment, or contract awards. Any statements could be construed as misleading and the lawyers will have a field day. You are talking about two owners with PHD's with 25 years of experience in the open market place not in the college academic atmosphere and in the industrial field of hard knocks where your mistakes hit your pocket book. Just stick with them and the odds of them being successful are extremely good. I am betting on them and just watching my investment grow.
UVS as usual you clearly state the facts. At this point with so much activity and the issuing of financials I am sure the company is concerned about inside info. As I mentioned before and so have you. the possibility of either a partnership, acquisition, or investment might be in the making. If so management has to be very cautious on what they say as it can be construed as inside information and upset any discussions that might be on going.When in doubt remain silent. Hang in there we will soon be rewarded for our investment.