Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
The rule used to be you didn't need to file a W-9 if the income was less than $600.
The company sends out a W-9 to have accurate information - but they should send a 1099 once the money is distributed.
IG
thanks, your quick response is much appreciated!
I don’t have any more info than I gave the other day. No details on awards or timing
Looks like no hearing. Just a bench decision on the motion which seems very likely to mirror the initial decision ordering the company to convert the preferred per Discovers request. Seems like these courts have a fixed waiting period to respond that is 2, 3 or 4 weeks depending on the judge to allow for additional filings. This Friday is 3 weeks. I can't wait to see what Bignitz and Ziv do when the court issues its ruling. I bet they wait a few weeks and keep the game going. Maybe another shareholder vote. That's always good for a year.
I had no idea that they were this far ... do you have any idea as to what the pro/rata is?
If they're waiting for final approval, they must have that percentage figured out? I am dying to know. Do you have the exact qualified loss amount for yourself? I am waiting to hear what that amount is for me. Hope we don't have to wait too much longer
ALVINNNNNN! Its been 2 weeks now. You asked the lawyers to rush. Now its your turn.
I received nothing by email and I own $OWCP in 2 brokers,
which is the address mailed you?
Thanks
Missing date will only delay your refund .
I just got off the phone with agent . Called because I didn't receive the w9. She said not everyone is getting it only required for some people.
I did. I was told the form needed to be returned by tomorrow. I was also told by a person at the fund administrator that all they are waiting on is the final approval from the SEC for distribution.
I received email today from fund with attachment w-9 form to be returned by February 3rd .I called SEC tonight and left message .Will keep you informed ,is this the start of eliminating investors by not meeting deadlines.? Anyone else receiving emails?
Has anybody else received an email from the fund that asks them to fill out a W-8BEN form? (Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting)
What is it for exactly?
Any word on the Jeffrey O. Friedland fund? Last info I received from the administrator for the fund is that they were in receipt of my application. I sure hope I can every cent that I invested in $OWCP. I know we most likely will not, but I sure hope so.
I still think I-GLOW Pharmaceutical Research Corp has a good ring to it. :)
Any thoughts about how this gets handled in the SDNY? A court appearance or just a docket entry? The wording suggests a court date. I'm sure that Judge Alvin will approve the motion based on his comments about "what's taking so long" in the appearance a few weeks ago.
PLEASE TAKE NOTICE that, upon the annexed Declarations of Paul A. Saso and Travis
Cochran, dated January 20, 2023, and the exhibits attached thereto, and all the pleadings and
proceedings herein, counsel for Plaintiff will move before the Honorable Alvin K. Hellerstein,
United States District Judge for the Southern District of New York, United States Courthouse,
Courtroom 14D, 500 Pearl Street, New York, New York, pursuant to Rule 55 of the Federal Rules
of Civil Procedure for an order of default against Defendant OWC Pharmaceutical Research Corp.
Dated: New York, New York
January 20, 2023
Three new filings in SDNY. Its perplexing. The company has no assets and no value yet Discover is desperate to convert their preferred shares and has expended substantial funds on legal fees. Maybe they want a ticker to get Discover listed on the Expert Market.
last document of this Case is 62
https://www.docketbird.com/court-cases/Discover-Growth-Fund-LLC-v-Owc-Pharmaceutical-Research-Corp/nysd-1:2020-cv-02857?utm_source=frozen_email&utm_medium=email&utm_campaign=np_public_user_following&utm_content=following&db_uid=327cf0fc-de19-4341-a59d-784ba1fb6855
$OWCP
Discover filed motion for default judgement along with declaration.
Has anyone got the document of the today court decision?
Thanks
$OWCP
Case: Discover Growth Fund, LLC v. Owc Pharmaceutical Research Corp. (nysd-1:2020-cv-02857)
Court: Southern District of New York
60. MOTION for Default Judgment as to OWC Pharmaceutical Research Corp. Document filed by Discover Growth Fund, LLC. (filed: 01/20/2023)
61. DECLARATION of Paul A. Saso, Esq. in Support re: [60] MOTION for Default Judgment as to OWC Pharmaceutical Research Corp. Document filed by Discover Growth Fund, LLC. (filed: 01/20/2023)
I know that you made that call before it hit the fan. I agree that it was premeditated but I believe that it was a collaboration rather than a gift.
