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Arrayit Diagnostics Files S-1 Registration Statement

SUNNYVALE, Calif., (November 15, 2012- BUSINESS WIRE)  —  Arrayit Corporation (OTCQB:ARYC) (“ARYC”) is pleased to announce that  Arrayit Diagnostics, Inc. (“AD”) has filed an S-1 registration statement with the Securities and Exchange Commission today. Upon the effective date of the registration statement, AD will be an independently traded public company and will distribute one share of AD for approximately every 3.34 shares of Arrayit Corporation held shortly thereafter.

John Howell, President and CEO of AD, stated, “Upon approval of this registration statement by the SEC, AD will be spun off from ARYC, allowing us to proceed with the previously announced financing agreement. We are confident that our efforts to commercialize our proprietary Diagnostic tests will be achieved.”

Rene Schena, ARYC CEO, adds, “The accretive benefits to our shareholder base, by granting them ownership in an additional public company, enables them to benefit from two distinct revenue streams.”

About Arrayit Corporation

Arrayit Corporation, (publicly traded under symbol “OTCBB:AYRC”) headquartered in Sunnyvale, California, leads and empowers the genetic, research, pharmaceutical and diagnostic communities through the discovery, development and manufacture of proprietary life science technologies and consumables for disease  prevention, treatment and cure. Please visit www.arrayit.com for more information.

About Arrayit Diagnostics

Arrayit Diagnostics (website http://arrayit.com/Microarray_Diagnostics/microarray_diagnostics.html), headquartered in Redmond, Oregon, is leading the research and approval process of diagnostic tests for cancer based on molecular diagnostic technology.

About American Equity Fund LLC

The American Equity Fund LLC (“AEF”) provides an alternative funding mechanism, an Equity Line Facility (“ELF”), for SEC reporting publicly traded micro- and small-cap companies that want to take control of their financial futures. An ELF is a flexible financing structure in which AEF commits to purchase shares of Common Stock directly from an Issuer, at prevailing market prices, over a multi-year period. When an Issuer elects to drawdown on the ELF, AEF is obligated to purchase an amount of shares equal to the dollar amount requested with a discount to market and warrant coverage to underwriting expenses. Issuers request drawdowns at their discretion in accordance with the terms of their funding agreement.

About Rhodes Holdings LLC

Rhodes Holdings LLC (“RHL“, https://rhodesholdings.wordpress.com) was founded on the principle that public companies‘ top officers need help with the complexities and demands of the public markets.  Funding their companies and managing public S.E.C. reporting shouldn’t take all of these officers’ time and that is when RHL comes in.  RHL provides a turnkey solution for companies that would like the benefits of being public but have not experienced it before.  RHL was founded by Mr. Robert C. Rhodes in 2005.  Mr. Rhodes is surrounded by professionals dedicated to your success, including SEC lawyers, general counsels, auditors, IR professionals, and investment sources that he has historical knowledge.

Safe Harbor Statement

We have identified forward-looking statements by using words such as “expect,” “believe,” and “should.” Although we believe our expectations are reasonable, our operations involve a number of risks and uncertainties that are beyond our control, and these statements may turn out not to be true. Risk factors associated with our business, including some of the facts set forth herein, are detailed in the Company’s Form 10-KA for the fiscal year ended December 31, 2011 and Form 10-Q for the quarter ended June 30, 2012.

Contact:
Arrayit Corporation
Steven Scott, 617-448-1300
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Posted by on November 16, 2012 in BLOG, Business, Entrepenuers, News, Public markets

 

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Arrayit Diagnostics, Inc. Announces $8 Million Financing Commitment

SUNNYVALE, Calif., Oct 04, 2012 (BUSINESS WIRE) — Arrayit Corporation (OTCQB: ARYC) is pleased to announce that Arrayit Diagnostics, Inc. (“AD“) has secured a financing commitment from American Equity Fund, LLC to purchase up to $8 million of the common stock of AD. This financing will commence upon the completion, filing, and approval by the SEC of the S-1 Registration Statement. The specific terms and conditions of the financing commitment will be fully disclosed in the Form S-1.

John Howell, President and CEO of AD, stated, “I am very pleased with the completion of this financing package, as AD now has the necessary financial resources to reach the next critical milestone in the expansion of the research and development of disease states beyond current activities.

Rene Schena, Arrayit Corporation CEO, adds, “This important milestone illustrates the value of microarray-based testing in oncology and other human disease areas. The capital raise in Arrayit Diagnostics represents an important step in our growth strategy.

