Replies to post #41084 on Arrayit Corporation (ARYC)

[lucky, mydog]

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


typically a loan is paid back with discounted shares but if a company is delinquent they can't be issued.

[General_Sevier]

The lawsuit was crystal clear....... ARYC wouldn't let them convert any of the debt to equity as is the design of the TOXIC DEBT DEAL. Iconic demanded compliance or repayment of the notes and ARYC wouldn't even acknowledge their demands and totally ignored them.

Iconic notified them they were in default and sued them....