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| | Business Summary: Arrayit Corporation engages in the development, manufacture, and marketing of life science tools and integrated systems for the large scale analysis of genetic variation, biological function, and diagnostics worldwide. | | | Address
524 East Weddell Drive
Sunnyvale
, CA 94089
Phone: 408-744-1331
Fax: 408-744-1711
Website: http://www.arrayit.com
| | Auditor |
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Berman Hopkins Wright & LaHam, CPAs and Associates, LLP
| | Transfer Agent |
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Standard Registrar & Transfer Co. Inc.
| Employees: 10
ShareHolders: 377 | Founded: 1999
Domicile: Nevada | | | |
| | Arrayit Corporation engages in the development, manufacture, and marketing of life science tools and integrated systems for the large scale analysis of genetic variation, biological function, and diagnostics worldwide. It also involves in the development and support of microarray tools and components, custom printing and analysis of microarrays for research, and identification and development of diagnostic microarrays and tools for early detection of treatable disease states. The company, using its proprietary technologies, provides a line of products and services that serve the sequencing, genotyping, gene expression, and protein analysis markets. It offers microarray printing technology consisting of Professional, 946, Stealth, and ChipMaker pins and printheads; and instrumentation, such as NanoPrint, SpotBot, SpotLight CCD fluorescence scanners, SpotWare colorimetric scanners, InnoScan laser scanners, TrayMix hybridization stations, high speed centrifuges, air jets, and vacuum products. The company also manufactures and provides consumables, including glass substrates and slides, reagents, solutions, kits, and clean room supplies. Its patented Healthcare technology, the Variation Identification Platform, allows diagnostic tests to be performed by depositing approximately 100,000 patient samples onto a single microarray. The company serves genomic research centers, pharmaceutical companies, academic institutions, clinical research organizations, government agencies, and biotechnology companies. Arrayit Corporation was founded in 1993 and is headquartered in Sunnyvale, California. | | History: INCORPORATED in Nevada Feb. 8, 2008, as Integrated Media Holdings, Inc. The company subsequently changed its name to Arrayit Corp., and on Mar. 12, 2009, merged its parent, Integrated Media Holdings, Inc., a Delaware corporation (Integrated Media Holdings - Delaware).
Integrated Media Holdings - Delaware was incorporated in Delaware Mar. 26, 1999, as New Planet Resources, Inc.; name changed to Planet Resources, Inc. July 15, 1999, to CeriStar, Inc. Oct. 15, 2002, to Endavo Media and Communications, Inc. Sept. 23, 2004, and to Integrated Media Holdings, Inc. Apr. 20, 2006.
Effective Feb. 21, 2008, the company completed a plan and agreement of merger and issued 103,143 Series C Convertible Preferred shares to the stockholders of TeleChem International, Inc. in exchange for 100% of the equity interests of TeleChem. | | | | Subsidiaries: |
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Arrayit Diagnostics (Ovarian), Inc.
Arrayit Diagnostics, Inc.
Arrayit Marketing, Inc.
TeleChem International, Inc.
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Management
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| Officers | Position |
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| Rene A. Schena | Chairman, Chief Accounting Officer & Chief Executive Officer | | Mark Schena | President, Secretary, Treasurer & Chief Scientific Officer | | William L. Sklar | Chief Financial Officer | | Todd J. Martinsky | SR VP |
| | Directors |
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| Todd J. Martinsky | | Mark Schena | | Rene A. Schena | | William L. Sklar | | | |
| | | | Capitalization as of 12/31/2009: | | | | | Authorized Shares | Outstanding Shares |
|---|
| Preferred $0.001 par | 20,000,000 | 128,763so1 | | Common $0.001 par | 480,000,000 | 19,085,859 |
| | | | LONG TERM DEBT: $180,656. | | | | Common $0.001 par | | | |
Stockholders:
03/26/2010,
377.
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Transfer Agent: Standard Registrar & Transfer Co. Inc.
Draper
, UT | | | | OTC Bulletin Board( Primary): ARYC | | | | Exchange | Year | High | Low |
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| OTC Bulletin Board | 2009 | 5.0000 | 0.0500 | | OTC Bulletin Board | 2008 | 4.5000 | 0.2100 | | OTC Bulletin Board | 2007 | 11.7000 | 0.2100 |
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| | | | DIVIDENDS: Common $0.001 par: No cash.
