OWC Pharmaceutical Research Corp (OWCP)

[bybtrader]

So many wrong statements in one single post.

- OWCP has pending patent applications with WIPO which are given provisional patents for the time being. Once applications are reviewed by WIPO, OWCP will update the applications incorporating/addressing comments for formal patent award.

- The $13k on the balance sheet is not for the patents. Basic accounting principles prevent companies from claiming patents as assets unless they acquired the patent or they are offered a price to sell. The main reason for this is valuing a patent is very subjective. GAAP (if you don't know what it is, look it up) can't regulate this so they prevent companies from showing all patents as assets. Even companies like Apple or Microsoft can only claim patents as assets if they meet the above requirements.