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Having been here for several years today's news does not surprise me in the least.
ARYC for it's entire 20 odd year existence has "OVER PROMISED AND UNDELIVERED".
Remember my saying: Nothing Mark and gang says can be believed. It is just one negative shock after another.
If in fact a Form 10 follows the Form 15 filing, Mark and gang will be absolved of of getting caught in lies tweeted in earlier year's. Like the $27 million dollar contract ARYC supposedly landed over three years in 2017, and many other such tweets.
This is all so sad, predictable, depressing and revolting.
Mike this is depressing.
Much lower than I thought. I was using a 20% reimbursement rate on ARYC'S billings.
Looks like - based on the average of the your reimbursement rates - the rate is closer to 10%.
Sad, true and depressing.
P.S. Still let's hope for once ARYC is under promising and will over deliver.
Thanks.
I do look forward to them.
If there are no ARYC tweets today allergy billings for the week will fall well below $2 million as was PR'd by ARYC:
For this week total billings are : $1,749,633.
Sad, true and depressing.
Looks like Mark and gang have abandoned the twitter station and decamped to the closest beach for a little R&R.
After all there is no business and it is a pleasant Friday afternoon.
Sad true and depressing.
Try this:
If you send an email to Mark that reads:
"Dear Mark
The cow jumps over the moon. The cow jumps over the moon. The cow jumps over the moon".
Sincerely
xxxx"
The response you will get back is the following:
"Dear xxxx, Nice to hear from you. We appreciate your support and positive feedback. Thanks, Mark
Arrayit has ambitious growth plans including listing on NASDAQ. In accordance with these increased regulatory requirements, all financial statements and information going forward will be made available through formal regulatory filings. 8-K, 10-K, 10-Q and other forms filed by Arrayit Corporation are available at sec.gov.".
Yes folks Mark and gang have gone to ground, leaving us bag holders.
Sad, true and horribly horribly depressing.
The relentless selling of shares is possibly coming from a long term poster on this board, who has stopped posting in "morse code".
He did have a 50 million share stash and I believe he has been liquidating his holdings and continues to do so.
I expect the stock to rise once he is done selling.
Sad, true and depressing.
P.S. Old timers will know to whom I refer...
I don't recall any talk of CRADA.
As to what documentation Mark produced I don't know.
This is why I am hoping that somebody smart and on the ball - like you or Del or Mikecr - will make the effort to go physically to meet with Mark and really rake him over the coals.
Sadly we just have starry eyed not very sophisticated types visit, and Mark bamboozles them with hype and administers the test.
These people come away believing every word.
Sad, true and depressing.
Agree. That is why I said a 20% reimbursement rate was generous. At a 10% reimbursement rate ARYC would only have $12 million in annual revenues.
The hyping part I fully agree with. As I noted yesterday no respectable firm tweets about the dollar amount of inventory they are producing, that is pure hype.
That is just ridiculous.
It is assumed that over the course of business inventory is produced, sold and revenues booked and reported, together with some estimate of inventory on hand.
Ridiculous nonsense from Mark and gang.
Sad, true and depressing.
A firm's year's of existence as a public company does not determine if it is classified as "emerging", rather it is size and business segment/industry in which it operates.
Sad, true and depressing.
Yes true. Most firms shy away from discussing legal entangements.
Mark on the other hand has been quite forthcoming. He has apparently told posters that the Taub case was frivolous, and both the Taub and Iconic cases were having no impact on ARYC'S willingness and ability to file financials.
Sad, true and depressing.
Don't agree.
I think the billings for allergy tests is ARYC'S major business segment. Equipment and consumables sales have fallen off drastically. There are some additional revenues from analyzing the Pinner test results.
hence the reworking of the website which will show this shift, I think.
Much of their equipment will be relegated to an inside page on the new website and the allergy tests - and maybe FDA approved OVaDx - we can only hope - will be more prominent.
Sad, true and depressing.
You say:
If this is the case - i.e. the two legal entanglements are the reason for the financial holdup - why doesn't Mark just say it out loud. It will add needed clarity to the situation and people will stop bad mouthing Mark and investor confidence will rise.
Instead Mark has categorically insisted on several email responses - even one to me - that the legal issues are not holding up financials.
What does he gain by remaining silent and lying?
This just doesn't make sense.
Sad, true and depressing.
ARYC is not doing that well. Let's do some math.
To wit:
After about 3 months (a quarter) ARYC has supposedly billed around $30 million. Assuming this trend continues ARYC will do about $120 million in billings over the year,
A reimbursement rate of around 20% - very generous - would give ARYC revenues around $24 million for the year. That is it!
After subtracting costs ARYC could report huge and growing losses.
So a market cap around $20 million may be about right or too high.
Sad, true and depressing.
