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MikeCr

09/13/17 11:48 AM

#55132 RE: PennyStock Alert #55131

Iconic and Arrayit met in court in March 2017 and couldn't get the issues resolved so they are going to trial on Oct 27, 2017

Delsurfer

09/13/17 11:50 AM

#55133 RE: PennyStock Alert #55131

What does the date have to do with anything? That's when the lawsuit was filed. Court date finally coming up next month?

Refer back to my prior post as well as to Mike's. They are being sued because Arrayit didn't let them convert balance to shares. According to the agreement, Iconic could convert to equity at any time. Contrast that with the more recent TCA agreement where there is specific language as to when they can convert (and they list the various situations that constitute a default).

Regardless if they were making payments or not, Iconic wanted to convert. That's the crux of the issue in my non-lawyer opinion.