Arrayit Corporation (ARYC)

[Delsurfer]

General - reading through all the legalese is a little difficult. In the Notes agreement, it spells out 13 events of default, one of which is:

"(vi) any failure of the Company to satisfy its "filing" obligations under Securities Exchange Act of 1934, as amended (the "1934 Act") and the rules and guidelines
issued by OTC Markets News Service, OTCMarkets.com and their affiliates;"

Was the suit brought because they didn't pay back their loan or was it because they haven't kept up with their filings?

Thanks.