I have posted this before but it is worth posting again:
A very reliable source has told me that Mark told him/them that ARYC does not have to file financials with the SEC because of a provision of a law passed during the Obama administration that exempts some emerging firms from onerous paperwork requirements. Mark showed him documnetation.
He was also told that remaining on the pink sheets further shields ARYC.
Mark assured this person that delisting was not going to happen.
This person then agreed to go into business with ARYC.
Sad, true and depressing.
ARYC'S management troika is as slippery and slimy as it gets.
To wit:
Two recent tweets the first mentioning the commencement of $240 million inventory run for test kits, and the second mentioning a $27 million manufacturing inventory run of micro array equipment.
This is nothing more than another feeble attempt by Mark and gang to desperately pump this dying stock.
How do I know?
Ask yourself: Have you ever heard of a reputable firm like say APPLE announce an inventory run amount on I Phone 10's? NO. Apple sells the inventory and announces the revenue generated and the profit or loss.
In ARYC'S case there is no guarantee the inventory will ever be produced, let alone it's value,let alone be sold so it can generate revenues.
It is just ARYC'S word, basically designed to excite naive unsophisticated penny traders.
This is all so sad, and depressing.
If ARYC was really the next big thing and they were raking in the dough as Mark and gang wants us to believe, why has NO REPUTABLE INDUSTRY ANALYST EVER - old timers will remember Mark constantly mentioning an analyst called Tim Evans at Wells Fargo in his tweets - written or mentioned ARYC in a report?
It just does not happen.
Word would have got out by now.
This whole situation reminds of a whole slew of fraudulent Chinese companies that listed on NASDAQ a decade ago and would put out amazing sounding PR's about business growth in China, and of course it was all BS.
Everyone of them thankfully has been delisted.
Is that ARYC'S upcoming fate?
Sad, true and depressing.
I posted about this yesterday also:
"Arrayit clinical sales team reports 21 allergy testing services sales to a top five health benefits company headquartered in the United States and providing premium commercial health coverage to 100 million Americans on annual revenues topping $220 billion"
What does 21 allergy tests mean?
If it means 21 allergy tests then even at $500 a test that is only $10.5K worth of billings.
Is that really worth tweeting about?
Sad, true and depressing.
Has anybody else noticed a slight change in wording on a couple of today's tweets:
"Arrayit clinical sales team reports 10 allergy testing services sales.."
"Arrayit clinical sales team reports 6 allergy testing services sales..."
What does that mean?
ARYC only sold 10 and 6 allergy tests?
Well that is a tiny sum of money and would be very disappointing.
Sad, true and depressing.
Call and write Mark and tell him that we - greedy unsophisticated penny stock trading shareholders - are mad as hell and we won't take the Schena clans lying and obfuscation anymore.
Failing an 8K that announces the establishment of a new auditor within the next seven days, we plan to file a class action lawsuit against ARYC for violating their fiduciary duty to their shareholders.
Sad, true and depressing.
The reality is all the biweekly PR'S have now devolved into worthless BS fluff PR'S.
The Schena's have run out of PR material and these latest one's are just signs of desperation to keep this bi weekly PR game going.
I expect them to stop within the next month or so because clearly ARYC wants to go dark.
Sad, true and desperate.
You say about ARYC:
"Fine they are one of the thousands of labs that charge Medicare for lab tests."
You are absolutely correct. I fact months ago when they first tweeted about getting CLIA certification on the lab, I noted that there were hundreds of such labs in the US.
Honestly today's tweet is actually negative news.
Months ago they tweeted about their lab being certified for Medicare and Medicaid services. They finally tweeted about getting payment clearance from Medicare in only two states and a couple of tiny Islands.
Ridiculous nonsense.
Honestly Mark and gang are an absolute disgrace.
Sad, true and despicable.
However unlike ARYC, none of them had not filed their financials in almost four years in direct violation of SEC regulations and were flirting with delisting.
Sad, true and depressing.
I just have to gag at Mark's bald face lying, when he emails people and tells them that getting the financials done is a top priority at ARYC.
Were that the case why has no auditor been appointed since RRBB quit about three months ago?
Sad, true and horribly depressing.
Honestly given the tweeted gaffes made by Mark and gang over the years, yesterday's tweet about an absurdly large inventory run of $240 million is almost certainly a typo.
But don't except ARYC'S shady slimy management troika to correct it.
Sad, true and depressing.
There is no clear cut evidence that links ARYC to this test and toothpaste.
Unbelievable.
Sad, true and disappointing.
You say:
"...people certainly want shares here"
I think you meant to say "...people certainly DON'T want shares here'.
Just look at the abysmal volume....
Unbelievable nonsense.
Sad, true and depressing.
How can anybody have any faith in this stock if three months after RRBB quit as the auditors, Mark and Renee have made no announcement about a replacement auditor.
