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Exactly. That run to $3 made me think 0.32 was a gift from heaven. Surely if it could go to $3 why wouldn't it go back to $1 especially with their research moving forward. I think the fact that they had the doctor that headed the medical marijuana program in Israel I believed nothing could go wrong. I now realize investing in biotech startups is risky business and shouldn't never represent your entire portfolio! Such a fool I was. No one to blame but myself. Because I became so enamoured with owcp I didn't follow any of the other canadian LPs. Had I, I would have realized that some of them were also running critical trials for various conditions. At least with them you'd be diversified in that they're growers that also have clinical trials on the side. You're not just betting on the research. I also thought surely pharma is going to jump at owcp not fully appreciating the length of time this would actually take. Also while I made 5x from January to August 2017, the canadian LPs didn't move at all. Aurora was still hovering around $2 Canopy $8-10. Cronos $2. So I didn't pay attention to the space thinking I was smarter staying on the OTC. Again fool I was. Seeing the the Canadian space go 5x while owcp went 50% hurt but I was still up. I should have sold all my shares on January 2, 2018. The day before sessions pulled the cole memorandum. I would have had net $500,000 or a sure million had I diversified in the space. I know we all have painful stories related to owcp. Shoulda coulda wouldas. I take solace knowing that I didn't end up in debt because I was using loans to invest which I also know is very risky so I came out ahead in that sense. But to not even have a down payment on a house is inexcusable after all that. I've read 10 books on investing and I'm going to write my level I CFA this coming year. Using this experience to become a smarter investor and not a glorified gambler. The healing process continues.
I don't visit ihub much anymore. I avoid reading about owcp. I still don't know what the hell happened? So much promise. I poured all my gains from other stocks into owcp in August 2017. I had beginner's luck in my first year of trading. Had no idea what risk was, set no mental stops, assumed too much about the company and what management was going to do to execute their business plan, didn't pay any attention to the broader market, became pigeonholed into just following one stock, my biggest regret to this day was not diversifying into even one canadian LP in august 2017 before the epic run up into end 2017. I saw $400,000 become $50,000. It brought me to tears but I have no one to blame but myself. I learned a lot and I will use this experience to make better decisions going forward. I had so many chances to get out but just kept holding on convincing myself things will turn around. The one silver lining from following the space closely for the past two years is next week I start a new job at an extractor in BC. Leaving the oil and gas sector. Owcp will be a scar that I'm never going to forget anytime soon. That's all. Take care.
Could someone please provide an update on the status of the phase 1 safety study of the cream? Has there been any emails from the company. Or is it just business as usual - another missed deadline. Thanks in advance to whoever responds.
Any update on the litigation against Jeffrey Friedland? Been away from this site for awhile.
Im a believer but ill be surprised if we break .60 by end 2018. End 2019 into 2020 i think we shine. Trust me i hope im wrong (that success comes earlier).
If i had to guess. Someone building a position for either a short term swing trade this fall or a long term hold for phase 2 outcome. Unless a patent is granted i dont see anything material coming out until phase 1 is complete. Hoping by late october or november.
Check otcmarkets.com its free there.
Q1 is due out tomorrow, correct? Im thinking they dont request an extension because they submitted Q3 on time. The annual report was submitted late because they changed their legal representation. We're definitely overdue for the biannual shareholders letter. I wonder if they're waiting for the safety study to be done before writing it. I thought some flippers would have jumped in today knowing the quarterly is out so soon. Thanks!
That alan brochstein sounds shady. I heard any company that doesnt pay him to promote them gets bashed.
I could be wrong but modern medicine does not know what causes fibromyalgia so its hard to explicitly state the mechanism of action in a patent. What is accepted in functional medicine is that chronic inflammation, and hypothyroidism could be factors (caused by diet, stress, and exposure to toxins). I presume owcp's tablet acts on the endocannabinoid system to reduce inflammation which reduces the likelihood of fibromyalgia flareups. Not sure if the patent mentions the endocannabinoid system...
"The filing of this form sometimes precedes an initial public offering (IPO) and is generally filed concurrent with common stock or preferred stock offerings."
https://www.investopedia.com/terms/s/sec-form-s-3.asp
Foamix files for $292M share offering (link below). You have to wonder what FOMX is planning to do with all that money. Fund a trial with owcp's cream perhaps??....
https://seekingalpha.com/news/3343144-foamix-files-292m-share-offering
We all realized march 15th was 6 months after the last letter. My take is why issue a letter 2 weeks before the annual report. Expect a letter with the annual report. I will eat my words if we dont get one then. Going forward well have a shareholders letter in the fall and another with the annual report.
As an investor with also a lot on the line, I was also annoyed to see Baruch still shown as the CSO on slide 9 of the presentation. If you're going to do an update why not comb through all of the details. Makes me think there will be another presentation up and that was just rushed to get friedland out of there.
That article talks about the US. Today in canada, our senate is going to vote on bill C-45. If it doesnt get passed it means it'll have to go through the entire legislative process again. If it gets passed, tomorrow should be a green day for canadian stocks. We wont know till later today the outcome.
