Arrayit Corp (OTCMKTS:ARYC) has revealed plans to sell custom Arrayit blood card technology to Vivos “Global Genome Vault”, which is the only private human DNA vault on the planet. Additionally, the company also revealed plans to expand its patent for food safety testing, developed with USDA, worldwide. The US Department of Agriculture and Arrayit had been working together as part of a cooperative research and development agreement. The cooperation was targeted at developing quick and cheap detection technologies for Noroviruses and Pathogens. However, Arrayit holds an exclusive license to market the technology.
As per the statement from the company, Arrayit would expand the testing service to countries like Brazil, Canada, China and EU amongst others. The federal department and the company had successfully met their goals to develop a portable and efficient detection and surveillance system for viral food borne pathogens.
Vivos vault is based on the concept that a person’s own DNA can someday be used to extend their life. This would be done by using healthy DNA for regenerative medication. This means that taking a part of the DNA as it exists in a person today, can be used to repair physical damages to cells and tissues to restore normal body function at a later time. However, storing the DNA of every human is no easy task, which why Arrayit’s blood cards have been employed. The cards would allow collection, separation and storage of the DNA in a miniaturized form.
Unfortunately, despite the recent developments investors have remained uninterested in the stock. The company’s poor financial health can be one of the reasons for poor stock performance and value. As per the latest filing by the company, it only has $58,000 in cash, $787 in revenues, with $1.2 million in payable notes and a net loss of $1.4 million. With not much finances to carry on its operations, Arrayit could very well be looking towards dilution to stay in business.
Arrayit Corp (OTCMKTS:ARYC) lost 8.06% of its value on June 3, after trading 64.37 million shares, to close at $0.0057.