Nothing good will happen to shareholders until and unless the audited financials are completed and released.
That is job one and ARYC'S shady slimy management troika cannot seem to follow through.
I am wondering if Mark and Renee just don't have financial records that can produce audited financials.
If that is the case, we are all cooked.
Sad, true and depressing.
Actually I think you are wrong.
Most of these clinics are very small and do few tests. Most of their allergy testing revenues come from relatively large established health care organizations with thousands of members.
My guess is if all the small clinics closed - like the one you went to in Vegas - it would have a minimal impact on daily billings.
Sad, true and depressing.
Picture of Mark and Renee:
https://www.instagram.com/p/B0uo7BnncvT/
This is a picture of Mark (President of ARYC) and Renee his wife (CEO of ARYC) celebrating their 28th wedding anniversary. It says so in a message to the right of the picture.
Looks like they are both drinkers. In fact Mark has a glass of wine/champagne and a glass of Scotch and water(?).
Mark is dressed like a "shady" guy in Las Vegas. Gold chain, shades, black shirt exposing a proverbial hairy chest and a really loud jacket.
Why does it not surprise me that the two have involved themselves with slime balls the likes of Taub.
Hmmm..is this the picture of a staid scientist working hard to grow his company and benefit his shareholders?
I get progressively more worried with every passing day.
Something smells to high heaven.
Sad, true and horribly depressing.
It looks like ARYC is averaging about 1000 tests a day billed at $500 a test, hence most days the billed amounts are around $500K.
I would guess revenues are around 20% of that amount on a daily basis.
Depending on your perspective that could be good or disappointing.
Sad but true.
Del yes there is value but it may not be what most thought/think.
If you recall with each iteration of the case over the year's the amounts demanded by Taub declined precipitously, till at the very end - for a supposed lucrative food test - the amount requested by Taub was surprisingly small.
Of course I defer to our resident historian MikeCr on this version of events.
Sad but true.
You say
"....until financials have been released"
I think the market is in a "IF financials are ever released" mode.
Remember after almost 3 months ARYC is yet to announce a replacement audit firm.
It has also occurred to me that the food safety test may have been hyped by Mark and gang as being more important than it really is...like a lot of ARYC'S technology.
Sad, true and depressing.
Why wasn't ARYC'S first tweet not about the court decision?
Isn't it good news and an opportunity for Mark to pump the stock?
Hmmmm......
Sad, true and depressing.
The news of the dismissal of the summary judgement request from Taub, is being greeted by a huge yawn by the broader investing public.
In theory after a quick settlement - Taub lost on the facts - the food test is now free for ARYC to commercialize in conjunction with the USDA and generate revenues.
Unfortunately the market does not see it that way.
Not good.
What are we missing?
Even supposed good news is a nothing burger for Mark and gang.
Sad, true and depressing.
Today's ARYC tweet:
"Arrayit clinical sales team reports $518,800 billed for clinical testing services to top health benefits leaders headquartered USA and providing premium commercial health benefits to 150 million Americans on aggregate annual revenues topping $335 billion"
Yesterday ARYC billed $518K to several health benefit firms who decided to administer the allergy test to it's patients. The combined revenues for these firms amounted to $335 billion.
That amounts to about 1036 allergy tests administered yesterday, at $500 billed per test. That is very doable and may actually be viewed as pretty disappointing given the number of clinics signed up on the website (844) and the many large HMO's etc that ARYC supposedly has contracts with.
If we generously assume ARYC gets 20% of this amount in revenues that was only $103K in revenues yesterday or about $25 million in revenues over 260 business days annually.
Sad but true.
I am not saying you should believe these billed amounts that ARYC tweets on a daily basis. but the amounts are not outrageous. To wit:
It is important to note that the tweet says that the amount billed ($295K) is for all the allergy tests prescribed by many health care firms over the course of the previous day. The revenues of all these firms combined amounts to about $300 billion.
See red highlighted sections below.
"Arrayit clinical sales team reports $295,012 billed for clinical testing services to top health benefits companies headquartered USA and providing premium commercial health benefits to 110 million Americans on aggregate annual revenues topping $300 billion"
$295K billed at $500 per test - I am not suggesting this is what ARYC receives as revenues - means that 590 tests were administered over the course of the day.
That is not a lot of daily allergy tests.
Sad true and depressing.
Maybe mark is busy getting ready to uplist to the NASDAQ tomorrow, hence no tweets today.
We can only hope.
Sad, true and depressing.
Somebody needs to do another "drive by" and see if there is any sign of life in ARYC'S parking lot.
This is really going from bad to worse.
I am almost at the point of flying out and showing up unannounced to have a chat with Mark and gang.
This is just unbelievable.
Sad, true and depressing.