Replies to post #10397 on Arrayit Corporation (ARYC)

[Got-tobemorecareful]

Just talked with the TA....4:58 pm
O/S 3,658,093

[MikeCr]

GS - you say "we probably need 320 million to 330 million shares".
Does "we" mean that you are an ARYC investor too?

So far as the September date for the 75K you keep talking about, the SEC filings do not mention a September conversion date.

THEY SAY IT CLEARLY THAT All interest and principal must be repaid on September 24, 2015. An that the note is convertible after March 24th. So that conversion could have started any time after March 24.

"On March 24, 2015, the Company entered into a Securities Purchase Agreement with LG Capital Funding, LLC ("LG"), for the sale of an 8% convertible note in the principal amount of $75,000 (the "Note"). The financing closed on March 24, 2015. The total net proceeds the Company received from this Offering was $75,000.

The Note bears interest at the rate of 8% per annum. All interest and principal must be repaid on September 24, 2015. Until March 24, 2015 the note is redeemable at between 125% and 142% of the face value plus accrued interest. After March 24, 2015 the note is convertible into common shares of the Company at 60% of the lowest OTCQB quoted trading price for the twenty (20) trading days prior to the notice of exercise. There are additional discounts of up to 25% if certain conditions are not met." Source is the 10Q

[MilkWai]

I thought the note had to be fully repaid by September 2015? And that conversions had started already.

[Bartlman]

Thanks for the summary General. Always nice to deal with things in "real" time. So, just trying to get a grip on market cap, we are somewhere in the 320 million x .005 range which is $1.6 million. Large given a company which seems to be capable of losing money on sales of their everyday merchandise. Small if any of the tests comes to fruition including OvaDx and the food pathogen test. Very hard to assign a value here in my opinion. Nice to see so much life on this board after being nearly dormant for months.

[Got-tobemorecareful]

I like your figure (320/330) with the 75k included.
Given that, this BS should be winding down in a day or two.