Replies to post #102150 on Arrayit Corporation (ARYC)

[MikeCr]

Anyone with 1 million shares owns as many shares as Mark presently does.

Rene Schena, CEO, CFO, Chairman & Director
2,000,000 Common shares

Mark Schena, President & Director
1,000,000,Common shares

Todd Martinsky, Executive Vice President & Director
1,500,000,Common shares

Of course, each one of them owns over half million preferred shares that they can convert at the ratio of 1 preferred to 350 common. But if they convert, they'll be adding to the 1.055 Billion current common O/S. That's one of the reasons that the authorized shares are 2.4 Billion. There are limits how many they can convert in a quarter (see below)

"On August 15, 2008 the articles of designation for the Series C Preferred Stock were amended to limit the conversion to common to shares to 10% of the holders’ original holdings in any quarter."