Tuesday, May 23, 2017 9:52:28 AM
2. To say that “R&D expenses is decreasing because the product is already developed” is no different from saying that the company no longer feels the need to grow because OWCP is a full-grown company. If that were the case, the products would all be out and the stock would be trading in the Nasdaq by now. That’s not the case. This is either a growing company or a company with no plans to grow.
If the company no longer needs to spend money on this one product, then why not start working on the next product? Is this going to be a one-product company whose entire future is based on that 1 product? It seems that if there are going to be other products, they will not even consider working on the second product until the first one starts selling. That is a very convenient way of buying time, enough time to leach money from investors.
3. The first 2 are moot because the truth is that R&D spending is not even close to enough to invest a state-of-the-art drug. There is just enough R&D spending so that they can put something in the SEC filings and keep this stock on life support, but that’s about it. It says very clearly in Note 1, Part B, Page 7 that “The development and commercialization of the Company's product is expected to require substantial expenditures.”
In part C, it says that “The Company has not yet generated material revenues from its operations to fund its activities and therefore is dependent on the receipt of additional funding from its stockholders and/ or new investors in order to continue its operations.” What do you think is meant by “fund its activities”? That is R&D. The R&D is not cheap, never is cheap for any successful company, especially in biomedicine. Spending 150,000 a year on R&D is not going to get this business anywhere. It is outrageous.
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