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But in any event, Mr. Kugelman’s purported resignation is reminiscent of OWCP’s former management who suggested that entry of the preliminary injunction could result in their resignations.
"Purported", are we talking about "Purported", did I read "Purported"?
What's going on here. You mean to tell me that DGF's lawyers don't know that Kirkland is the one that appointed Kugelman, their puppet?
I see this as a smokescreen to divert attention to their real concern:
Information that has been readily available for well over a year now. Google search is a wonderful tool.
What about DGF, did they not fie the same thing on February 25?
Read the rest of my post if you want to be informed.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=165652943
Ziv Turner's personal IR team has posted a message that you might benefit from reading.
This is not from "Turner's personal IR team".
https://www.streetinsider.com/SEC+Filings/Form+8-K+OWC+Pharmaceutical+Resea+For%3A+Dec+09/17716423.html
Thanks for your question but you should hold your horses before making a statement and reaching a conclusion.
Let me explain. As you now know or should know, Ziv Turner was also dismissed as the CEO of OWC Israel. Please refer to the following in the letter written by Melinda Spitzer:
The only thing that is a fruitless endeavour is casting blame on Ziv Turner. Of all people you should know that he's not the one that stole the bulk of the $5 million DGF loan.
https://www.marketscreener.com/quote/stock/OWC-PHARMACEUTICAL-RESEAR-120791802/news/OWC-PHARMACEUTICAL-RESEARCH-CORP-Change-in-Directors-or-Principal-Officers-form-8-K-36247654/
The fact that Ziv Turner was removed and replaced as the CEO of both entities should be enough. But apparently not. Why are you not going after the puppet that took over and who has now resigned?
Thank you for posting the response. I disagree with you, I believe that it was a respectfully submitted and perfect letter!!! The only question is what is Turkeyland going to do about it?
In your third sentence you continue to question the leadership of OWC Israel and OWCP? Until we hear otherwise, at the moment there is no leadership. There is also no money! Read Melinda Spitzer's last paragraph
David Kugelman's resignation. Just to emphasize he was the CEO of not only OWCP but also One World Cannabis Ltd., in Israel. Focus on the bold part.
Save your money, there is nothing there to follow.
That is pure unadulterated bullshit!!! He is no longer the CEO of OWC Israel. Period end of story. What is it that you don't understand about my previous comments when I said Ziv Turner is no longer associated with OWC?
Further, if he were still the CEO of OWC Israel, when did that company ever file financials? It's not a publicly traded company. That responsibility falls, or should have fallen, on the shoulders of the puppet CEO for OWCP. Or are you disputing this, even after the filing indicating the puppet resigned?
That is just too funny!!! "Zip-Locked ZIV" no longer has anything to do with OWCP. You are expecting financials from someone that is no longer associated with the company? That is a preposterous statement.
Kirkland appointed his puppet Kugelman as CEO and sole director of OWCP a long time ago. Or did you miss that?
Don't get your hopes up. It will be a very boring show!
That is just too funny!
In a convoluted way you appear to agree with me.
So essentially what you're saying is that even though DGF recognizes there is nothing there, they would like for OWCP to continue to exist so they can prolong the game of converting and selling shares.
Sure "they just want to be repaid", it's a reasonable expectation, but it's wishful thinking. It's not going to happen!
OWCP is barely on life support. DGF may be desperate but do you really think they are that stupid to step up and continue with their extraordinary measures of providing more $oxygen, just as they've done since last year? History tells us that they can indeed be that stupid! So I guess you never know, but I wouldn't bet on it.
You are mistaken on all counts! For your information I crucified Turner until he left in mid 2017. I then changed my focus on Bignitz and Hirsch. All along I maintained a healthy skepticism. My view on Turner has changed from my initial 2017 view.
None of this has anything to do with your reply to my comment wherein I specifically stated that DGF has no interest in owning OWCP and running a company.
As for debt are you suggesting that there is a debt of $3.4 million owed to DGF? They are nothing more than a preferred shareholders, only one step ahead of common shareholders and behind secured creditors and others like employees and suppliers that are owed money. My understanding is, but I have neither proof nor the details, the only loan that was secured is the $200,000 extended to OWCP in 2020.
Perhaps you will answer, let me ask you again. Why do you think DGF wanted the assets of OWCP, fought for them, and then in one of the filings they more or less said thanks but no thanks? Have you changed your mind on your opinion that the company is "worthless"?
Of course there cannot be any question about the email! Make it worth my while and I will elaborate.
You still don't understand the subtlety of the comment.
Yes I repeat "if DGF wants OWCP they can have it". The point is they DO NOT WANT THE COMPANY!!!
Yes of course it's DGF debt, but do you think that is the only debt that OWCP has? When one takes over a company you take the good with the bad.
