Replies to post #154616 on Arrayit Corporation (ARYC)

[Delsurfer]

Agreed although Iconic claims that the sale (or attempts to sell) Avant shares didn't cover thier debt. Not sure of the timing of when they sold but certainly at the time they were transferred to Iconic the market value of those shares exceeded the amount owed. Of course, selling millions of shares of a small, fairly illiquid stock would tank the price. Not sure how the courts will view this. This is essentially the crux of the issue - Did Avant collateral satisfy the loan or not?

The Avant Collateral Shares were issued in Iconic’s name in or around May 2017. Despite Iconic’s attempts to sell the Avant
Collateral Shares, the proceeds from the sale did not extinguish Arrayit’s outstanding debt obligation.