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16. SUBSEQUENT EVENTS
9 Months Ended
Sep. 30, 2013
Subsequent Events [Abstract]  
16. SUBSEQUENT EVENTS

Sid Taubenfeld, R.Ph, was appointed a member of the Registrant’s Board of Directors, effective October 14, 2013.

 

On October 18, 2013, Arrayit Corporation raised $1,000,000 of working capital from a group of accredited investors.  The sale and issuance of the securities discussed above were determined to be exempt from registration in reliance on Rule 506(b) of Regulation D.

 

On October 21, 2013, Arrayit Corporation entered into a lease agreement with Dollinger Oakmead Associates (the “Landlord”) for a 15,000 square foot research and development space in Sunnyvale, California (the “Lease”). The Lease begins on January 1, 2014, and runs for a period of seven years with a monthly rent of $19,500.00.

 

On November 6, 2013, Arrayit Corporation entered into a consulting agreement with Diagnostic Oncology Research Organization, Inc. (DOCRO) to pursue CLIA and ISO approval for the new laboratory.

 

On November 11, 2013, Arrayit Corporation entered into a master services agreement with Diagnostic Oncology Research Organization, Inc. (DOCRO) to begin the pre-IDE submission process for OvaDx®.

 

At various dates during the quarter ended September 30, 2013, the Company agreed to issue 7,600,000 warrants to purchase shares of its common stock at prices ranging from $0.13 to $1.20 per share for three years. In November 2013, the 7,600,000 warrants were rescinded effective as of the date of their original issuance.  None of the warrants had been exercised.