About Arrayit Corporation

Arrayit Corporation (publicly traded under symbol “OTCBB:AYRC“, headquartered in Sunnyvale, California, leads and empowers the genetic, research, pharmaceutical, and diagnostic communities through the discovery, development and manufacture of proprietary life science technologies and consumables for disease prevention, treatment and cure. Please visit www.arrayit.comfor more information.

About Arrayit Diagnostics

Arrayit Diagnostics (website http://arrayit.com/Microarray_Diagnostics/microarray_diagnostics.html), headquartered in Redmond, Oregon, is leading the research and approval process of diagnostic tests for cancer based on molecular diagnostic technology.

About American Equity Fund LLC

The American Equity Fund LLC (“AEF”) provides an alternative funding mechanism, an Equity Line Facility (“ELF”), for SEC reporting publicly traded micro- and small-cap companies that want to take control of financial futures. An ELF is a flexible financing structure in which AEF commits to purchase shares of Common Stock directly from an Issuer, at prevailing market prices, over a multi-year period. When an Issuer elects to drawdown on the ELF, AEF is obligated to purchase an amount of shares equal to the dollar amount requested with a discount to market and warrant coverage to underwriting expenses. Issuers request drawdowns at their discretion in accordance with the terms of their funding agreement.

Safe Harbor Statement

We have identified forward-looking statements by using words such as “expect,” “believe,” and “should.” Although we believe our expectations are reasonable, our operations involve a number of risks and uncertainties that are beyond our control, and these statements may turn out not to be true. Risk factors associated with our business, including some of the facts set forth herein, are detailed in the Company’s Form 10-KA for the fiscal year ended December 31, 2011 and Form 10-Q for the quarters ended March 31, 2012 and June 30, 2012.

SOURCE: Arrayit Corporation

CONTACT

Arrayit Corporation
Steven Scott
617-448-1300

Copyright Business Wire 2012

 
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Posted by on November 6, 2012 in BLOG, Business, Entrepenuers, News, Public markets

 

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iVoice, Inc. retains Rhodes Holdings for go forward plan

IVoice, Inc. retained Rhodes Holdings LLC (“RHL”) for management consulting associated with the recently completed change of control from previous management to American Security Resources Corp. (“ARSC”)  RHL is working with ARSC management, now iVoice’s management as well, to clarify and announce specific steps associated with iVoice’s Hydra Fuel Cell subsidiary and its business plan, operations plan, and funding.

Rhodes Holdings is taking our previous ARSC business plan and integrating it with the recently completed acquisition of iVoice, Inc. by ARSC.  Management believes that the forthcoming communication of our combined plans will be concise, integrate with realistic funding, and allow us to continue operations at Hydra Fuel Cell Corporation,” said iVoice, Inc. Chairman and CEO Mr. Frank Neukomm.  “Our ‘go forward plan’ phases are:

  • Phase 1 is concise plan communication for both iVoice and ARSC,
  • Phase 2 is funding and debt repayment,
  • Phase 3 is operations, and
  • Phase 4 is an iVoice shares dividend.

In the coming weeks, iVoice and ARSC will provide new investor materials and commentary from management on our business plan and its implementation.

About iVoice, Inc.

iVoice, Inc. (“IVOI”) soon to be renamed Hydra Fuel Cell Corporation after its wholly owned subsidiary Hydra Fuel Cell Corporation (‘Hydra”), develops and manufactures advanced proton exchange membrane based hydrogen fuel cells.  Hydra produces fuel cells with capacities from 500 watts to 5 kilowatts, primarily for residential and light commercial use.

About American Security Resources Corp.

American Security Resources Corp. (“ARSC”, http://www.americansecurityresources.com) owns and develops unique intellectual property related to hydrogen fuel cells and business activities to help speed their implementation, funding, and sales.  In early 2012, ARSC took control of iVoice, Inc. in order to incubate, fund, and eventually dividend out its wholly owned subsidiary Hydra Fuel Cell Corporation, now an iVoice, Inc. subsidiary.

About Rhodes Holdings LLC

Rhodes Holdings LLC (“RHL”, https://rhodesholdings.wordpress.com) provides management consulting services that allow its clients to seek financing through the public markets, either through mezzanine debt, equity, or bank debt.  RHL management consulting is provided within the framework of its copyrighted RHL Methodology.

Safe Harbor Statement

The statements in this release that relate to the Company’s expectations with regard to the future impact on the Company’s results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  The results anticipated by any or all of these forward-looking statements may not occur.  The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company’s plans or expectations.

Contact

Frank Neukomm
info@amsrcorp.com
713-465-1001


This press release was originally released by American Security Resources Corp. (Frank Neukomm) at 8:00 AM CST.

 
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Posted by on April 3, 2012 in BLOG, News, Public markets

 

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