Why the hell do you think DGF wants a company that you have spent years suggesting that it's worthless. You have new insight now that has made you change your mind? Perhaps we've overlooked something, by all means do share it with us.
"You do understand" that it's your response that is meaningless, do you not? Otherwise why would you disagree with my statement that "the company is riddled with debt"? Are you suggesting that all of a sudden OWC is flush with cash? Maybe you should re-read my comment and/or pause before you comment.
True that the filing does not elaborate on whether or not there are any restrictions. The details would be spelled out within the loan agreement. Often there are provisions within the agreement that upon being given notice to convert, the company has the option to pay off the convertible debt instead. In some cases that's easier said than done, especially if the loan is of a substantial amount and the company just doesn't have the money. In this case the convertible debt held by Marquis Trading LLC is only $111,322, a relatively small amount.
Without the benefit of seeing the actual contract all we can do at this point is speculate. Given the small amounts of this and the other loans, it does make you wonder why they are just not paid off. But I guess, if there is an option to pay it, why part with the money unless one has to.
It's old news to me but obviously not to you!!! The info was included in the previous 2021 Q1 filing.
Regarding your last statement, pay attention to the wording in the filing. The company agreed to put them in reserve in case of a conversion. It doesn't mean that they were or will be converted. You do understand it now right?
You are misinformed as to when Feldenkrais became CEO of CATV. It's very simple DD.
Thank you. If what you say is true about Keer then it makes sense to have changed law firms.
I don't agree with your "falsely stated" comment. That is indeed the point and you're entitled to your opinion.
The shares you are referring to is old news. The debt was incurred years before Feldenkrais came on the scene. Yes if converted that could cause dilution, but what makes you think the company would allow the conversion? Such debts almost always allow for the debt to be paid off if conversion is exercised.
Since when is living frugally in a modest house cause for concern? How many millions of people live in houses more extravagant than the one owned by Warren Buffet?
I don't have to provide any proof, especially to you. Why is my statement a stretch? DGF has already made money available to OWCP for the reasons mentioned. I doubt that there is anything left from the $200,000.
If DGF wants OWCP they can have it. Actually it's already been offered to them. The company is riddled with debt. You have repeatedly maintained that the company had no value and that it was nothing more than a share selling ATM machine. Have you changed your mind? If DGF wants the game to go on the only way that can happen is for them to stock up that machine and mislead everyone else into believing that they plan to remain passive, and that the company will be a going concern!
Well that's an interesting spin. You really think this is about a lack of financials? Speaking of financials, guess who will be paying for OWC's legal representation? You guessed it, it will be none other than DGF.
Read below and hopefully you will understand that the 200K in debt financing was not for just the financials. Focus on the part that is highlighted to make it easier for you to see how your statement is factually incorrect. That should settle it but I doubt it!!
https://www.pacermonitor.com/public/case/33372675/Discover_Growth_Fund,_LLC_v_OWC_Pharmaceutical_Research_Corp
Refer to #23 and #24:
STIPULATION EXTENDING DEADLINES IN ORDER GRANTING PRELIMINARY INJUNCTION. IT IS HEREBY STIPULATED AND AGREED, by the undersigned attorneys for Plaintiff Discover Growth Fund LLC ("Discover") and Defendant OWC Pharmaceutical Research Corp. ("OWCP" or the "Company"), that: IT IS HEREBY STIPULATED AND AGREED, that Discover shall not take any action until September 30, 2020 seeking to hold OWCP in contempt or to enforce the Order, or to prosecute the related and underlying claims if OWCP (i) holds a special meeting of OWCP's stockholders by no later than August 31, 2020 (the "Special Meeting"), and (ii) files or otherwise makes publicly available the information required for a Form 10-K for 2019 and Form 10-Q for the quarters ended March 31, 2020 and June 30, 2020, by no later than September 25, 2020. IT IS FURTHER STIPULATED AND AGREED that, as the Special Meeting voting results permit, OWCP, its officers, agents, servants, employees, and attorneys, and all other persons who are in active concert or participation with them, including but not limited to OWCP's current transfer agent and any future transfer agent, are ordered to reserve for Discover the Required Reserve Amount as provided in the Securities Purchase Agreement dated April 30, 2018, assuming a Conversion Price equal to the Closing Price of the Common Stock on the Principal Market on the day prior to shareholder meeting. IT IS FURTHER STIPULATED AND AGREED that, at the Special Meeting, OWCP's stockholders who were stockholders of record as of August 13, 2020 will vote on: (1) approval of a reverse stock split of the Company's issued and outstanding capital stock and (2) authorizing the Company to increase its authorized capital stock. OWCP may utilize the proceeds from $200,000 in debt financing provided by Discover to an OWCP subsidiary to meet its above obligations. SO ORDERED. (Signed by Judge Alvin K. Hellerstein on 8/28/20) (yv)
What is astonishingly hilarious is asking the same question over and over and over again. Where did the $200k loan from DGF go? You want the truth, it's in the court order and I suggest you read it. You will clearly see that there were two court ordered shareholder meetings and votes that occurred and whereby it was specifically mentioned that the 200K could be used for such purposes.