Hope your loss is on paper because it wont be a loss in 1-2 yrs time.
It's a good thing owcp has a pipeline of potential revenue streams - not just the cream. I'm more excited for the tablet to progress through trials as a replacement for opiod drugs. And having dr. Zeevi head up the multiple myeloma study isn't bad either. Dermatology, pain, PTSD and cancer are all markets we may find a stake in. And we are all unique individuals with our own genetic profile. A treatment that works for me may do nothing for you so there will always be room for multiple treatment protocols. But yes the cream is seen as the first milestone for owcp to reach. And we're all watching very closely.
Volume is so low. This means nothing.
No updated presentation yet. Just that one page corporate information sheet that was prepared before the wall st conference. I imagine they'll post the updated presentation close to the release of the annual report.
If you believe what dr. Hirsch said during the interview it sounds like the safety trial will be completed at the end of Q1 BUT the results may not be released until Q2. I agree with moxa that theres a chance it could be released in april but am ready for end of Q2 (june).
If you look at the 2yr chart on stockcharts.com, it looks like the last few trading have been the longest the RSI has been below 30. Definitely oversold conditions. I wish I could buy more as everyone else. This is the first time I've told a friend to jump in because this is a no-brainer in my opinion. Not sure if he will.
K ill look into it. My understanding was multiple myeloma was related to blood. Thanks.
Nice post. Where did u hear that their cream could also be used for skin cancer?
Im sure some investors have acquired hundreds of thousands of shares over the past 2 trading days. Id be curious to know which individual or group bought the most.
Now i know the ideal play would have been to invest in a canadian LP last august. Cashed out in january and waited for this SEC investigation to come out to invest in owcp this morning. But of course that'd be impossible to know! Kinda like wishing you invested in apple or amazon at the very start.
Isnt this easy to confirm by looking at form 4 submissions? Or is the fraud part that he sold without disclosing. I will be very surprised if this is true. Is there another source other than businessden??
Whether youre 33 like me or 65 everyone will have solid gains by end of 2020. Enough with this great great grandchildren talk.
Now only .002 between 50day and 200day MA. Im new with TA but have read that day traders have scanners that pick up stocks with a golden cross. The chart looks like the price was purposely held down to push back the date when the cross happens. Who knows though....lets see what impact the cross has.
My impression was hirsch stated they're fully funded for 2018. I'll be surprised if this is dilution. Fun to watch though..... I know my life would be much more relaxed if i just left ihub and came back in a year but its hard not to check in constantly.
I think he means publishing of phase 1 results.
Open question: the 50day MA is .431 and the 200day MA is .434. If the golden cross happens but the price action is below both averages is it still seen as a bullish sign?? or is it bullish once the price closes above the 50 and 200 MAs. Thanks!
I thought he was talking about michepro because that was the slide that was up showing the european and north american markets. It showed 75% owcp 25% michepro if i remember. One day well learn more on mediq...
7 weeks into a 52 week year they announced they added Dr. Zeevi as our new CSO. That seems like an early 2018 update. I know we all want patent or trial updates though but itll come.
Hi moxa I've listened to the talk a few times. He said starting in Q2 we will either have a trial starting or ending every quarter going forward so the market will be informed on owcp's progress.
The commercial arrangement was only mentioned when he said they believed in the next year they will have significant commercial arrangements to announce to the markets. Next year could mean February 2019 but im hoping we have something this summer or fall.
I never heard the word published specifically but they said the results will be released in Q2 for the phase 1 study on the cream which likely implies publishing the results. June 30 is end of Q2. My hope is the delay will only go into late April or early May but ive got to learn to not place timelines on this one.
Thanks.
Your speech isnt complete without thanking Iglow! Without him we wouldnt know how good of an investment we have here.
If they announce successful phase 1 testing of the cream and plans to license and/or move into phase 2 trials that looks like the next catalyst. We should have this info within next 6-8 weeks. I dont know the impact of just moving into phase 2 but licensing news should get the price to 1.50-2.00. I really would like to know what the status of the ongoing MOUs in canada is.
Sucks youre not attending GOING/GREEN. Was looking fwd to your review. We still have FARMER7 and madtrader from what i can tell. I really hope we can get at least the audio to their presentation. If they're spending 100k you would think they could arrange a video to post on youtube or their site.
Is there a link to the outcome of the trial?
I can now access their website. Doesnt look like anything has been updated. Perhaps they're getting some background coding fixed before doing updates later today or tomorrow.
I will take the middle ground. 2.4 million shares closing price 0.48. (Would prefer higher of course but this is my guess).
Ive only been in this stock since last august so i can appreciate your frustration if youve been in it since the first run. I share it as well. Im just surprised you cant wait 4 days to at least see what they have to say next wednesday. Or wait 6-8 weeks for the safety trial to be completed. Your frustrated posts wont speed up their timeline. Lets be patience and see what Hirsch has to say.
Yes! Very well said. I look forward to your opinion on how the conference went.