Arrayit Corporation (EM)【ARYC】株式ニュース

Good video

Lots of shades that could be applied to ARYC stock. In general if you are investing in a MEME or penny stocks you are swinging for the fences hoping one hits. And there was certainly a "cult" feeling that was here for years that was out of control once everything started to unwind. Once you start to throw out the basics of investing it becomes more a personal quest. "I invested in this company because I believe in what they are doing. Since they are trying to do good, they must be good and I believe everything they tell me. I don't listen to rational discussion points because I'm sure I'm right and this company is doing what they need to do." And then when things really start to go off the rails "Well, this is just a little set back, even though things are falling to the floor, this is an even better time to buy as I believe in them. Even though there are lawsuits, complaints from employees and business partners, I'm confident they are doing what they need to do to get us all to the promise land."

In full disclosure, I was not one that thought this was a pre-meditated scam. They had a solid business for years and then decided to go public. Dr. Schena went from visiting scholar to President and member of the board. They then had a string of lawsuits over the years/problems with the labor board etc. Seems like every partnership went to the toilet. These were the public events. Who knows what other issues were going on. I'm guessing they quickly started to burn cash and started to embellish where they really were. Embarrassing PR's and Tweets became the norm (and were later found to be criminally fraud). The SEC reporting stopped cold and never resumed. "Private" shareholder meetings & social media releases were given in place of actual SEC reporting. As the pressure mounted, the "Father of Microarray" did a series of missteps which ultimately landed him and others in prison. IMHO these missteps happened because as the company was failing, and instead of just facing the music, his ego would not let him tell the public what was actually going on. Or they just did not have the money to pay the auditors. Maybe it was a mix of both. Since the board was family I'm sure they just looked the other way as the some in the investment community cried foul. The the others in investing community here did not care one bit even though everything was actually burning to the ground. People actually bringing up rational comments were branded "negative" and dismissed. Even when the criminal charges were brought there were many posts here that this was a witch hunt and how dare they do this. Many similarities to the Bed Bath and Beyond investors in the video. Reading the court reports there were people that put hundreds of thousands of dollars in this company (life savings for some) solely on the word of what the Dr. Schena social media told them. We have seen how it has all shaken out in the past couple of years. Criminal convictions with a heavy sentence and restitution for Dr Schena. Heavy losses for some.

So in the end "Buyer Beware" is a saying that everyone should adopt. Everyone has the right to do what they want with their money. If the actions of the board of directors here has not giving you a reason to move along then it's your right to do what you feel is best.

For me, they betrayed the public trust and made a shambles of things all in the name of keeping up with the Silicon Valley Jonses. I don't believe they will ever to be able to raise money again, and even if they do that restitution looms large. If they could not do things the right way when they were public the first time around, what confidence do I have now that there's convicted felons in the mix and their backs are even more against the wall. If there was some magic product or technology sitting around, why was it not successful before everything crashed to the ground? To me that reeks of false promises (this was prove to be true in a court of law), terrible management by the board or both.

Given all of this, if you still believe in the products/company and the management team that's your right. I just hope and pray you don't end up like some of those Bed Bath and Beyond folks who got fleeced and are now wondering what the hell happened.