Arrayit Corp (OTCMKTS:ARYC) Slips Despite Touting

[[tagnumber 0]][[tagnumber 1]]The past several months have been very hard for the stock of Arrayit Corp (OTCMKTS:ARYC) and the shareholders. The ticker first began its descent in the middle of April, at first slow, but it quickly became quite steep. It managed to bounce back and regain some lost value in the end of May, but returned to its downward path after a single green session.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]By June 15 the ticker had wiped off a total of 97% of its value. Then we saw [[tagnumber 6]]ARYC[[tagnumber 7]] regain some of its positions in impressive volumes for no apparent reason. While there was no sign of a press release or a paid promotion we saw the company stock rise 52.94% and 196.15% on June 17 and June 18 respectively. This is something rather strange when you consider the fundamentals of [[tagnumber 6]]ARYC.[[tagnumber 7]] At the end of March the company had:[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 13]] [[tagnumber 14]]cash: $59 thousand[[tagnumber 15]] [[tagnumber 14]]current assets: $723 thousand[[tagnumber 15]] [[tagnumber 14]]current liabilities: $8 million[[tagnumber 15]] [[tagnumber 14]]revenues: $787 thousand[[tagnumber 15]] [[tagnumber 14]]net loss: $1.4 million[[tagnumber 15]] [[tagnumber 24]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]But this is not the biggest red flag surrounding the company. As we mentioned in our previous article, the company had a total of 64,371,019 shares of common stock on May 12. It is mind–boggling when a company stock has that much OS and we see 232,507,101 traded in a single session on June 18.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]On the other hand, there is the possibility that there are quite a lot more [[tagnumber 6]]ARYC[[tagnumber 7]] common shares out there in the market. Let’s not forget that a total of $1.2 million of the company’s current liabilities is in the form of notes payable. The most worrying part is the massive discount at which the notes can be converted.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]And as [[tagnumber 6]]ARYC[[tagnumber 7]] was touted by Small Cap IR yesterday we saw the ticker slip, which was no surprise. The company stock lost 11.32% of its value and closed the final session of the month with a price of $0.0047. A total of 35.83 million shares changed their owners, generating $167 thousand in daily dollar volume.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]According to the OTC marketplace the market cap of the company is $302 thousand, which is not that much. Still, let’s not forget that the number of outstanding shares may be far greater than that used for this estimate so the figures might be far bigger. In any case, do your due diligence and weigh out the risks before putting any money on the line.[[tagnumber 2]]