Easy enough to understand, no?
Nobody is speaking for anybody, just answer the effing question. You were all over that court order with your wild predictions. What happened to it?
Obviously there is an excuse when the court order was issued based on frivolous and desperate measures not to mention fraudulent filings by DGF.
By the way we are still waiting for that ruling from the Chancery court in Delaware since March 23. Should Ziv Turner be concerned about that one as well?
You're mistaken. I'm not referring to Ziv Turner's ignorance of a Court Order. Why would this one be any different than the others, especially when he's not specifically mentioned. It is just laughable!!!!
Good observation! I'm sure David Kugelman will come through.
Your response of course does not address or expand on the comment that I made. I expected nothing less! As for unzipping, Ziv will do just that and piss on the court order. Of course I say this metaphorically because he's too much of a gentleman.
"The A/S is unrelated to the Court Order to provide financials."
Really? Is that all that the court order was about? RE-READ IT!!
Really? Is all that DGF wanted, financials? Re-examine the reasons why DGF initiated the process in the first place.
The A/S and/or the reverse split, or whatever was needed to come up with more common shares is all that DGF ever wanted.
With regards to the $200,000 debt financing provided by DGF, you have been misinformed and provided with only part of the reason why the money was made available to OWCP. You have been repeatedly told that it was for bringing the filings up-to-date. Sure that would have been nice, but what the hell do you think that would have accomplished? The AS was already maxed with only about 1 million shares left. DGF WANTED NOTHING ELSE BUT COMMON SHARES MADE AVAILABLE SO THEY COULD CONTINUE WITH THE CONVERSION OF THEIR PREFERRED SHARES.
There were two special meetings that were held in the summer and fall of 2020. The proposals were defeated at both of them. There were even discussions about DGF offering to lend more money for another vote. That idea was abandoned. Many shareholders came to realize that as long as DGF was in the picture, the company had no future. If the reverse split had succeeded and/or the AS had been increased, DGF would have continued to gobble up their free shares. Why do you think Turkeyland attempted a coup earlier this year by appointing Kugelman as the sole director of OWCP? Do you remember when initially they stated that they controlled 99% of the common shares on an as converted basis? Of course we know now that they had to backpedal and set the record straight.
Here is part of the text from the August 27, 2020 Stipulation Order. Read the highlighted part as well so you will know what that $200,000 was earmarked for:
IT IS FURTHER STIPULATED AND AGREED that, as the Special Meeting voting results permit, OWCP, its officers, agents, servants, employees, and attorneys, and all other persons who are in active concert or participation with them, including but not limited to OWCP's current transfer agent and any future transfer agent, are ordered to reserve for Discover the Required Reserve Amount as provided in the Securities Purchase Agreement dated April 30, 2018, assuming a Conversion Price equal to the Closing Price of the Common Stock on the Principal Market on the day prior to shareholder meeting. IT IS FURTHER STIPULATED AND AGREED that, at the Special Meeting, OWCP's stockholders who were stockholders of record as of August 13, 2020 will vote on: (1) approval of a reverse stock split of the Company's issued and outstanding capital stock and (2) authorizing the Company to increase its authorized capital stock. OWCP may utilize the proceeds from $200,000 in debt financing provided by Discover to an OWCP subsidiary to meet its above obligations. Dated: August 27, 2020
Shit happens! That's also a very simple concept.
A "Plain and simple" but wrong conclusion.
Take another look at the court order and conclusion that you posted:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=165323540
Where does it say that "Ziv is under a Court Order to file financials"?
How about re-examining the enthusiastic applause towards Johnny Turkeyland for cleaning house, by firing everyone, and appointing Kugelman? In retrospect do you think that was a good move?
Everybody knows that DGF has never given a shit about shareholders, all they ever wanted was to continue the game of converting shares and dumping them on the market. That is the only thing that is plain and simple.
That is an absurd statement. Are you suggesting that Ziv Turner is still the CEO of OWCP? Are you not aware that he was fired and replaced with David Kugelman?
You have had a high regard for both Johnny Turkeyland and David Kugelman. They are in control are they not? Are you able to provide proof to the contrary? If not then Discover Growth Fund issued a fraudulent filing that obviously backfired.
You can choose to wait until the cows come home, but in this case they will not. Therefore neither will the "unaudited financials".
Waiting for the result of the aforementioned Hail Mary pass is your only hope. It will not end well!