Hey Blue, I always thought the Baruch default clause was a gift from Bignitz to Discover.
IG
Isn't that the deal between Turner and Feldenkrais - who has a CE on the company now.
I have pretty much stopped keeping up with OWCP - as all I see are Billable hours by the Attorneys.
IG
so the deadline was in June from what I remember, and I did qualify. So I guess March - June 2023 of this year we should hear back from them? I'm just asking in case anybody else received any additional information. It seemed I got information later than a lot of people last time...
When I called they said 9 to 12 months from when we had to have paperwork in. If you qualified you should know that by now
alas a DUD------------thot it was going somewhere..............BUT its had its last run...
GONE BAD 4 GOOD
I have been trading this stock since before the first run and I sold on the way down. I loaded again before it went dark. If you research the share prices used in the conversions that happened back then you may change your view of the time period where the conversion price is determined. Since most of the preferred have not been converted the price is not determined. The shares are not issued yet and the conversions that were completed maxed out the OS.
My personal belief is that an event is pending which will lift the market cap substantially and a favorable conversion price will result. If you have been in the stock this long you are just messing with me like i suspected. You know all of this history. I wonder who paid up for 2M shares last week. From your post it was not you.
Does anyone know approximately when we will receive any money this year if we qualify?
Triggered event conversion Pref A price 0,08
Assuming
quotations Nov 1st 2018 -> 0,16
Jan 1st 2019 -> 0,10
been conservative
medium three lowest closes in this period -> 0,12
minus 0,01
0,12 - 0,01 = 0,11
75% of the result
0,11 x 0,75 = 0,08
They will convert at 8 cents $OWCP the Baruck preferred A shares.
Source (filter per 5Y chart)
https://finance.yahoo.com/quote/OWCP?p=OWCP&.tsrc=fin-srch
P.S. The 433 Pref A original have a conversion price of 0,20.
Do you agree?
Not recently, in 2018-2019 was.
And you?
PG34
Dr. Yehuda Baruch Triggering Event
On November 27, 2018, the Tel Aviv regional Prosecutor’s Service filed criminal charges against Dr. Yehuda Baruch, our Chief Medical and Regulatory Affairs Officer, alleging that Dr. Baruch conducted an improper sexual relationship with a psychiatric patient. The aforesaid charges brought against Dr. Baruch are considered a “triggering event” (a “Triggering Event”) under our Certificate of Designation governing the Preferred Stock. Subject to certain beneficial ownership limitations of the Preferred Stock, at any time during the period commencing on the date of the occurrence of a Triggering Event and ending on the date of the cure of such Triggering Event, the Purchaser of the Preferred Stock may, at his option, by delivery of notice to us, specify a future date upon which such holder shall require us to convert all, or any number of, Preferred Stock into shares of our Common Stock at an adjusted conversion ratio as specified in the Certificate of Designation.
Due to the Triggering Event, the conversion price has adjusted to an amount equal to (A) 75% of the quotient determined by dividing (x) the sum of the three (3) lowest Closing Prices of the Common Stock during the period beginning ten (10) Trading Days prior to such Triggering Event Conversion Date and ending three (3) Trading Days after the shares of Common Stock are received into Holder’s brokerage account and fully cleared for trading, by (y) three (3), minus (B) $0.01.
PG.67
Dr. Baruch was awarded an option to purchase 7,000,000 shares of common stock on December 15, 2016. The options vested 1/3 on the grant date, and 2/3 on a quarterly basis from the grant date for a period of two years, provided that at the relevant vesting dates the executive continues his service to the Company.
Option expiration date December 14th 2026, exercise price 0,05.
PG.69
Baruck shares 9.120.000 common (4,52%)
Includes 2,120,000 shares of our common stock, 7,000,000 shares of our common stock issuable upon the exercise of options to purchase our common stock within 60 days of May 15, 2019.
PG.70
As of May 17, 2019, there were issued and outstanding 433 shares of the Series A Preferred Shares, which are currently convertible into 2,514,755,816 shares of our common stock at a conversion price of $0.20.
