Well if you knew how to read an SEC filing, ARYC incurred total operating expenses for the entire Q2 of $541,713 plus a bad debt reserve of $1,550,000). So they spent little to nothing on OvaDx in June or in Q2, 2014. Yes I nailed it, the number is an aggregate of everything ARYC claims they spent since mid 2010, included "billing" for time spent by the "family" since mid 2010.
mr know-it-all, how much do you think they spent doing the validation tests in June? Also,they've had no money unto the $2.1 MM capital raise in late 2013 to spend on work for the FDA approval. So, that charge is recent.
Wrong, you won't find it in the expenses in Q1 or Q2, meaning it's old stuff. Otherwise 6 month numbers would have over $1.5 million in R&D or otherwise over $3.1 in extra operating expenses ($1.5 incurred + the $1.5 related to immediately writing off the "revenue"
This is new (not previously recorded as you say). Most likely pertains to the validation study with DOCRO performed in June 2014, and the work toward the pre-IDE submission.
"The increase in sales was a result of Arrayit Corporation invoicing Avant Diagnostics, Inc. $1,550,000 in June 2014 for work it performed toward FDA approval of OvaDx"
It's even funnier because think they had previously had previously recorded this and written it off in 2012 or 2013. Now it appears a rinse and repeat. Don't matter if this is the 1st or 2nd tie, it's a joke of an SEC filing and a really bad joke of a tweet. Makes you wonder whether the real focus of the company is writing comical tweets!!!!!!!
Invoicing Avant and calling it revenue is misleading, and we don't want worthless Avant stock anyway. When is record date, a year or more?
"Arrayit Q2-2014 reports record quarterly revenues, record gross margin, 223% quarterly revenue increase, OvaDx® progress, dividend and more!"
Arrayit (ARYC) 223%, Facebook (FB) 61%, Illumina (ILMN) 25%, Google (GOOG) 22% and Apple (AAPL) 12% growth reported in Q2-2014 over Q2-2013.
What about the 1600+% operating loss?.
Did any of the comparison companies operate with such staggering losses? NO
They have some nerve telling these half truths.
One thing is for sure, this new facility is costing them a fortune. Hopefully it will not be their demise as has been the case with so many others.
They have the tools, lets see some results.
This past qtr was a huge dissapointment IMO.
at least these lawsuits about ovaDx ownership are settled.
less dark clouds hanging over.
and Avant has one year to get its act together otherwise Arrayit will recover the rights to sell OvaDx
I was hoping that as part of the settlement he was going to head the Food Safety division. But who know what the deal is.
Avant is back LoL! Here comes that dividend BS again! Why do they insist to make things so complicated, no wonder they can't get anything accomplished, even if they had $$$.
Avant website still totally dead, this is just a tedious and time consuming shell game now.
Sorry, just totally dumbfounded by the chain of events I have witnessed over the past 5 yrs. You just have to laugh.
According to the 10Q, they are working to settle the lawsuit over the Cap Raise, and as I mentioned before Mr. Taub appears to be working as VP of Business Developmet for the Arrayit Food Safety chip since August 2014
Ask yourself this? Did Avant and the executives properly report taxable income and d required withholding for all the stock that was issued to executives in 2010 and 2012? Did those 10 million shares issued by Avant at the end of 2012 go to Scott and Lynn and if so, did Avant report income on those amounts and do withholding? I don't know, I'm asking. What's 10 million shares at $0.25 per share come to? Looks like $2.5 million.
How about the 1 million shares Howell got in 2012 and the shares he got in 2010?
How about the "discounted stock options" Howell got in February 2012? Read how these have to be treated under Section 409A as of the end of 2012, 2013, 2014, etc. Did Avant follow Section 409A at December 31, 2012 on Howell's O/S and vested stock options?
Very small revenue amounts, large losses, a lawsuit over the Cap Raise in 2013. ARYC has no money and it's unclear if Avant has any. Will OvaDX even show the necessary efficacy? Can the parties even fund enough R&D for OvaDx?
(assuming there are around 60,000,000 Arrayit shares outstanding)
"Arrayit Corporation will dividend ten million (10,000,000) shares of Avant Diagnostics to the Arrayit Corporation shareholder"
On August 11, 2014, Plaintiff Reuben Taub sued Defendants Rene Schena, Mark Schena, Todd Martinsky and John Does 1-10 in the Supreme Court of the State of New York,
The parties are working toward settlement.
Could the settlement involve he being in charge of the Food Safety chip developed by Arrayit and USDA?
According to Mr. Taub's LinkedIn profile since August 2014 (1 month) he is
VP = Business Development
August 2014 – Present (1 month)|Sunnyvale, California
Array Molecular engages in foodborne pathogen detection testing using DNA microarrays.