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Gary, I have been reading your posts since the beginning and agree with you that the patent allowance was the TSN turning point (game changer) for me as well. You consistently questioned and lamented, as many of us did, over the lack of communication, and the need for such a high R/S proposal. Unlike you, I sold about 80% of my holdings for $0.008 in one account for a tax loss, and bought most of them right back in another account at $0.0068 after the patent allowance and the defeat of the R/S proposal.
David Sims, the owner of Discovery Growth Fund, the $5 Mil OWC investor has to be as unsavoury a character as you might ever come across. He has a long-standing history of butting heads with the SEC.
In May of 2019, a complaint was filed against David Sims, his partner Mario Precopio, and their lawyer Ralph C. Greaves, all based in California, along with a bunch of other entities they control. They are alleged to have scammed 13 investors out of $1.41 Mil by way of what is typically called a “prime bank” scheme.
What is puzzling is that for these guys the amount of money involved is nothing more than pocket change. They do it because they are born SOBs and are addicted to free money, and quite obviously they have no conscience and feel no remorse for the pain they cause.
The good news with all of this is that it has nothing directly to do with OWC, and the alleged fraudulent activities all occurred prior to the loan agreement with OWC. The other good news is that because of the investigation it’s quite possible that David Sims got side-tracked and not giving as much attention to the OWC investment. Having so much on his plate might very well explain why DGF stopped converting its preferred Series A shares during the second half of 2019. As they say, you snooze you lose!
https://www.sec.gov/litigation/complaints/2019/comp24480.pdf
Many of us have been here from the beginning. The time-frame that you are talking about, where the sp went from a high of $3.23 to a low of $0.003, lasted almost exactly 2 years and 9 months. Jeffrey Friedland, the mastermind behind the scam was charged by the SEC and forced to settle for almost $4.2 Mil including interest (some of which by the way will likely be distributed to the affected investors as per the Fair Funds for Investors provision introduced in 2002).
Meanwhile the company's doors are still open and, by the looks of the recently announced patent allowance, they are still working to further the company along.
Be bitter if you want, it is your prerogative to feel whichever way you want to. But really what is the point of being that way? Why not seize this opportunity to look at the current state of affairs and make your decisions accordingly. Just saying, you have a choice!
Definitely not the sharpest tool in the toolbox. But eh give him credit for giving us a heads up.
That's what happens when you have a 0.026 gap between the ears that hasn't been properly filled.
I just had a brilliant thought! If everyone put you on ignore then you would effectively be reduced to blabbering to yourself.
That is BULLSHIT and everybody knows it. If only you bothered to inform yourself then you would quickly realize that as well. But I realize reading SEC filings is a lot of work.
A good rant, relax, shit happens, don't be swayed by the day to day fluctuations. Has anything that is fundamental changed since yesterday? It hasn't.
I saw a GREEN 4 leaf clover. Would that be the same one that you saw?
My diary is slightly different:
DIARY OF MY LAST OWCP RUN...
Once upon a time, I did not panic and instead accumulated more and more OWCP through the liquidation process that was surely to end soon and start its upward climb again to the moon and beyond. Much to my dismay the sucker was just not moving, but lo and behold a pulse was detected, and now fully rested it is back on its journey again. A beautiful sight indeed!
$$$OWCP2020$$$
And the reason for posting this is?
Jim Brown should get his facts straight before he ever writes another article.
1. OWCP stock never reached a high of $23.00. In early 2017 it traded inter-day for as high as $3.23.
2. OWC did not "Partner" with Stenocare. They had announced a strategic MOU between the two companies, which was subsequently taken off the table by Stenocare because in their view they found a better looking dance partner closer to home. To that I'd say good riddance!
Unfortunately when you have these kinds of errors in an article, and refer to the psoriasis cream as a "tropical" treatment, the rest loses all credibility.
https://mjglobalreport.com/owc-pharmaceutical-research-corp-otcmktsowcp-2020/
When you have a 56% gain and you sense a measure of disappointment, even if only slightly, you have to ask wtf is wrong with me? It's called avarice, or greed if you will, nothing more and nothing less. But it is a good time to reflect!
$0.13 looks good!!!
Welcome to $0.11
JF left a blueprint so there is no need to bail him out.
I think that it's quite possible the gap being referred is one that measures 0.26 inches between the ears and has nothing to do with the share price. Just a guess, I'm not a gapologist so I stand to be corrected.