Common reverse split 1-for-30, Mar. 19, 2009. | | | | | |
so1Consists of 25,620 Series A and 103,143 Series C shares. Series C shares are convertible into a total of 36,100,000 Common shares. | |
| | Annual Report |
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| | | Income Statement | |
| 2009 | 2008 |
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| REVENUES |
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| | Total Revenues | 3,993,737 | 4,063,149 | | EXPENSES |
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| | Cost of Sales | (3,073,456) | (2,643,974) | | Selling, General and Administrative | (6,377,496) | (1,346,046) | | Research and Development | (335,100) | - | | Interest Expense | (278,497) | (721,408) | | Gain/loss on Derivative Liability | 10,134,240 | (1,199,140) | | Gain/loss on Extinguishment of Debt | (12,834,900) | - | | Legal Expense | (203,507) | (82,274) | | Minority Interest (Before Tax) | 66,908 | - | | Earnings before Taxes | (8,908,071) | (1,929,693) | | TAXES AND OTHER EXPENSES |
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| | Net Income (Loss) | (8,908,071) | (1,929,693) | | SUPPLEMENTARY INFO |
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| | Gross Profit/loss | 920,281.00 | 1,419,175.00 | | Operating Income (Loss) | (5,457,215.00) | 73,129.00 | | Basic EPS - Continuing Operations | (2.42) | (3.31) |
| | | | Balance Sheet | |
| 2009 | 2008 |
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| CURRENT ASSETS |
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| | Accounts Receivables | 71,944 | 261,656 | | Inventory | 241,436 | 484,368 | | Prepaid Expenses | 12,500 | - | | Total Current Assets | 325,880 | 746,024 | | NON CURRENT ASSETS |
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| | Property and Equipment, net | 68,688 | 41,451 | | Restricted Cash | 100,293 | 100,734 | | Deposits | 18,924 | 18,924 | | Total Assets | 513,785 | 907,133 | | CURRENT LIABILITIES |
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| | Accounts Payable and Accrued Liabilities | 5,320,239 | 5,143,622 | | Accrued Interest | - | 1,295,131 | | Due to Related Parties | 459,116 | 349,950 | | Bank Overdraft | 31,076 | 9,110 | | Notes Payable, Current Portion Including Related Parties | 852,931 | 3,120,418 | | Customer Deposits | 65,687 | 62,798 | | Derivative Liability | - | 1,525,684 | | Total Current Liabilities | 6,729,049 | 11,506,710 | | NON CURRENT LIABILITIES |
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| | Notes Payable-long-term | 180,656 | 248,412 | | Minority Interest | 204,342 | - | | Preferred Stock Convertible | 25 | 123 | | Preferred Stock Convertible | 103 | 103 | | SHAREHOLDERS' EQUITY |
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| | Common Stock - Par Value | 18,897 | 584 | | Additional Paid in Capital | 14,478,460 | 1,340,868 | | Accumulated Deficit | (21,097,740) | (12,189,670) | | Total Shareholders Equity | (6,600,262) | (10,847,990) | | Total Liabilities & Shareholders Equity | 513,785 | 907,133 |
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| | Interim Report
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| | | Data Not Available | | | | | | | | | |
| | Pro Forma Report
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| | | Data Not Available | | | | | | | | | |
| | Quarterly Report Information
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| | | Quarterly Revenue, US$ |
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| Year | Quarter | Revenue | | 2010 |
1 | 660,000 | | 2009 |
1 | 1,000,000 | | 2009 |
2 | 1,190,000 | | 2009 |
3 | 1,110,000 | | 2009 |
4 | 700,000 | | 2009 |
Full Year
| 3,990,000 | | 2008 |
1 | 850,000 | | 2008 |
2 | 1,080,000 | | 2008 |
3 | 780,000 | | 2008 |
4 | 1,350,000 | | 2008 |
Full Year
| 4,060,000 | | 2007 |
1 | 1,020,000 | | 2007 |
2 | 1,150,000 | | 2007 |
3 | 760,000 | | 2007 |
4 | 890,000 | | 2007 |
Full Year
| 3,820,000 | | 2006 |
Full Year
| 6,220,000 |
| | | | | | Quarterly Net Income, US$ |
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| Year | Quarter | Revenue | | 2010 |
1 | (720,000) | | 2009 |
1 | (20,430,000) | | 2009 |
2 | 15,170,000 | | 2009 |
3 | 2,400,000 | | 2009 |
4 | (6,050,000) | | 2009 |
Full Year
| (8,910,000) | | 2008 |
Full Year
| (2,030,000) | | 2007 |
Full Year
| (2,500,000) | | 2006 |
Full Year
| (410,000) |
| | | | | | Quarterly EPS, US$ |
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| Year | Quarter | Revenue | | 2010 |
1 | (.03) | | 2009 |
1 | (1.09) | | 2009 |
2 | .36 | | 2009 |
3 | .05 | | 2009 |
4 | (.88) | | 2009 |
Full Year
| (2.42) | | 2008 |
1 | (.37) | | 2008 |
2 | .05 | | 2008 |
3 | (.53) | | 2008 |
4 | (.02) | | 2008 |
Full Year
| (.12) | | 2007 |
1 | (.79) | | 2007 |
2 | (1.90) | | 2007 |
3 | (3.77) | | 2007 |
4 | 5.06 |
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