As of May 17, 2019, the Investor converted an aggregate of 67 shares of Preferred Stock into an aggregate of 46,865,656 shares of the Common Stock at the conversion prices in effect on the respective conversion dates and in payment of dividends on the Preferred Stock.
PG.75
Owned before the offering at Discover Growth fund 5.174.940 shares
sold 263.930.000 shares common.
The selling stockholder’s address is 103 South Church Street, 4 th Floor, Grand Cayman KY1-1002, Cayman Islands.
This is the 'Discover' you talked about "Friday" evidence. Right?
TRIGGERED EVENT
was in November 27th 2018
In my opinion is not easy to calculate the CONVERSION PRICE now.
the period is between
10 Trading Days prior to such Triggering Event Conversion Date
and (Nov 13th 2018)
3 Trading Days after the shares of Common Stock are received into Holder’s brokerage account and fully cleared for trading (????)
You take the 3 lower closes
make the medium value
minus 0,01
AND
make the 75% of your final results:
this would have been the conversion price of the Baruck remaining "trigger" Pref A shares.
Did you invest recently? I am curious what got you interested and invested.
https://www.otcmarkets.com/filing/html?id=13467907&guid=Qis-kF3pD-_GB3h
First mention on page 34. Triggering event. More later in the document. I have not read this in years. This will get you started.
This incorporation?
https://www.otcmarkets.com/stock/OWCP/news/OWC-Pharmaceutical-Research-Corp-Announces-A-New-Distribution-Agreement-With-Can-It-Industries-Florida-US?id=273829
Where is the S1 that you mention?
Thanks
$OWCP
Surely you can go to OTC markets and look up the S1 or S1A and find it. I already gave you the page number range.
Glad to see you here then. We have had a lot of delay tactics over the last half decade. The company was incorporated without a super voting share and that has caused all sorts of fun and games and some of the most creative scenarios and of course the rotating CEO's.
I'm serious cause I'm a current shareholder.
Can you please provide a link of this subject?
Thanks
Not sure if you are baiting me or serious but please review the final S1 for that offering. It contained a triggering event that was triggered and the current conversion rate is a formula of recent closing prices minus one cent so at the present share price that preferred would convert into an infinite number of shares at zero cents. That is why the current market cap is so low.
I'm not going to look it up but its somewhere around pages 73-79 in the final S1. I have been steadfast in my opinion over the years that when as many shares that could be squeezed out of shareholders pockets were accumulated the court cases would resolve and the share price would appreciate to a value where the triggering event did not affect the conversion price. Since the judge in NY ordered Discover to submit his motion by this Friday I believe that day nears.
Hey Sir,
are you talking about these preferred? (convertibles in commons at 0,20 $ per share)
https://www.biospace.com/article/releases/owc-pharmaceutical-research-corp-raises-5-million-in-preferred-stock-sale-to-institutional-investor/
In 2018 the ticker valued 0,20/0,30.
From here I don't see the preferred shares, only the restricted:
https://www.otcmarkets.com/stock/OWCP/security
The latest filings is end of 2018:
https://www.otcmarkets.com/stock/OWCP/disclosure
The "08/25/2021 8K Report" on Company profile section is not clickable:
https://www.otcmarkets.com/stock/OWCP/profile
$OWCP
It seems like the time is near. The Discover motion to force the preferred conversion is due Friday. I doubt that the company will allow that to happen at this market cap
$OWCP
os 485M close to maxed out
Updated January 9th 2023.
Expert market
but today they bought at market climbed to 0,0010 or close to.
https://www.otcmarkets.com/stock/OWCP/security
Rumors of Limited going out of Expert market?
Hope so...
What is going on here? How can there be 2.56 Million shares volume sold? What the OS?
So I should load up again? :)
It was a little hard to understand their lawyer on the conference call this morning but it sounded like they are submitting a motion to Judge Alvin
This is GREAT news!!!!! Thank you IG!
I like their "We don't care and it shows" T Shirt on Amazon
The rumor is that Kruger Industrial Smoothing is going to acquire OWCP.
IG
Time flies. The next hearing in the SDNY is Friday.
probably a good thing, it led to Socrates death..
It means the Attorneys are paid first.
IG
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |