I received a question about what I thought is goin
Post# of 30065
Posted On: 06/22/2016 3:52:16 PM
I received a question about what I thought is going on with AVDX.
My best guess is that Arrayit is dumping shares. The public float is only a little over 2 million shares so they are the most likely culprit.
Arrayit, AMBS and AVDX are in a dispute over the future of OvaDx. It may revert back to Arrayit.
AVDX filed the Exchange Agreement with the SEC and it included this:
"Agreement regarding Arrayit Corporation. On or prior to June 30, 2016, AVDX and AMBS shall have reached an agreement with Arrayit Corporation ("Arrayit" regarding the OvaDx technology transfer, share ownership and restrictions on sales or transfer of shares of the AVDX Common Stock held, which could result in, among other things, (i) the cancellation of all agreements with Arrayit including, but not limited to, the Technology Assignment Agreement, dated July 18, 2009, share exchange agreement (ii) entry into a lockup agreement for all shares of Buyer Common Stock held by Arrayit and/or (iii) any such other agreements as the parties may agree upon on or after the Closing."
If they cancel the Technology Assignment Agreement, the rights to OvaDx go back to Arrayit.
Maybe they cut a deal and part of the deal was that Arrayit could dump some shares.
My best guess ...
My best guess is that Arrayit is dumping shares. The public float is only a little over 2 million shares so they are the most likely culprit.
Arrayit, AMBS and AVDX are in a dispute over the future of OvaDx. It may revert back to Arrayit.
AVDX filed the Exchange Agreement with the SEC and it included this:
"Agreement regarding Arrayit Corporation. On or prior to June 30, 2016, AVDX and AMBS shall have reached an agreement with Arrayit Corporation ("Arrayit" regarding the OvaDx technology transfer, share ownership and restrictions on sales or transfer of shares of the AVDX Common Stock held, which could result in, among other things, (i) the cancellation of all agreements with Arrayit including, but not limited to, the Technology Assignment Agreement, dated July 18, 2009, share exchange agreement (ii) entry into a lockup agreement for all shares of Buyer Common Stock held by Arrayit and/or (iii) any such other agreements as the parties may agree upon on or after the Closing."
If they cancel the Technology Assignment Agreement, the rights to OvaDx go back to Arrayit.
Maybe they cut a deal and part of the deal was that Arrayit could dump some shares.
My best guess ...
(4)
(0)