Arrayit Corporation (ARYC)

[rh22]

I have heard two explanations of why ARYC continues to trade in spite of being severely delinquent with SEC mandated deadlines for submitting financials, from people who are far more knowledgeable about the inside workings of the Schena clan.

I have posted both earlier. In my opinion both of these two reasons is the likely reason ARYC continues to trade.

1) Recently (short term) ARYC has quietly de listed as an SEC registered company. After doing so they closed the audit process with RRBB, because pink sheet stocks that are not SEC registered companies have no requirement to file.

2) Over the years (long term) ARYC has not felt any obligation to file in spite of being SEC registered because of an exemption carved out in the Obama era law -JOBS Act - that provides an exemption to "emerging companies" from complying with onerous/expensive filing requirements as per Dodd Frank. Recall the audit was foisted on ARYC by Iconic. The Schena's did not want it.

As a result I have it on good authority that ARYC is in no rush to engage a new auditor and indeed to file financials.

Sad, true and depressing.