I sure hope what has transpired did not happen randomly. The company has had a plan all along. DGF was forced to play by the rules. Interpret that as "you play nice" or you will lose! The result and the probable outcome is that:
1. DGF will be very happy with the massive return they will have made on their $5 million investment.
2. With the SP approaching, and soon surpassing the $.20 level that the $5 Mil was based on, it can easily be repaid back to DGF with significantly fewer shares.
3. Ziv Turner, with his 43+ million shares will be so rich that he will no longer find it necessary to flip his cannible laced burgers. He can also take comfort in knowing that Bignitz has in fact treated him like a son.
4. With prosperity, management will be handsomely rewarded as well. So well that they might even be required to commit more time to their part-time positions with OWC.
5. Dr. Oron Yacoby-Zeevi might very well receive another nomination for being one of the top 10 "Most Influential Israelis in International Business" as she did for playing a "key role" in the $1.1 billion Neuroderm exit. https://jewishwebsite.com/featured/meet-the-top-10-most-influential-israelis-in-international-business-science-and-culture-in-2017/23335/
6. Some of the original shareholders might even recover their paper or actual losses, start smiling again, and be sending roses and cards of appreciation to management.
7. New investors, especially those that bought boat load of cheap shares will be walking around with permanent grins....but not to worry, the crease lines created, can easily be removed from the soon-to-be-released OWC cream.
Doesn't matter how you look at it, 2020 is going to be a very memorable year.
GLTA!!!!
This is hoping that in 2020 all your dreams come true. Happy New Year to All OWCP Investors!
Just quoting a reporter's article and interpretation of the case, definitely not from the SEC. For the 500th + 1 time and counting, the case is closed.
1/2 Million with 3 new girlfriends? You will need a lot more than that. I wish you luck this time around as well.
The debt obligation has been known for a long time. Would you have preferred that they repaid it in cash and forego everything else that they might need the money for?
Misconceptions regarding the Series B Convertible Preferred Stock and the Certificate of Designation that was filed. This is all in an effort to get the facts straight. Here are the key elements to digest:
1. The number of shares authorized and designated as Series B shares = 150,000
2. Each of these shares can be converted to 1000 common shares, provided there are a sufficient number of authorized but unissued shares of common stock and provided they haven't been reserved for other purposes. That could become a big if the closer we approach the limit of 500 Million authorized common shares.
3. If all could be, and were to be converted, yes they would indeed be converted to 150,000,000 shares.
4. As of the date of designation none of the above shares were issued, but the filing states that 43,675 of the Series B shares will be issued to Ziv Turner. This will satisfy the $725,000 settlement the company reached with him. This is a debt that had to be repaid one way or another.
5. Subject to #2 above, Ziv Turner could convert any number of his Series B shares up to a maximum of 43,675,000 common shares.
6. Again subject to #2 above, the company could then issue the remaining Series B shares for compensation and/or other purposes.
7. I have thoughts on other ways the company might want to utilize the remaining Series B shares, but I'll leave that for another day.
https://www.sec.gov/Archives/edgar/data/1431934/000149315219019700/form8-k.htm
Actually JKS is referring to the Series B stock. I doubt he has grasped what it is that you are referring to, but the conversion concept is similar for both Series A and B stock.
the warrants that were issued in 2017 as part of the private financing were for $0.25 to $0.70 or perhaps for even lower. Unfortunately they had to be exercised within a certain period of time, which has come and gone.
A good point. At the current level the conversion formula for the series A preferred shares held by Discovery is not nearly as punitive. A quick calculation reveals that if all their remaining shares were converted today, there are still enough authorized shares left, from the 500 million total, for the conversion. This was definitely not the case last week.
David Sims, as many of you know, is the sole owner of Discovery Growth Fund. Much has been said on how ruthless he is when it comes to business dealings. No one is denying that, but as ruthless as he may be, he is not stupid. Many months ago I made the comment that he had a vested interest to keep OWC afloat and that it was going to be a cat and mouse game. He could have forced the issue by redeeming all of his remaining shares, but to his credit he recognized that by doing so, both he and OWC were going to lose.
I can say that but I can't prove it? Nobody has to prove that the last run was caused by hype and a fraudulent dump. The SEC did a very good job, charges were filed, fines were imposed, and the case is now closed. Other than that you seem to agree entirely with my post.
The prices reached in February 2017 were based on extreme and fraudulent pumping for which one individual was charged by the SEC, and recently concluded. Those prices have zero bearing on the current situation and potential of OWC.
Just disregard. Unfortunately the buzz has attracted new people, many of whom know zilch about OWC and what has transpired. The high level of interest is a by-product of either enthusiasm, panic, or both.
Actually in this case the agreement with Ziv Turner was at a share price of $0.0166. Up until a week ago owcp was trading at about half this price.
OWC did not award Ziv Turner double the amount of shares. According to the Dec. 6, 2018 SEC filing he reached a settlement with the Company for $725,000. Today's filing states that Ziv Turner and the company reached an agreement whereby he was paid the settlement by the issuance of 4,365 series B shares (each share = 1000 common shares).
The Series B shares have a conversion requirement, one of which is a minimum of 7 days notice. So in case anyone thinks that Ziv Turner is responsible for the latest high volume of shares transacted, he is not!
The following is from the Dec. 6, 2918 settlement:
I don't recall ever sending you communication, but I'm sure I have replied to your posts publicly. I made it quite clear in my post that the change in my perspective was directly related to the defeat of the R/S proposal and the issuance of a patent allowance. I also viewed the cancelling of the MOU with Stenocare as a positive. I am pleasantly surprised with the latest run and I remain cautiously optimistic.
The Series B shares awarded was for $700K lawsuit settlement. He was never given cash. He could have been issued common shares when the stock was trading for below $0.01. At the $0.007 level he would have had to be given over 100 million common shares. We should be thankful the company did not do that!
With 43,675,000 shares Ziv Turner has already doubled on paper the $700,000 awarded to him. Maybe he will go on an independent tour promoting the stock again.
Don't worry Gary. In 2020 everybody's vision will improve!
Come on that's an exaggeration. There may be a few that bought for over $2.00 but for all we know they are no longer holding these shares or they averaged down. My guess is that the break-even level for most long-term investors is well below $0.50.
From 0 to 60 in 4.4 seconds is much too slow for any sports car, let alone a Ferrari. Nowadays to stay in the mix the times from 0 to 60 have to be below 3 seconds.
To answer your question, those that were not so positive had very good reason to be upset with the company. For the most part these investors were knowledgeable and loyal supporters of the company. The tide turned when the company decided that they no longer needed the support of its shareholders and essentially said F.U. we don't need you anymore. This turn in attitude coincided with the $5 million dollar toxic financing, of which approximately $4.3 million is still outstanding. Until the loan gets dealt with, it will remain as a dark cloud over the future of the company. Two other F.U. moments were the 1:500 and the 1:700 R/S proposals that were both turned down. However, there is really no need to rehash any of this because we have discussed it ad nauseam.
If not for the latest R/S proposal defeat, we would not be having this discussion now. Fortunately this shareholder victory coincided with a patent allowance that took everybody by surprise, perhaps even the company. With regards to the Stenocare MOU fiasco, I am glad that OWC did not encumber themselves and enter into a binding agreement with them. They are now in a better position to entertain another party. Hopefully someone with much deeper pockets to deal with the DGF loan and the funding required to move forward.
Obviously there is still work to do, but it is my sincere hope that starting with the next newsletter to shareholders, OWC acknowledges gracefully that shareholders are not the enemy, and adopts a more conciliatory tone.
Obviously I'm not speaking for everyone, but it's kind of amusing reading the comments and watching the insanity unfold before our very eyes. Many of us have gone from blindly supporting the company's every move, even with ALL of the red flags staring right at us, to now blindly denouncing every move the company may or may not make.
Maybe it's time for some balance and some perspective. I find it somewhat disingenuous that we've gone from one extreme to another. A patent allowance and the defeat of the RS proposal has now brought us to debate the size of markets and the merits of an MOU that was always at best tenuous and suspect. All along forgetting the fact that at anytime up to now many of us would have been tickled pink if the company sold anything, even if it was just from a stall on a street corner.
Look, obviously the jury is still out on how this will unfold. Just trying to keep it real, but as Mark Twain might have said the reports of OWC's death are greatly exaggerated.
With all due respect that is an assumption that you are making. Stenocare found another opportunity right in their backyard that to them was a better fit. They did not want to spread themselves too thin with their limited funds. They said as much in their announcement.
There was no reference about doing any DD or reading of shareholder emails, this or that. At the risk of repeating myself, I'm glad that OWC did not commit itself to Stenocare in a way that might have encumbered it from seeking a better fit with another entity.
With regards to Stenocare and the MOU it's worth repeating that from an outsider's perspective, Stenocare comes off looking much worse than OWC. One has to ask how committed they are to any partnership that they may be thinking of forming. Regardless, OWC is better off and I'm glad they didn't sign a partnership agreement that might have contemplated penalties, and encumbered them from dealing with another entity with much deeper pockets. Stenocare would not have solved OWC's need of capital. Good riddance!!